UPL Sets Up New Global Biz Unit In Natural Plant Protection
Agro-chemicals major UPL on Monday said it will set up of a new global business unit in natural plant protection (NPP).
NPP will act as a standalone brand, consolidating UPL's existing biosolutions portfolio, network of research and development (R&D) laboratories and facilities worldwide, which currently accounts for 7 per cent of UPL's total revenues, the company said in a statement.
The unit's global offering will continue to benefit from UPL's extensive global distribution footprint, drawing on innovation, research and development capabilities, and will be supported by UPL's unique, proven ability to rapidly bring products to market on a global scale.
According to the company, the new extensive portfolio will play a vital role addressing farmers' pain points – including abiotic stress, soil health, residues, and resistance management – in developed and developing agricultural markets alike.
Commenting on the development, UPL Ltd Global CEO Jai Shroff said, '...NPP will work across UPL's global footprint to shape and scale the biological technologies of the future.” UPL Ltd CEO (NPP) Fabio Torretta said, 'The biosolutions market is set for double-digit growth to USD 10 billion by 2025, compared to traditional agrochemicals, which are projected to experience single digit growth. NPP is well positioned to shape a more sustainable food future.' One of NPP's greatest strengths will be the company's ability to cross-pollinate innovation across regions, understanding and learning from the needs of one market to increase the speed and depth of penetration into another market, the company said.
NPP will be agile in adding products and platforms to its portfolio, creating global partnerships and training programs, contributing to environmental sustainability, farmer resilience, and improving food value chains worldwide, it added.
UPL is present in more than 130 countries. Its portfolio consists of biologicals and traditional crop protection solutions with more than 13,600 registrations.
(PTI)
