United Phosphorus buys DowAgro’s propanil
Agrichemicals and speciality chemicals firm United Phosphorus Ltd. said on Thursday it had bought the global propanil herbicide business of DowAgroSciences LLC for about $25 million.
United Phosphorus and its subsidiaries throughout the world can start selling Propanil and its formulations immediately, it said in a statement. The total turnover of this product in 2005 was $18.9 million.
Propanil is a global product with more than 100 registrations in over 30 countries in North America, Latin America, Europe, Africa and Asia-Pacific.
"This purchase will further strengthen the company’s position in the rice herbicide segment," United said in the statement.
This is the sixth acquisition by the company in this calendar year, it said. The revenues of United and its subsidiaries were $410 million for the year to March 2006.
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