Nufarm and Sumitomo to Jointly Expand Agchem Business

Sumitomo Chemical says the comprehensive business tie-up with agchem firm Nufarm (Melbourne) is progressing smoothly and the companies are devoting their efforts to generating early synergies. Sumitomo completed the previously announced acquisition of 20% of the total issued shares in Nufarm through a tender offer, which closed on April 9. Sumitomo signed an agreement with Nufarm last December to acquire the 20% stake for A$14/share. Sumitomo says it will expand marketing of its agchem products through a tie-up with Nufarm. In Indonesia, Sumitomo plans to...

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