Nihon Nohyaku to Acquire Stake in Hyderabad Chemical
18 December 2014 Japanese firm Nihon Nohyaku is looking to acquire a 74% stake in Hyderabad Chemicals Ltd, a medium-sized agrochemical manufacturer for $88 million, according to reports from India’s Business Standard and VVCircle.com. The remaining 26% stake will be held by the promoters of the company.
According to Business Standard, “Hyderabad Chemicals was established in 1971 by first generation entrepreneur Ramesh Gandhi for providing crop protection chemicals to farmers. Its plants and formulation facilities at Balanagar and Pashamylaram in Hyderabad and Jammu manufacture a range of technical grade pesticides and pesticides formulations. The formulations produced by the company include emulsifiable concentrates, suspension concentrates, wettable powders, water soluble powders, encapsulated granules and water dispersible granules.”
Read more about the transaction here.
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