Philippines' Calata teams up with Marubeni for farm product testing
CLIFF VENZON, Nikkei staff writer
MANILA -- Calata Corp., a publicly listed farm supply distributor, has teamed up with Japan's Marubeni for agricultural product testing that could lead to a possible joint venture.
Calata, in filing to the Philippine Stock Exchange on Tuesday, said the agreement calls for the establishment of "test farms here in the Philippines to test the viability of Marubeni's agricultural chemical products in the Philippine market and with the objective of concluding a profitable business and commercial partnership."
Marubeni is one of Japan's largest and most diversified general trading companies, with an annual gross profit of 651.1 billion yen (about $6.5 billion) as of end-March.
Calata is primarily a distributor of agro-chemicals, feeds, fertilizers, veterinary medicines and other agricultural products. The company has recently expanded into manufacturing of feeds and has ventured into the meat business.
"This partnership (with Marubeni) is envisioned to draw additional business opportunities that will further increase the company's continuing business growth as well as its continuous drive to be the country's leader in the agribusiness industry," Calata said in the filing.