Jun. 7, 2016
Nutrichem Co., Ltd. ("Nutrichem"), a leading supplier of agrochemicals in China, entered into definitive agreements with Dow AgroSciences LLC, a wholly owned subsidiary of The Dow Chemical Company (NYSE: Dow), under whichNutrichem, will purchase the Dow AgroSciences Tebuthiuron business. The acquisition includes the global registrations, brands, manufacturing information, intellectual property, customer and marketing information relating to the Tebuthiuron herbicides globally.
Dow AgroSciences will be authorized to distribute Spike®, Graslan®, Molopo®, Combine® brands among others, made with Nutrichem Tebuthiuron on an on-going basis. Tebuthiuron is a nonselective substituted urea herbicide used to control annual and perennial grasses and broadleaf weeds as well as woody plants. It is a strong fit for Nutrichem’s existing manufacturing capabilities and expanding product portfolio, while allowing Dow AgroSciences to continue to focus on advanced innovative technologies for global agricultural markets.
The transaction is expected to close by the end of June, 2016. Agreement and financial terms were not disclosed.