Completion of Merger of Group Companies in India
Sep. 2, 2019
Sumitomo Chemical Company, Limited (“Sumitomo Chemical”) announced that the merger of two of its subsidiary companies, Excel Crop Care Limited (“ECC”) and Sumitomo Chemical India Limited (“former Sumitomo Chemical India”), has received approval from the regulatory authorities in India and was successfully completed on August 31, 2019. The new Sumitomo Chemical India has started its operations on September 1, 2019, and is expected to list its equity shares on the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited after completing the procedures according to the related regulations.
Sumitomo Chemical views India, which is the fifth-largest * agrichemical market in the world, and which is expected to have a high rate of growth, as a key market for its agrichemical business. As a result of this merger, Sumitomo Chemical India will have the second-largest* sales of any company in India’s agrichemical market. Sumitomo Chemical India will further expand its sales by fully leveraging the rich product portfolios and established sales networks of ECC and former Sumitomo Chemical India in a mutually complementary manner. At the same time, Sumitomo Chemical India will strengthen its competiveness by making more focused and efficient use of its management resources to become a leading company in India’s agrichemical market.
Sumitomo Chemical will contribute to ensuring the stable supply of safe and secure food, for which there is growing worldwide demand, while promoting the further global expansion of its crop protection business.
* Based on 2018 estimates.
Profile of Sumitomo Chemical India
|Company Name||Sumitomo Chemical India Limited|
|Headquarters||Mumbai, Maharashtra, India|
|Established||April 2000 (Date former Sumitomo Chemical India was established)|
Development, manufacturing and sales of crop protection products, household insecticides and feed additives
Merger of Group Companies in India（press release dated August 2, 2018）
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