This agreement is another step in the execution of our DuPont Crop Protection business growth strategy. We continue to focus on delivering our science and innovative new offerings to the market that drives profitable growth.
Wilmington, DE (PRWEB) October 29, 2014
Bayer CropScience (Bayer) and DuPont Crop Protection (DuPont) announced today the signing of an agreement for Bayer to purchase certain DuPont Crop Protection Land Management assets in the United States, Canada, Mexico, Australia and New Zealand. Closing of the transaction is expected in the fourth quarter 2014, subject to customary regulatory approvals. Financial terms of the agreement were not disclosed.
This acquisition will enable Bayer’s Environmental Science business unit to offer a comprehensive portfolio of products for effective weed control for Industrial Vegetation Management (IVM). Furthermore the company will gain access to the growing Forestry and Range & Pasture business segments in North America. Under the agreement, DuPont will continue to sell its Land Management products outside the United States, Canada, Mexico, Australia and New Zealand and its range and pasture products in Mexico and Latin America.
“We are a leader in the professional environmental science market globally and the planned acquisition underlines our ambition to further grow this position in the years to come,” said Bayer CropScience CEO Liam Condon. “It allows us to provide our customers with first-choice solutions to protect and care for the environment in which we live, work and play. Keeping our railways, railroads and infrastructure clean and safe and forestry plantations more productive is part of our mission – Bayer: Science for A Better Life.”
“This agreement is another step in the execution of our DuPont Crop Protection business growth strategy,” said Rik Miller, president of DuPont Crop Protection. “We continue to focus on delivering our science and innovative new offerings to the market that drives profitable growth both today and over the long-term.”
DuPont Crop Protection is a leading supplier of land management herbicides that help land managers and utility foresters control weeds and brush to enhance public safety, improve crew productivity, and protect forestry, range and pasture values. Its current land management product portfolio includes approximately 30 established and innovative brands of herbicides marketed under names such as, DuPont™ Perspective™, Streamline™, Escort™ and Oust™ which will complement Bayer CropScience’s product offering. The acquisition of these assets includes rights in intellectual property, including registrations, data and trademarks related to the land management products.
Bayer CropScience provides industry-leading risk management solutions to professionals that are responsible for reducing risks posed by uncontrolled vegetation in industrial, forestry and natural areas. Risks include for example reduced access and visibility along transportation corridors, transmission line hazards, wildfires, reduced lifespans of infrastructure like road surfaces and railways as well as decreased productivity of forestry plantations.
Bayer is a global enterprise with core competencies in the fields of health care, agriculture and high-tech materials. Bayer CropScience, the subgroup of Bayer AG responsible for the agricultural business, has annual sales of EUR 8,819 million (2013) and is one of the world’s leading innovative crop science companies in the areas of seeds, crop protection and non-agricultural pest control. The company offers an outstanding range of products including high value seeds, innovative crop protection solutions based on chemical and biological modes of action as well as an extensive service backup for modern, sustainable agriculture. In the area of non-agricultural applications, Bayer CropScience has a broad portfolio of products and services to control pests from home and garden to forestry applications. The company has a global workforce of 22,400 and is represented in more than 120 countries. This and further news is available at: http://www.press.bayercropscience.com.
DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit http://www.dupont.com.
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