PI Industries Limited (PI) and Kumiai Chemical Industry Co. Ltd. (Kumiai) jointly entered into an agreement to establish a Joint Venture Company (JVC) in India on 22nd June 2017.
Mr. Koike, President of Kumiai and Mr. Mayank Singhal, MD and CEO of PI said on this occasion that “both the companies are associated for more than forty years and this joint venture will further strengthen our relationship and help us bring superior innovative solutions in India to enhance farm productivity and also leverage manufacturing efficiencies of India under “Make in India” initiative”.
This JVC is being set up initially to manufacture and distribute Bispyribac Sodium, one of the flagship agrochemical products of Kumiai, in India to achieve operational efficiencies and further growth. Kumiai and PI, after due consultation, may also add more products to JVC portfolio in future for evaluation, manufacture, registration and distribution in India to leverage PI’s deep understanding of Indian agriculture, brand and reach with the Indian farmers and Kumiai’s robust research and development capabilities for new products.