Sumitomo Chemical and Nufarm Extend Global Collaboration
Nov. 17, 2017
Sumitomo Chemical has agreed with Nufarm Limited, a leading crop protection company in Australia, to extend their global collaboration agreements.
In April 2010, Sumitomo Chemical entered into a strategic business tie-up with Nufarm through shares acquisition. Ever since, the two companies have jointly engaged in an array of business programs in such fields as distribution, development and manufacturing. For distribution in particular, the companies' collaboration has been most comprehensive, encompassing 31 countries around the world, which has successfully resulted in strengthening and expanding their respective crop science businesses.
With respect to product development, the collaboration to date has focused on developing mixtures in existing chemicals in various parts of the world as well as developing new mixture products utilizing Sumitomo Chemical's novel fungicide pipeline such as a mixture for controlling Asian Soybean Rust, a major plant disease, in Brazil. Under the extended collaboration, the two companies will jointly make unchanged and steady efforts, furthering these ongoing programs.
Sumitomo Chemical positions "life science", including agrochemicals, as one of its key business domains which, the Company expects, will promise a high rate of market growth in the future. Going forward, Sumitomo Chemical will further expand its agrochemicals business, as an integral part of its AgroSolutions business, by cementing its business relations with Nufarm further.
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