UPL has established a subsidiary, UPL Lanka Bio, in Sri Lanka to focus on the nation’s agricultural biologicals market. The entirety of the entity’s shares is to be held by the company’s Mauritius-based arm, UPL Mauritius, making it a “step down wholly owned subsidiary” of UPL. The development will see the Mauritian unit infusing up to $2 million into the newly incorporated Sri Lankan division over the next three years.
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