Sumitomo Chemical and Valent BioSciences Announce Divestiture of Pace International and Future Collaboration with AgroFresh Solutions in the Postharvest Solutions Space
SUMITOMO CHEM UNSP/ADR (SOMMY)
NASDAQ:AMEX Investor Relations:
sumitomo-chem.co.jp/english/ir
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Source: Business Wire
LIBERTYVILLE, Ill.--(BUSINESS WIRE)--Sumitomo Chemical Co., Ltd. and Valent BioSciences LLC announced today that Pace International LLC (Pace) and its operations overseas will become part of AgroFresh Solutions, Inc., a well-established leader in the postharvest solutions space. The decision to divest the Pace International business unit is part of Sumitomo Chemical’s strategic realignment efforts. Sumitomo Chemical and Valent BioSciences also plan to develop a strategic research collaboration with AgroFresh. Under this collaboration, Sumitomo Chemical and Valent BioSciences will continue working together in developing innovative new postharvest solutions and bringing them to the market with AgroFresh’s global market access.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240327760852/en/Valent Biosciences and AgroFresh are committed to providing a smooth transition to Pace’s employees, customers, and other stakeholders.
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