JV in the crop care segment to provide a pipeline of new generation products and applications
Mahindra Agri Solutions, a subsidiary of Mahindra & Mahindra, has entered into a joint venture agreement with Sumitomo Corporation Group, Japan, a global player in multiple industries including crop care, having access to the latest crop protection technologies. The joint venture will have Mahindra and Sumitomo Corporation holding 60% and 40% equity respectively in the new company named Mahindra Summit Agriscience, subject to the parties receiving all applicable approvals. The combined strength of both the shareholders will leapfrog MASL's crop care business into the next orbit of growth.The partnership will offer a pipeline of specialty, new generation products with unique and latest molecules to effectively manage pest and insect related challenges faced by farmers.
The joint venture will benefit from the expertise of both the companies - Mahindra's strong rural presence and Sumitomo's unique know-how and Japanese technology. Mahindra will contribute through its strong farmer connect, wide spread domestic distribution and agriculture expertise, while Sumitomo Corporation has strong ties with large Japanese crop protection innovator companies which will result in the JV having access to latest global technology for minimising crop damage and increasing the yield.
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