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Bayer CropScience to divest a limited no of crop protection products to United Phosphorus
Posted On : 2006-08-30 09:41:10( TIMEZONE : IST )
Bayer CropScience Ltd has announced that Bayer CropScience AG, Monheim, Germany, and United Phosphorous Ltd (UPL), Mumbai, India, have announced on August 30, 2006, that UPL purchased certain crop protection products from Bayer CropScience. The respective sale and purchase agreements were signed on August 29, 2006. The combined purchase prices total 43.5 million EUR including inventories.
The divestment includes the systemic carbamate herbicidal active ingredient Asulam (brand names Asulox®, Asilar®) and two insecticidal products. Bayer CropScience has retained certain rights related to non-agricultural uses in strategic markets.
For Bayer CropScience the decision to divest these products is in line with the company’s strategy to focus on higher-margin products and therefore streamlining the portfolio. The acquisition of the Bayer CropScience´s divested products is concurrent with UPL’s strategy of enhancing its product portfolio across geography with an intention to offer a broad portfolio of solutions to its customers.
