SDS Biotech acquires Sree Ramcides
SDS Biotech, the agrochemical subsidiary of Japanese company Idemitsu Kosan, has acquired a 65% stake in Indian agrochemical company Sree Ramcides (Chennai) for around Rs 1,180 million ($21.9 million), reports Indian newswire Mydigitalfc.com. The Indian company has three manufacturing facilities at Chennai, Jammu and Pudukottai. It claims to have a strong presence in India and Africa. SDS reportedly intends to make India its manufacturing hub. The new joint venture, SDS Ramcides Crop Science, will invest Rs 1,500 million ($27.9 million) over five years and set up a manufacturing facility. It targets a turnover of Rs 5,000 million ($93 million) within five years.