Wilmington, DE (PRWEB) August 20, 2014
DuPont Crop Protection (DuPont) today announced an agreement with Mitsui & Co., Ltd. (Mitsui) for DuPont to sell its global Kocide® and ManKocide® copper fungicide business assets to Mitsui. The sale is expected to close in the fourth quarter of 2014, subject to approvals from applicable regulatory authorities. Financial terms of the agreement were not disclosed.
As part of the transaction, Mitsui will acquire DuPont Crop Protection’s global copper fungicide trademarks (including the DuPont™ Kocide® and ManKocide® brands); product registrations; registration data; manufacturing know-how (including process patents); certain third-party contracts; and DuPont’s Houston, Texas, copper fungicide production facility.
“This agreement is another step in the execution of our DuPont Crop Protection business growth strategy,” said Rik Miller, president, DuPont Crop Protection. “The agreement further enhances our focus on innovative new offerings that drive profitable growth both today and over the long term.”
Under the agreement, DuPont will continue to sell Kocide® and ManKocide® branded products within Asia Pacific exclusively for a period of up to five years under a supply and distribution agreement and also will continue to supply DuPont’s current copper fungicide mixture partner needs globally.
Kocide® copper fungicides remain important fungal and bacterial disease management tools and are registered for use in more than 75 countries globally and in all major regions of the world. The most important crops for copper fungicides are grapes, citrus, olives, vegetables and fruits.
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.
Forward-Looking Statements: This news release contains forward-looking statements which may be identified by their use of words like “plans,” “expects,” “will,” "believes," “intends,” “estimates,” “anticipates” or other words of similar meaning. All statements that address expectations or projections about the future, including statements about the company’s growth strategy, product development, regulatory approval, market position, anticipated benefits of acquisitions, outcome of contingencies, such as litigation and environmental matters, expenditures and financial results, are forward-looking statements. Forward-looking statements are not guarantees of future performance and are based on certain assumptions and expectations of future events which may not be realized. Forward-looking statements also involve risks and uncertainties, many of which are beyond the company’s control. Some of the important factors that could cause the company’s actual results to differ materially from those projected in any such forward-looking statements are: fluctuations in energy and raw material prices; failure to develop and market new products and optimally manage product life cycles; significant litigation and environmental matters; failure to appropriately manage process safety and product stewardship issues; changes in laws and regulations or political conditions; global economic and capital markets conditions, such as inflation, interest and currency exchange rates; business or supply disruptions; security threats, such as acts of sabotage, terrorism or war, weather events and natural disasters; ability to protect and enforce the company's intellectual property rights; successful integration of acquired businesses and separation of underperforming or non-strategic assets or businesses and successful completion of the proposed spinoff of the Performance Chemicals segment including ability to fully realize the expected benefits of the proposed spinoff. The company undertakes no duty to update any forward-looking statements as a result of future developments or new information.
The DuPont Oval Logo, DuPont™, Kocide® and ManKocide® are registered trademarks or trademarks of DuPont or its affiliates.