Summary :
-Mitsui Chemicals, Inc. (Tokyo: 4183; President & CEO: HASHIMOTO Osamu) today announced that wholly owned subsidiary Mitsui Chemicals Agro, Inc. (Tokyo; President & CEO: OZAWA Satoshi) has completed its acquisition of the agrochemicals business of Meiji Seika Pharma Co., Ltd. (Tokyo; President and Representative Director: KOBAYASHI Daikichiro). The agreement for this acquisition was previously announced on September 10 via press release. *1
- Date to conclude acquisition: 4th January, 2022
- Stock transfer value: 42.2 Billion JPY *Approximate
Mitsui Chemicals Agro, the agrochemicals subsidiary of Mitsui Chemicals, has agreed to acquire the agrochemicals business of its Japanese compatriot Meiji Seika Pharma. No financial details were disclosed, other than that the impact on total sales is expected to be minor.
Mitsui Chemicals Agro Acquire Meiji Seika Pharma’s Agrochemicals Business
The acquired business is based in Tokyo with a manufacturing subsidiary in Iwate and six branch offices, employing 110. It will be fully integrated into Mitsui Chemicals Agro. The company offers various formulations, including:
* Probenazole, the world’s first systemic acquired resistance type fungicide
* Glufosinate-P, a distinctive non-selective herbicide; and
* Flupyrimin, an insecticide designed not to impact bees and other pollinators
Mitsui Chemicals Agro is seeking “to become an R&D-driven company with a global presence in the agrochemicals field”, as well as extending its professional pest management business. It said that the acquisition will help bolster its ongoing creation of new active ingredients.
About Mitsui Chemicals Agro
Mitsui Chemicals Agro Inc. manufactures agricultural chemicals. The Company researches, develops, manufactures, sells, and trades pesticide and fertilizers. Mitsui Chemicals also manufactures and sells non-agricultural pesticide, as well as provides environmental management services.
About Meiji Seika
Meiji Seika Kaisha, Ltd. (明治製菓株式会社, Meiji Seika Kabushiki-gaisha) is a Japanese snack food company. It is the trade name of a pharmaceutical company in Japan. It was renamed into the Meiji Seika Pharma Co., Ltd. (Meiji Seikaファルマ株式会社, -Faruma Kabushiki-gaisha) on March 31, 2011. It is currently a subsidiary of Meiji Holdings.
It was the confectionery and pharmaceutical company that manufactures a wide range of products including Hello Panda and Yan Yan. Its competitors include Ezaki Glico, Kabaya, Lotte Confectionery and Morinaga.
They acquired the Stauffer Biscuit Company based in York, Pennsylvania, USA in 2004.
On April 1, 2009, Meiji Seika Kaisha, Ltd. and Meiji Dairies Corporation established a joint holding company, Meiji Holdings, which is a constituent of the Nikkei 225 index. Two years later on the day, the food and healthcare business was taken over by Meiji Dairies to form “Meiji Co., Ltd.”, and Meiji Seika was reorganized to a pharmaceutical company “Meiji Seika Pharma Co., Ltd
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