Arysta LifeScience Announces Acquisition of Proponit®
Company Expands Portfolio with Selective Herbicide from Nitrokémia
Arysta LifeScience Corporation today announced a significant addition to its growing herbicide portfolio with its acquisition of Proponit®, a selective herbicide, from Nitrokémia 2000 Rt. of Hungary. Financial terms of the transaction were not disclosed.
The transaction, effective June 16, 2006, was completed by Arysta LifeScience SAS, which operates Arysta’s businesses in Europe, Africa and the Middle East. The purchased assets include the trademark Proponit®, its worldwide registrations, an extensive data package as well as manufacturing rights and expertise.
“The acquisition of Proponit® will help expand Arysta LifeScience’s business in Central and Southern Europe, a region where Arysta has extensive distribution capabilities,” said Eric Barbedette, president and CEO of Arysta LifeScience SAS. “This herbicide helps us broaden our maize offering beyond the major insecticides the company has available.”
“Proponit® offers us an exciting opportunity to develop a specialty product in this region as well as strengthen the Arysta LifeScience global portfolio,” added Chris Richards, president and CEO of Arysta LifeScience Corporation. “We are an ambitious company with aggressive growth targets and this acquisition represents further progress in strengthening our global position in crop protection.”
Proponit® (propisochlor) is a chloracetanilide herbicide discovered by Nitrokémia. It is used to control grasses and several broadleaf weeds on crops such as maize, sunflower, potato, oilseed rape, peas and sugar beet.
On maize, Proponit® is used in pre- and early post-emergence and offers flexible time of application, high efficiency against major weeds, excellent selectivity without the need for a safener and good compatibility in tank mixtures.
Proponit® is currently registered in Hungary, Bulgaria, Croatia, Poland, Armenia, Romania, Slovakia, and other countries in Asia and South America.
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