BASF's agricultural soil fumigant business sold to Kanesho Soil Treatment

18-Dec-2003

Effective December 17, 2003 BASF Aktiengesellschaft, Ludwigshafen, Germany, sold its global soil treatment business to Kanesho Soil Treatment BVBA/SPRL, Brussels, Belgium, a subsidiary of Agro-Kanesho Co., Ltd., Japan. As announced already on October 31, 2003, the business consists of the active ingredients Dazomet, 1,3-Dichloropropene, and Metam-Sodium as well as related contracts, including sourcing contracts, registration rights, intellectual property rights and customer relations. BASF will continue to manufacture Dazomet at its Ludwigshafen, Germany, site and supply Dazomet to Kanesho under a long-term agreement.

The divestiture is part of BASF's continuing efforts to concentrate its Agricultural Products' portfolio on the products with stronger growth, attractive margins and high level of market synergies.

Agro-Kanesho will, based on this acquisition, develop its soil treatment business on a global basis and sees potential future growth opportunity in this business.

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