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Sumitomo Buys Remaining Stake in Isagro Italia
10:04 PM MST | January 27, 2011 | Deepti Ramesh
Sumitomo Chemical says it has decided to acquire the 50% it did not own of agchem distributor Isagro Italia (Milan, Italy) from Isagro (Milan), in order to strengthen its agchem business in Europe. Isagro Italia will become a wholly owned subsidiary of Sumitomo, and the company will be tentatively renamed Sumitomo Chemical Italia. Financial terms were not disclosed. Sumitomo purchased a 50% stake in Isagro Italia in 2002 to expand sales of Sumitomo’s agchems in Italy. Isagro Italia, a major supplier in the Italian agchem market, had sales of €81...
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