Mitsui Chemicals Agro Acquires Additional Shares of Sotus in Thailand
2016.01.29
Mitsui Chemicals Agro, Inc.
Mitsui Chemicals Agro, Inc. (Tokyo, President & CEO: Kazunori Tani, “MCAG”) announced today that MCAG acquired additional shares of Sotus International Co., Ltd. (“SOTUS”), an agrochemicals company in the Kingdom of Thailand, as of January 21st, 2016. Having reached a share sale and purchase agreement with Pacific Agriscience Pte., Ltd. (“PA”), a shareholder of SOTUS, MCAG acquired all the PA-owned shares of SOTUS to increase its shareholding ratio to 16.2% of SOTUS’s total shares.
To enhance its overseas business, MCAG agreed to a business and capital tie-up with SOTUS and acquired 10% of its outstanding shares in 2011, to secure a production base in the growing Southeast Asian market.
In 2013, in order to strengthen its development capability in Southeast Asia, MCAG established a formulation research hub together with SOTUS, which has since become an important partner to MCAG.
The present transaction will enable MCAG to reinforce its partnership with SOTUS and to drive further success by accelerating development of new products in Southeast Asian markets.
About SOTUS (as of January 21st, 2016)
| (1) Company Name: | Sotus International Co., Ltd. |
| (2) Line of Business: | -Importation, formulation, domestic commercialization of crop protection and non-crop chemicals/fertilizer business -Pest control operation business |
| (3) Foundation: | April 1st,1996 |
| (4) Head Office: | Nonthaburi, Thailand (Near Bangkok) |
| (5) Chairman & CEO: | Yanyong Prathuangwong |
| (6) Capital: | 200 million Baht |