Bayer CropScience announced today that it has divested certain fungicides to FMC Corporation, Philadelphia, USA. The transaction includes Rovral (active ingredient: iprodione) and Sportak (active ingredient: prochloraz) brand families for worldwide agricultural uses outside Europe. Financial terms of the transaction were not disclosed.
Bayer CropScience is currently restructuring its Crop Protection business - by rejuvenating its portfolio and increasing its focus on key brand families. "This divestment is in line with our global strategy to optimize our portfolio and to build a solid foundation for profitable growth," explained Sandra Peterson, Chief Executive Officer of Bayer CropScience. "And it is an excellent opportunity for us to extend our relationship with FMC, an important player in the agricultural industry."
According to Pierre Brondeau, FMC President, Chief Executive Officer, and Chairman, "This transaction is another major step in FMC’s Vision 2015 growth strategy. We continue to execute our long-term plan to grow FMC organically and through targeted acquisitions that supplement our technology portfolio and strengthen our position in critical businesses, markets and regions." Brondeau added, "This is an exciting acquisition for FMC, and we’ve been pleased to work with a well respected leader in this field, Bayer CropScience."
The main brands Rovral and Sportak are registered in more than 50 countries, and are used in a wide range of crops, including cereals, canola, soybean, rice, potatoes, fruits and vegetables. They offer excellent fungicidal performance in terms of disease control, are well suited to Integrated Pest Management strategies, and are useful tools in anti-resistance programs.
About Bayer CropScience
Bayer is a global enterprise with core competencies in the fields of health care, nutrition and high-tech materials. Bayer CropScience, a subgroup of Bayer AG with annual sales of EUR 6.830 billion (2010), is one of the world’s leading innovative crop science companies in the areas of crop protection, non-agricultural pest control, seeds and traits. The company offers an outstanding range of products and extensive service backup for modern, sustainable agriculture and for non-agricultural applications. Bayer CropScience has a global workforce of 20,700 and is represented in more than 120 countries. This and further news is available at: http://www.press.bayercropscience.com.
FMC Corporation is a diversified chemical company serving agricultural, industrial and consumer markets globally for more than a century with innovative solutions, applications and quality products. With sales of approximately $3.1 billion, the company employs approximately 5,000 people throughout the world and operates its businesses in three segments: Agricultural Products, Specialty Chemicals and Industrial Chemicals. For more information, visit http://www.fmc.com.
Find more information at http://www.bayercropscience.com.