Japan's Earth to own major stake in new Neumann & Mueller unit

Economy

Japanese insecticide maker Earth Corp. will acquire a major stake in a new company to be set up by Neumann & Mueller Philippines Inc. to expand into the Southeast Asian country. Earth said it has signed a deal to buy 66.7 percent of the new company that will engage in sales of pesticide products as well as household and pet care products. The latest acquisition of shares is estimated at several billions of yen. The deal with Neumann & Mueller shareholders is expected to be completed as early as the end of the year, setting the stage for Earth to move ahead with a plan to purchase an additional...

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