Bayer CropScience Divests Key Fungicides To FMC
December 8, 2011 Bayer CropScience has divested certain fungicides to FMC Corp., Philadelphia, PA. The transaction includes Rovral (iprodione) and Sportak (prochloraz) brand families for worldwide agricultural uses outside Europe. Financial terms of the transaction were not disclosed.
Bayer CropScience is currently restructuring its Crop Protection business – by rejuvenating its portfolio and increasing its focus on key brand families. “This divestment is in line with our global strategy to optimize our portfolio and to build a solid foundation for profitable growth,” explained Sandra Peterson, Chief Executive Officer of Bayer CropScience. “And it is an excellent opportunity for us to extend our relationship with FMC, an important player in the agricultural industry.”
According to Pierre Brondeau, FMC President, Chief Executive Officer, and Chairman, “This transaction is another major step in FMC’s Vision 2015 growth strategy. We continue to execute our long-term plan to grow FMC organically and through targeted acquisitions that supplement our technology portfolio and strengthen our position in critical businesses, markets and regions.” Brondeau added, “This is an exciting acquisition for FMC, and we’ve been pleased to work with a well respected leader in this field, Bayer CropScience.”
The main brands Rovral and Sportak are registered in more than 50 countries, and are used in a wide range of crops, including cereals, canola, soybean, rice, potatoes, fruits and vegetables. They offer excellent fungicidal performance in terms of disease control, are well suited to Integrated Pest Management (IPM) strategies, and are useful tools in anti-resistance programs.
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