09/21/2015 14h35

Generic agrochemicals firm UPL reports strong growth in Brazil

Valor International

Installed in Brazil for over a decade, Indian manufacturer of generic agrochemicals UPL aims to join the group of seven biggest companies in the sector in Brazil until 2017 and attain revenues of $1 billion. Today UPL ranks 12 in the sector. It has invested R$500 million in research and development in the country in the last decade, with around R$45 million this year alone, in an effort to find new uses for molecules whose patents have expired. The company reports 40% growth in sales in the first half despite the recession and market sources put its Brazil revenue at $400 million. The company says it could invest up to R$200 million in a Brazilian plant that would allow it to lower the rate of imported inputs, currently at 70%.