Sumitomo Plans to Raise Its Revenues by Q4 2014
CHEMMONITOR.COM - Trading company Sumitomo (Japan) raised its interest in Malaysian fertilizer company Union Harvest (UHM) to 60%. This step will assist Sumitomo Corporation and Sumitomo Corporation Asia & Oceania in expanding and strengthening their business in Asia. The financial terms and details of the transaction remain unclear. In 2004, Sumitomo bought a 20% stake in UHM.
UHM runs a compound fertilizer facility at the Kuantan site (Pahang, Malaysia).