Monheim, Germany
August 30, 2006
Bayer CropScience AG,
Monheim, Germany, and United
Phosphorous Limited (UPL), Mumbai, India, announced today
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®, Asilan®) 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 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.
United Phosphorus Limited is the largest Indian agrochemical
player and among the top five generic players globally in this
industry. It is engaged in research, manufacturing and
distribution of agrochemicals and specialty chemicals across the
globe. The group´s revenue for the year ending March 2006 was in
excess 480 million USD.
Bayer CropScience, a subsidiary of Bayer AG with annual sales of
about EUR 6 billion, is one of the world’s leading innovative
crop science companies in the areas of crop protection,
non-agricultural pest control, seeds and plant biotechnology.
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 about 19,000 and is represented in more than
120 countries. |