18 December 2012 18:31 [Source: ICIS news]
HOUSTON (ICIS)--Japan's Sumitomo Chemical has acquired a majority interest in US pesticide maker MGK, the companies said on Tuesday.
"MGK will remain focused on its core business strategies under Sumitomo Chemical, said MGK president Steve Gullickson.
The Gullickson family, majority shareholders for four generations, remains a minority shareholder in MGK.
Specific terms of the deal were not disclosed.
MGK, one of the first companies to commercially develop naturally-derived pyrethrum into insecticide, becomes a subsidiary of Sumitomo Chemical.
MGK and its subsidiaries employ 250 people at its facilities in North America, Europe, Africa and Australia.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections