UPL to buy DuPont’s herbicide biz
United Phosphorus Ltd (UPL) on Wednesday announced to acquire from DuPont Co its bensulfuron-methyl business, including Londax herbicide and all its mixtures, throughout the world (excluding the Asia Pacific region) at a cost of $15 million. Mr Rajju Shroff, Chairman and Managing Director, UPL, told Business Line that bensulfuron-methyl would be initially marketed through its 38 subsidiaries across 80 countries. It is a rice and aquatic herbicide for the developing countries and enjoys margins as high as 50 per cent, he added.
Mr Shroff also said the company has signed a production agreement for agrochemicals developed by Ishihara Sangyo Kaisha Ltd (ISK), Japan. UPL with ISK and Mitsui & Co Ltd (Mitsui) will establish a joint venture for the development, registration and distribution of ISK products in India and other countries. "
ISK is a strong research-based company with patented products. With ISK we will make our first foray in patented agrochemicals. Some of the products would be registered in India," he said. He added that UPL in 2005-06 had a turnover of $480 million and is expected to grow by 25 per cent in the current year. UPL shares closed at Rs 243.35, up by 4.40 per cent on the BSE on Wednesday.
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