06 April 2000 02:07 [Source: ICIS news]
SINGAPORE (CNI)--Osaka-based Ishihara Sangyo Kaisha Ltd (ISK), a specialties major with agrochemicals, titanium dioxide and pharmaceutical intermediates in its portfolio, said Thursday it is implementing a three-year plan that would build its international potency, particularly in agrochemicals.
A spokesman there said: "We want to increase sales in general to Yen35bn ($327.1m/Euro343.5m) by financial year 2002 - about 10% up from estimated fiscal 1999 sales."
ISK has several R&D projects under way to add innovative products to its slates. Details are proprietary.
To expedite the completion of those projects, the company is adding another 30 scientists and engineers to its 350-strong R&D team.
CNI understands that ISK's projects include two new insecticides for house pests and at least three more fungicides.
One of those fungicides should be in commercial production in Q3 2000. Intended to protect grape and tomato, it will be supplied from October by ISK in Asia and, through a licensing agreement, by BASF elsewhere.
The spokesman said the three-year plan includes measures to integrate sales and related services with those of major ISK shareholder Mitsui & Co, an international trader with a sizeable chemicals portfolio. "This will optimise costs and enable us to move products efficiently through a strong, existing distribution network," he added.
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