Dow AgroSciences Acquires Remaining Interest in RohMid from BASF
As a result of its acquisition of Rohm and Haas Company's agricultural division in June, Dow AgroSciences LLC has acquired the remaining 50 percent of RhoMid LLC from BASF.
RohMid was established as a joint venture between American Cyanamid Company and Rohm and Haas Company in 1995. Following the acquisition of the American Home Products crop protection business in July 2000, BASF acquired American Cyanamid Company's interest in RohMid.
Under RohMid's joint venture agreement, the sale of the American Home Products crop protection business triggered Rohm and Haas' right to acquire the remaining 50 percent interest in RohMid. Dow AgroSciences exercised this right as the new owner of Rohm and Haas' former agricultural division.
RohMid sells MACH 2 turf insecticide* in the U.S. MACH 2 is an acronym for molt-accelerating compound halofenozide and controls white grub larvae. In 1998, it received the Presidential Green Chemistry Award from the U.S. EPA.
According to A. Charles Fischer, president and CEO of Dow AgroSciences, "Similar to our purchase of the Rohm and Haas Company agricultural division, the RohMid acquisition supports our value growth strategy. Adding a profitable niche product such as MACH 2 further enhances the Dow AgroSciences' turf and ornamental portfolio."
John Rabby, group vice president of BASF Agricultural Products, North America added, "BASF will continue to focus on marketing its proprietary product portfolio of herbicides, fungicides and fumigants to the turf and ornamental industry."
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