United Phosphorus buys Argentine firm for $11mn

The UK-based subsidiary of United Phosphorus has acquired Reposo Saic, an Argentina-based crop protection products manufacturing company, for $11 million in an all-cash deal.

According to a release issued by United Phosphorus to the BSE today, the deal includes all assets of Reposo, products registrations, manufacturing site and property rights associated with the firm.

"Reposo is a debt-free company, and has more than 30 registrations in Argentina. It has a strong manufacturing base located at Abbot, 90 kms from Buenos Aires. For the year ended June 30, 2005, Reposo's revenue totalled $12.5 million," the release said.

"The acquisition will provide United Phosphorus a strong platform to expand and strengthen its presence in Latin America," the release added.

This is the third acquisition in the current financial year by United Phosphorus following its takeover of Cequisa, a Spanish agro-chem company with 400 registrations worldwide and sales of euro 19.3 million, and Swal Corporation, the oldest agchem player in India with revenue of over Rs 70 crore, the release said.