Bayer CropScience divests Rovral and Sportak fungicides to FMC
Bayer CropScience announced that it has divested certain fungicides to FMC Corporation, Philadelphia, USA. The transaction includes Rovral® (active ingredient: iprodione) and Sportak® (active ingredient: 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.”
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