18th June 2008
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Company Announcement
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Nufarm acquires DuPont cotton portfolio
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Nufarm Ltd announced today that it has completed the acquisition of a range of cotton plant growth regulator (PGR) products from DuPont.
The products –marketed as CottonQuik®, First Pick®, Mepex® and Ginout™ - are based on the active ingredients ethephon and mepiquat and are used to modify cotton plants to assist with harvest efficiency and to improve yields.
Nufarm has acquired rights to the products (including patents, trademarks, registrations, manufacturing and formulation know how) on a global basis. Currently, major markets are USA and Brazil, with some sales in Australia. Global annual sales total approximately US$10 million.
Nufarm's Managing Director, Doug Rathbone, said the acquisition of the cotton portfolio will accelerate Nufarm’s entry into the valuable cotton segment in the USA and will boost Nufarm’s existing position in cotton in Brazil.
"Together with existing key Nufarm product positions such as glyphosate and imidacloprid, and a range of cotton products delivered via the recent acquisition of the Etigra business, we now have a viable portfolio offering that will elevate cotton to a primary crop focus in the USA."
Mr Rathbone said the new products have excellent brand recognition and generate very acceptable margins.
"Over time, we will be able to move these products into other cotton growing markets, as we continue to develop our portfolio in this valuable crop segment."
Financial details of the transaction were not disclosed.
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Further information:
Nufarm Limited
Robert Reis
+61 3 9282 1177 |
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