INDIA BUSINESS WORLD - AUGUST (16th - 31st) 2007
The Month that was ...
UNITED PHOSPHORUS ACQUIRES ARGENTINE COMPANY
United Phosphorus, a $560-million agrochemicals company based out of Mumbai, has bought 100% equity in Argentine company ICONA San Luis SA that manufactures and distributes crop protection products. This is the third major acquisition for United Phosphorus this year after buying the US-based Cerexagri, which has interests in speciality crops, and the global rights to two tin compounds from DuPont. "This acquisition provides United Phosphorous with a much stronger platform to expand and strengthen its presence in Argentina," said Jai Shroff, the chief executive officer of the company. "After considerable growth both organically and acquisitions in the USA, Europe, and in India, United Phosphorous has been actively pursuing opportunities for growth in the other regions," Shroff said in a statement.
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