Dow to Acquire Rohm and Haas Company’s Ag Chemicals Business

12-Mar-2001

Indianapolis, IN and Philadelphia, PA, March 8, 2001: The Dow Chemical Company and Rohm and Haas Company announced today they have reached agreement for Dow AgroSciences LLC, a wholly owned subsidiary of Dow, to purchase Rohm and Haas’s Agricultural chemicals business, including working capital, for approximately US $1 billion. Under terms of the agreement, Dow AgroSciences will acquire Rohm and Haas’s Agricultural Chemicals business, including its well-recognized fungicide lines, insecticides, herbicides, other product lines, trademarks, and license to all agricultural uses of its biotechnology assets. The transaction is expected to close in second quarter 2001, subject to regulatory approvals. According to A. Charles Fischer, President and CEO of Dow AgroSciences, "We are delighted with the proposed acquisition of the Rohm and Haas agricultural business, which includes its prominent fungicide lines, insecticides, and herbicides. These product lines complement and enhance Dow AgroSciences’ portfolio by adding high-performance, brand name products for specialty crops as well as turf and ornamental businesses around the world. In addition, this transaction will further boost our global scale and reach, allowing us to better serve our customers in these key high value businesses." "The decision to sell our Agricultural Chemicals business was a difficult one, especially considering the long history with our company," said Raj Gupta, Rohm and Haas Company’s Chairman and CEO. "The business has a premier reputation in the market and has contributed substantially to the success of the company for some 70 years. However, as we continue to reshape our portfolio for the future, it has become increasingly evident that the Agricultural Chemicals business will flourish more as part of a global firm with a stronger presence serving the agricultural markets. Dow AgroSciences is among the world leaders in the crop protection business. They have the experience, the know-how, and the resources to ensure the continued vitality of this business as part of its presence in the marketplace." The sale will result in the transfer of ownership of parts of Rohm and Haas’ manufacturing sites in Jacarei, Brazil; Barranquilla, Colombia; Lauterbourg, France, and Mozzanica, Italy; all of the Nantong, China plant will transfer, as well as assets owned by Rohm and Haas in Muscatine, Iowa. The Philadelphia, PA, plant’s Agricultural Chemicals operations will become a toll manufacturing site for Dow AgroSciences.

https://www.chemeurope.com/en/news/1776/dow-to-acquire-rohm-and-haas-companys-ag-chemicals-business.html