Dow buys rivals agrichem business
By FWi staff
US giant Dow Chemical has bought its smaller stateside rival Rohm and Haass agricultural business for about $1 billion.
The acquisition will be integrated into Dow Agrosciences, and includes fungicides, insecticides, herbicides, as well as trademarks and license to use Rohm and Haass biotechnology assets.
Manufacturing sites in Brazil, France and Italy, as well as Chinese joint venture shares and assets in North America, are also included in the deal.
Dow Agrosciences worldwide sales are expected to grow by 30% to $3bn a year as a result.
The move marks the end of 70 years for Rohm and Haas in the sector, but annual sales of $0.5bn left its agrochemical business well behind the market leaders.
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