Punjab Chemicals to buy Argentina Co for $10 mln

New Delhi, Nov 16 (UNI) Punjab Chemicals and Crop Protection Ltd today said it will buy Argentina's Sintesis Quimica jointly with its 100 per cent Europe based subsidiary SD Agchem for 10 million dollars.

''This acquisition will bring us more aggressively in the Latin American market. To acquire 100 per cent shareholding of Sintesis Quimica, the final share/purchase agreement and other legal formalities will be completed in due course,'' a statement said.

Sintesis Quimica has two manufacturing facilities in the outskirts of Buenos Aires and is engaged in agro chemicals, formulations and industrial products.

UNI PV CS GC1357