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Nufarm and Sumitomo Expand Cooperation

12:07 AM MDT | March 19, 2012 | Deepti Ramesh

Agchem firm Nufarm (Melbourne) and Sumitomo Chemical say they have entered into new distribution arrangements for Canada and three European countries--Hungary, Romania and Ukraine. Sumitomo increased its shareholding in Nufarm from 20% to 21.7% in May 2011 and also planned to acquire up to an additional 1.3% of Nufarm’s issued capital. Sumitomo had acquired a 20% stake in Nufarm in April 2010 via a tender offer, and the two companies also entered into an agreement to cooperate across a number of business areas. According to the new distribution agreement...

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