Dow AgroSciences Divests European Dithane Business to Indofil
Dow AgroSciences LLC, a wholly owned subsidiary of The Dow Chemical Company, has divested its European Dithane® fungicide business to Indofil Industries Ltd. of Mumbai, India.
The agreement includes only Dithane® products sold in Europe and does not include other parts of the Dow AgroSciences’ Dithane business.
Indofil, part of India’s K.K. Modi Group, has purchased the rights and associated trademarks of Dithane® only in Europe, exclusive rights to use the patented NT technology and related trademarks in Europe, Dithane® registrations and data to support these, and the customer contracts which can be assigned.
“Dow AgroSciences remains committed to the Dithane® business in other parts of the world where we have production assets and are better able to compete over time,” says David Hindes, Global Fungicide Business Leader. “This divestment will allow us to focus our European investment on new novel chemistries in the future.”
Indofil was the manufacturer and distributor of Dithane® in India for 40 years under Rohm and Haas. “Indofil is excited to welcome the Dithane product back in its portfolio, and is committed to growing the Dithane® market across Europe, through active collaboration with all partners,” says R.K. Malhotra, CEO, Indofil Industries Limited.
Financial terms of the agreement were not disclosed.
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