Japanese company Sumitomo has bought 90 percent in Romanian plant protection products distributor Alcedo for some EUR 53 million. Sumitomo is also present on the Romanian market through Sumitomo Electric Wiring Systems (SEWS), a EUR 179 million business.

Alcedo, previously owned by Romanian individual investors, posted a turnover of EUR 64.3 million in the first nine months of this year, up 38 percent from the same period in 2010.

editor@romania-insider.com