August 31, 2006
India's United Phosphorus buys three crop protection brands from Bayer
Mumbai-based pesticides manufacturer United Phosphorus Ltd has announced the acquisition of crop protection brands from Bayer CorpScience AG for EUR43.5 million.
The purchase includes the systemic carbamate herbicidal active ingredient asulam (brand names Asulox Asilan) and two anti-insecticide products
However, Bayer has retained some rights related to non-agricultural uses in strategic markets, the company said.
For Bayer CropScience divesting these products would help the company focus on higher-margin products and therefore streamline the portfolio. The acquisition is also concurrent with UPL's strategy of broadening its product portfolio.
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. The group´s revenue for the year ending Mar 2006 was in excess of US$480 million.
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.