MANA Shares Licensing, Buys Formulator
Makhteshim Agan of North America, Inc. (MANA) made a licensing deal and bought a formulator this week. Both moves will allow the company to expand its offerings.
October 27, 2009
It was a busy week for Makhteshim Agan of North America, Inc. (MANA). The company hammered out a license agreement with DuPont and purchased Bold Formulators, LLC.
The royalty-bearing license agreement with DuPont Crop Protection centers on patents related to a novel homogeneous blend technology that enables the efficient combination of different pesticides.
Accordng to a DuPont press release, this agreement confirms the validity of certain DuPont patents granted in the United States and Canada and settles the litigation claims between MANA and DuPont regarding the U.S. patent. Additional details of the agreement were not disclosed.
MANA also has acquired Bold Formulators, LLC, a leading custom formulator, manufacturer, and packager of agrichemical products, with facilities in Tifton and Ocilla, GA. Financial details of the transaction were not disclosed.
"The acquisition of Bold Formulators has significant strategic importance for MANA because it provides extensive formulation and production capability within the United States. This improves MANA's flexibility and response time in meeting the changing needs of our customers," says John C. Rabby, president and CEO of MANA, headquartered in Raleigh.
MANA plans to retain the staff, assets and status of Bold as an independent contract formulator, along with the company's name. Jim Workman will continue as president of Bold. "This is an expected and very positive event for Bold because MANA will now be able to help Bold move forward with additional investment in new equipment, technologies, and capacity,” says Workman.