United Distributors Pakistan Limited (UDPL) has announced that it has signed a non -competitive contract with the FMC Corporation, a US -based company based in Delaware, about some over -leaping business activities.
According to the disclosure filed on the Pakistan Stock Exchange, the FMC Corporation has agreed to pay UDPL $ 6 million under arrangements. The company confirmed that the payment was received.
The deal also covers business activities related to FMC United (Private) Limited. UDPL is busy preparing pesticides and fertilizers.
Following this announcement, shares of United Distributors Pakistan Limited (UDPL) increased by rupees. 93.95, RS. 5.99 or 6.81 %.
According to the company’s website, the UDPL was founded in 1981, initially serving as a partition partner for global agricultural firms, including Dow Agri Sciences, FMC, and Panier. In 1991, UDPL entered joint venture with FMC and Paneer, which played a key role in expanding its business in Pakistan before establishing a local subsidy.