Japan’s Sumitomo Chemical buys additional stake in US’ MGK

18 December 2012 02:52  [Source: ICIS news]

SINGAPORE (ICIS)--Japanese producer Sumitomo Chemical said on Tuesday it has raised its stake in McLaughlin Gormley King Co (MGK), making the US-based insect control technologies firm its 76.36%-owned subsidiary.

Sumitomo bought the additional 43.48% stake from MGK’s founders – the Gullickson family.

Financial details of the acquisition were not disclosed.

“The move strengthens Sumitomo Chemical’s presence in North American environmental health markets, and will enable faster product innovations for MGK,” the Japanese firm said n a statement.

MGK has 253 product registrations with the US Environmental Protection Agency (EPA) for insect control products and sells its products into more than 60 countries.

By: Pearl Bantillo
+65 6780 4359

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