Israel's MA Industries To Buy Herbicide From DuPont
Israel's MA Industries will acquire DuPont Crop Protection's global non-mixture diuron business, the world's biggest maker of generic agrochemicals said on Sunday.
Financial terms of the agreement were not disclosed.
According to the agreement, MA will receive rights, registrations and supporting regulatory data for all of DuPont's non-mixture diuron herbicides, including its industry-leading DuPont Direx and Karmex brands.
The acquisition will expand the company's global product offering and broaden its market reach in North America, Brazil and Asia Pacific, MA said.
Excluding potential synergies, the acquired products are expected to generate additional annual sales of around $35 million to MA in the first year.
"DuPont Karmex and Direx are premium products that have long been preferred by farmers and applicators globally," Yoav Zeif, MA's vice president of global products and marketing, said in a statement. "We have had vast experience in manufacturing and marketing diuron, a key active ingredient which we continue to support and can now bring to more customers through this acquisition."
Diuron is the leading urea herbicide used in agricultural and industrial and vegetation management applications to control a wide variety of annual and perennial broadleaf and grassy weeds. Diuron's major markets include sugarcane, fruit, vegetables and cotton, as well as non-crop sectors.
China National Chemical Corp is in the process of buying a controlling stake in MA Industries, which is 47% held by Israel's Koor Industries. The deal values MA at $2.4 billion.