UPL invests $30 m in Brazil R&D facilities
United Phosphorus (UPL) is investing some $30 million in pesticide research and development facilities in Brazil, the generic pesticide association, Aenda, reports. The funds will be split between its facility in Ituverava, and building a new plant in Campinas, both in Sao Paulo state, according to media reports. The company seeks to make the new facility its “centre of excellence in Latin America”. The company is seeking to quadruple its sales in Brazil over the next five years, Valor Economico reports. It realised sales of $243 million in Brazil last year, but targets revenues of $1,000 million over the period, with the market accounting for a quarter of sales, up on 15% of UPL’s business of last year.