UPDATE 1-Syngenta buying DuPont pest control unit for $125 mln
Wed Aug 29, 2012 1:53am EDT
Aug 29 (Reuters) - Syngenta AG said it would buy DuPont's professional products insecticide business for $125 million in cash to expand the Swiss company's range of pest-control products.
Under the terms of the agreement Syngenta, the world's largest agrochemicals company, will gain control of DuPont's pest-control brands Advion, Acelepryn and other intellectual property.
"This acquisition will contribute to our objective of increasing profitability in the lawn and garden business," Syngenta head of business development Robert Berendes said in a statement on Wednesday.
"The products we are acquiring have an excellent environmental profile while providing superior control of insects in a wide variety of applications," Berendes said.
The purchase will expand Syngenta's product range to golf course and lawn care professionals and to ornamental growers, the company said.
Earlier this year Syngenta said it would sell the Fafard peat unit of its lawn and garden business to U.S. company Sun Gro Horticulture for an undisclosed sum.
Engineering News Archive