Indorama Corp. Pte Ltd. announced on Nov. 1 that its subsidiary, Indorama Holdings Brasil Ltda. (IHBL), has competed the acquisition of Adfert Aditivos Industria e Comercio Ltd., and its affiliates. All conditions precedents have been fulfilled and customary regulatory approvals have been received.
Indorama said Adfert, founded in 2009 and based in Uberlândia, Minas Gerais, is a pioneer and one of the largest manufacturers of special fertilizer additives and crop nutrition solutions in the Brazilian market. It said Adfert has a portfolio of high technology and patent protected products for supply to fertilizer producers and agri distributors.
IHBL, through its wholly owned subsidiary, Adufértil Fertilizantes Ltda. (ADF), operates one of the top six granular NPK distributors in Brazil, based in Jundiaí, Sao Paulo. IHBL concluded the acquisition of ADF in September 2021, which marked the entry of Indorama into Brazil’s agricultural market.