Meghmani to expand agro-chem marketing base in Indonesia

By ENN,
Ahmedabad: An Indonesian subsidiary of Meghmani Organics Ltd (MOL), listed in Singapore and on the BSE and the NSE, plans to expand its agro-chemical marketing base, the company said here today.

Incorporated on November 26, 2008, as PT Meghmani Organics Indonesia, in Jakarta with the specific objective of setting up retail operations for its agrochemical products, the company will function as MOL?s own distribution network for branded products outside India, said Mr Natu Patel, Managing Director.

The Indonesian market for pesticides is one of the fastest growing in the world, currently valued at over $360 million. Through its subsidiary, MOL expects to gain around 10 per cent market share in the second full year of operations in the category of products registered already in Indonesia, and incremental growth thereafter.

Registrations of six brands have been received and more are expected in the coming months. In the first phase, retail operations have been set up in the islands of Sumatra and Java, with appointment of some 15 distributors, while in the second phase, the island of Sulawesi will be added with 10 more distributors. Coverage of smaller islands will be planned in a phased manner thereafter, Mr Patel said.

Once the targets are reached in Indonesia, MOL would replicate this model in other neighbouring countries.

Established in Gujarat in 1986, Meghmani manufactures pigments and agrochemicals, specialising in green and blue pigment products that have multiple applications in a range of industries.

It also produces commonly used pesticides for crop and non-crop applications and has as its customers leading pesticide manufacturers from North America, Europe, Latin America and Asia.