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- Mitsui & Co., Ltd.
Corporate Communications Division
Mitsui & Co., Ltd ("Mitsui") announced today that it has entered into a definitive agreement to acquire 100% of the shares of AgriGuard Holdings Ltd ("Agriguard"), a company manufacturing and distributing off-patent crop protection products in Ireland through Mitsui's wholly owned subsidiary Mitsui AgriScience International SA/NV ("MASI").
Agriguard manufactures and distributes off-patent agrichemicals for arable crops such as cereals and oilseed rape mainly in the U.K. market. MASI, the strategic holding company of Mitsui's European agrichemical business, centers its business on distributing proprietary products (insecticides and fungicides) from Japanese manufacturers for horticulture crops such as fruits and vegetables. This acquisition combines Agriguard's expertise and product range in agrichemicals for arable crops (herbicides) with MASI's expertise in agrichemicals for horticulture. Together, by widening the selection of products, MASI will be able to further strengthen its sales in both horticulture and arable crop markets.
Mitsui also operates Certis USA, a company manufacturing and globally distributing biological pesticides. Mitsui will continue to focus on offering a combination of quality agrichemicals and biological pesticides to global customers. Mitsui's AgriScience Business aims to grow its agrichemical business to USD 1 billion within the next 3-5 years.
|Company||AgriGuard Holdings Limited|
|Main Activities||Manufacturing and distributing of off-patent crop protection products|
|Main Brands||Setanta Flo, asset, avail, blizzard, hatchet Xtra|
This press release includes forward-looking statements about Mitsui. These forward-looking statements are based on the current assumptions and beliefs of Mitsui in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. The risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest annual report on Form 20-F, which has been filed with the U.S. Securities and Exchange Commission.
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