Punjab Chemicals set for new acquisitions

In a bid towards expansion, agrochemicals firm Punjab Chemicals & Crop Protection Ltd (PCCPL) recently announced its acquisitions in the US and Europe for growing its overseas turnover to Rs 300 crore for the current fiscal.

Avtar Singh, director - operations and business development, PCCPL, said, ''We are looking at three to four agrochemicals companies based in the US and Europe for the purpose of acquisition by way of studying their product portfolios and number of registration that these companies have for their products. We are eyeing new markets such as South America, Taiwan, Korea, Japan and Australia in order to tap potential here.''

''Although the company was not eyeing big overseas manufacturers, it interested in only those that have a large number of registrations in other countries for selling agrochemical products,'' he added. The company has recently tied up with a Japanese firm for supplying 100 tonne of intermediate herbicide for five years. PCCPL is also expecting to launch one or two new agrochemical products for commercial production this year.

''We have recently introduced an agro chemical, 'Acephate', for different agriculture crops and we have completed research and development job on three to four new products and out of which one or two will be commercially produced here,'' Singh added. Expecting over 20 per cent growth, PCCPL is anticipating total sales between Rs 800 and 850 crore by 2008-09 as compared to Rs 650 crore during 2007.