Pau, France, 07 March 2011 — Arysta LifeScience today reported it has acquired a majority of the shares of the FES Group in Russia. The transaction received approval from the Russian Federation Federal Antimonopoly Service on January 27, 2011.
“Arysta LifeScience has evolved into a high-performance company by maintaining its focus on identifying innovative products and formulations and ensuring that customers in our targeted growth markets have access to these products,” said Wayne Hewett, President and CEO, Arysta LifeScience Corporation. “By combining our global strength with the capabilities of the FES Group distribution network and their strong presence with agro-holdings, we will be able to more effectively provide customers and distributors in Russia with an expanded selection of products and solutions.”
“The acquisition of the FES Group will bring further value-added solutions to our customers in Russia and adds to the entrepreneurial spirit and customer focus of Arysta LifeScience,” said Kevin Smith, President of Arysta LifeScience S.A.S. and Business Unit Head Europe. “Together, we now have the opportunity to service the market with an expanded product portfolio and geographic footprint, enhanced technical capabilities, and strengthened supplier relationships.”
“The leadership and staff of the FES Group are very excited to be part of the Arysta LifeScience identity in the European region,” said Alexander Mikhaylov, CEO FES Group and owner of the remaining shares in the group of companies. “Our combined strength offers a very compelling proposition for Russian customers and distributors.”
Source: Arysta LifeScience Corp.
