Summit Agro expands into Russia
Summit Agro, the agrochemical business of Japanese trading company Sumitomo Corporation, has established a subsidiary in Russia. The Moscow-based company is expected to start operations this month and has 14 employees. It will sell pesticides from Japanese manufacturers and maize, sunflower and oilseed rape seed from European companies to farms and distributors in Russia. The aim is to achieve sales of ¥,000 million ($8.8 million at the current exchange rate) in 2010, Sumitomo says.