Punjab Chemicals to expand in US
Indian company Punjab Chemicals and Crop Protection (Mumbai) has decided to enter into a US joint venture agreement with US company Source Dynamic. Punjab Chemicals will initially invest some $400 in a 40% shareholding in the new company, PSD Chemicals, which will sell and distribute agrochemicals. It will be based in New Jersey. The move marks further expansion in the Americas for Punjab Chemicals, which recently completed the acquisition of the Argentine agrochemical formulator, Sintesis Quimica (Agrow No 509, p 4).