UPL to realign specialty chemicals business

摘要

UPL has decided to hive off its specialty chemicals business,focusing on several industries including crop protection,to its wholly owned subsidiary,UPL Specialty Chemicals,on a slump sale basis for INR 35,720 million($432 million at the current rate).UPL anticipates the development aiding it to scale up its specialty chemicals operations at a faster pace,besides enabling the company to accelerate its business-to-business(B2B)active ingredient manufacturing activities through partnerships outside of the UPL Group.UPL Specialty Chemicals focuses on manufacturing and supplying chemicals to the Group’s global crop protection business outside India,UPL Corporation,as well as UPL Sustainable Agri Solutions(SAS),which houses the Group’s Indian crop protection operations,the Mumbai-based crop protection subsidiary,SWAL,the Bengaluru-based agriculture connectivity arm,Nurture.Farm,and the corporate social responsibility unit,Adarsh Farm Services.