United Phos buys Dow Agro’s herbicide unit
United Phosphorus (UPL), the country’s largest agrochemical company, today announced the acquisition of the global propanil herbicide business of Dow AgroSciences LLC. The deal cost is pegged at $25 million (nearly Rs 115 crore) including inventories.
The propanil business divestment by Dow AgroSciences is part of its increased focus on priority molecules.
Under the buyout agreement, UPL and its subsidiaries throughout the world can start selling Propanil and its formulations immediately. In 2005, the product’s turnover stood at $18.9 million.
Propanil is a selective, post-emergence foliar applied, non-residual herbicide for the control of many important annual grasses, broadleaf and sedge weeds used in rice.
The product with more than 100 registrations in over 30 countries in North America, Latin America, Europe, Africa and Asia Pacific will further strengthen UPL’s position in the rice herbicide segment. With the acquisition, it will become the third-largest generic agrochemical company in the world.
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