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PACE INT'L MEXICO MERGES WITH VALENT DE MEXICO
Source: Pace International and Valent de Mexico joint news release

Pace International, LLC (Pace), the global leader in postharvest solutions, technologies and services for the fruit industry, has announced it will merge its Pace International Mexico business with Valent de Mexico (VDM), effective April 1.

Pace was acquired by Valent BioSciences Corporation (VBC) in December 2012. Both VBC and VDM are wholly owned subsidiaries of Sumitomo Chemical Company.

The merger will be accomplished through the creation of a new Post-harvest Division within VDM. Through the integration, Pace will significantly expand its operational strength in the areas of customer service, logistics, administration, trading capacity, and geographic coverage within the region.

At the same time, Pace will maintain continuity and its relationships with existing customers in Mexico as virtually the entire sales and field staff will become employees of VDM.

"This merger is an important next step in the strategic vision of Pace and the Sumitomo Chemical Group of Companies," said Roberto Carpentier, Executive Vice President and Chief Operating officer of Pace.

"When we created Pace International Mexico in 2009, we did so as a means to strengthen our offering of industry-leading post-harvest solutions to market that is renowned for the quality of its food production. This integration with Valent de Mexico will greatly accelerate that process."

Ricardo Muņoz, General Director of Valent de Mexico, said the move illustrates the unique capabilities that the Sumitomo Group of Companies has put forward on a global scale.

"As the only multinational solutions provider with a portfolio that includes conventional, biorational, and post-harvest products," said Muņoz, "the Sumitomo Group of Companies continues to expand its distinctive market presence by bringing our knowledge, cultures, and technologies together in ways that create unique value not only in Mexico, but for our customers around the world.

We are excited about this development and the opportunities it creates for our customers and our respective organizations."


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