Research
Triangle Park, North Carolina
March 24, 2006
Bayer CropScience
LP today announced the sale of its on-farm application seed
treatment business to
Chemtura
Corporation, Middlebury, Connecticut.
The transaction includes the sale of the Trace
seed treatment product line and a 14-person formulation
operation in Pekin, Illinois, as well as access by Chemtura to
certain Bayer CropScience active ingredients, registrations and
trademarks.
Terms of the transaction were not disclosed.
Bayer CropScience acquired the Trace product line
and operations through its March 2004 purchase of the Gustafson
seed treatment business. Gustafson was merged into Bayer
CropScience LP at the end of 2005 following that purchase.
“Although the Trace business is strong in its
market segment, it is not viewed by Bayer CropScience as a part
of our core seed treatment business,” said Bill Buckner, head of
the U.S. crop protection business for Bayer CropScience.
Buckner explained that as part of the ongoing
development of the Bayer CropScience seed treatment business,
the company has decided it can better meet the crop protection
needs of growers by focusing its seed treatment portfolio on
seed companies and conditioners and the distribution channel.
Bayer CropScience is working with Chemtura to
ensure that the transition of the Trace business and operations
is as seamless as possible to help provide uninterrupted market
access to the Trace product portfolio.
Bayer CropScience LP is the U.S. business of
Bayer CropScience, which has its global headquarters in Monheim,
Germany. 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. |
