Punjab Chemicals set to acquire Argentina firm 'SINTESIS QUIMICA'

Mumbai, Nov 16 (UNI) Punjab Chemicals&Crop Protection Ltd and its 100 per cent subsidiary, SD Agchem (Europe) NV have entered into a MOU to buy a Company in Argentina (Latin America) namely SINTESIS QUIMICA.

Announcing this to BSE, the company said with a view to acquire 100 per cent shareholding of SINTESIS QUIMICA, the final Share Purchase Agreement and other legal formalities will be completed in due course.

The acquisition amount is 10 Million USD. SINTESIS QUIMICA has two state of art manufacturing facilities in the outskirts of Buenos Aires. The Company is engaged in Agro Chemicals, Formulations and Industrial products.

This acquisition will bring the Company more aggressively in the Latin American Market.

UNI SN PM AG1721