United Phosphorus plans buyouts

Agrochemical company United Phosphorus (UPL) is planning more acquisitions in Latin America, Asia Pacific, US and Europe.

The company's board will meet on December 5 to consider proposals to raise funds for acquisition and expansion plans.

"UPL is on the lookout for acquiring more companies, technology, products and product registrations. Latin America and Asia Pacific are some of the key focus areas for the company," said Arun Asher, director (finance).

UPL has made four acquisitions over the last 14 months. The company bought Argentine firm Reposo SAIC for $ 11 million in October, Cequisa, a Spanish agrochem company, Shaw Wallace Agrochem and in November 2004 it had acquired US-based Agvalue.

United Phosphorus is the largest agrochem player and is among the top five generic players globally. The company's revenues for the year ended March 2005 were in excess of Rs 1,422 crore. The company exports to 100 countries, including North America and Europe. Exports account for 70 per cent of its revenues.