Bayer CropScience agrees to sell wheat herbicide to Arvesta Corporation

19-Sep-2002

Monheim, September 18, 2002 - Bayer CropScience has agreed to divest its wheat herbicide Everest® to San Francisco-based Arvesta Corporation, pending approval by the U.S. and Canadian regulatory authorities. Terms of the purchase agreement were not disclosed. The sale of Everest® is part of the requirements to which Bayer CropScience agreed with the U.S. Federal Trade Commission and the Canadian Competition Bureau as a condition of approval for Bayer to acquire Aventis CropScience.

Registered since October 2000, Everest® is a selective post-emergence grass herbicide for early season control of wild oats, green foxtail and other grasses in winter and spring wheat crops. Everest® provides growers with a rotational tool to manage resistance and is currently sold primarily in Canada and the United States.

"The negotiations with Arvesta were concluded in a professional and expeditious manner and I am very pleased with the results" stated Jochen Wulff, Chairman of the Board of Bayer CropScience.

"In the two years since Everest® was introduced to the market by Bayer, it fulfilled our expectations", added Emil Lansu, Head of the NAFTA-region for Bayer CropScience. "The pending purchase by Arvesta will ensure that this innovative herbicide remains available to the Canadian and US growers who have come to value it."

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