Indian agrochemical major, Crystal Crop Protection (CCPPL) on Monday said it has signed an accord with Germany’s BASF to acquire Bavistin — a fungicide brand in the country for many years.
With the introduction of Bavistin, CCPPL aims to counter spurious brands present in the market and provide genuine qualitative solutions to the Indian farmer, the company said.
“Used widely on India’s largest crop, rice, it is also used in over 20 other crops,” the company said in a statement. “With the addition of Bavistin, Crystal expects to boost its topline by 7-8 per cent.”
“We aim to promote Bavistin to progressive farmers who are capable of propagating the benefits to their community members,” said Anil Jain, Director, Strategic Business, Crystal Group.
“Our focus in the domestic market will be on Maharashtra, Andhra Pradesh and Karnataka where we hope to sell 60 per cent of the total production, while the rest 40 per cent in other parts of the country,” he added.
Ankur Aggarwal, Managing Director of Crystal Group, said the company will expand its footprint among the vegetable and fruit growers.
The company said it works in three business verticals: agrochemicals, agro-equipment and seeds. At present, the company has an international footprint in Egypt, Nigeria, Saudi Arabia, UAE, Turkey and Bangladesh, and plans to expand to Latin America, Zambia, Zimbabwe and South Africa.
“Good manufacturing practices and stringent quality control are the Crystal’s cornerstones,” the company added.
Source: Business Standard
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Abu Dhabi National Oil Co. (Adnoc) is considering plans to acquire upstream oil and gas company Wintershall DEA, an affiliate of BASF SE, according to a Bloomberg report citing people with knowledge of the matter. A deal to acquire Wintershall DEA could be worth more than €10 billion, the report said. BASF and Adnoc declined to comment on the report.
