Wilmington, Del. (PRWEB) December 03, 2014
Sumitomo Chemical Company, Ltd. and DuPont Crop Protection announced today that Sumitomo Chemical has acquired the DuPont™ Asana® Insecticide business in the United States. Asana® will be distributed through Valent U.S.A. Corporation, a wholly owned subsidiary of Sumitomo Chemical in the United States. The transaction is subject to approvals from applicable regulatory authorities. Financial terms of the agreement were not disclosed.
Asana® Insecticide, active ingredient esfenvalerate, is a proven control tool for a wide range of insect pests in major field crops, vegetables, tree fruits and nuts. Asana® has more than 50 crops on the product label. Its unique cottonseed oil-based formulation provides superior wash-off resistance and UV Light protection to enhance residual control of insect pests.
The active ingredient esfenvalerate, a resolved pyrethroid, was invented by Sumitomo Chemical, and it is currently commercialized in more than 60 countries. In the United States, Asana® was developed and commercialized by DuPont, providing consistent control in U.S. crop production for many years.
Director & Managing Executive Officer, Health & Crop Sciences Sector of Sumitomo Chemical Ray Nishimoto said, “We believe this agreement is very beneficial to Sumitomo Chemical and DuPont, and Sumitomo Chemical very much appreciates the long-term partnership with DuPont, and expects further development of mutual collaborations.”
“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.”
CEO of Valent U.S.A. Corporation and Valent BioSciences Corporation Andy Lee, said “With the addition of Asana® Insecticide into our growing portfolio, we at Valent look forward to bringing growers an even more broad range of proven solutions to meet their insect management needs.”
Sumitomo Chemical Company, Limited, headquartered in Tokyo, Japan, is one of Japan’s leading chemical companies, offering a diverse range of products globally in the fields of basic chemicals, petrochemicals, IT-related chemicals and materials, health and crop science products, and pharmaceuticals. For additional information, visit the company’s website at http://www.sumitomo-chem.co.jp/english/.
Valent U.S.A. Corporation, headquartered in Walnut Creek, Calif., develops and markets products in the United States and Canada that protect agricultural crops, enhance crop yields, improve food quality, beautify the environment and safeguard public health. Valent products include a well-known line of quality herbicide, insecticide, fungicide and plant growth regulator products for agricultural, seed protection and professional use. Valent is a leader in marketing and sales of both traditional chemical products and also biorational products developed by its affiliate, Valent BioSciences. For more information about Valent U.S.A. Corporation or its full product line, please call 800-6-VALENT (682-5368) or visit http://www.valent.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.
DuPont 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, timing of anticipated benefits from restructuring actions, 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.
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The DuPont Oval Logo is a registered trademark of DuPont or its affiliates. The Asana® trademark will be transferred to Sumitomo Chemical as part of Sumitomo Chemical’s acquisition of the Asana® Insecticide business from DuPont.