BASF announces agreement to buy portion of worldwide corn herbicide business of Sandoz.RESEARCH TRIANGLE PARK Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. , N.C.--(BUSINESS WIRE)--Sept. 27, 1996--BASF today announced that it has entered into a definitive agreement to buy a portion of the worldwide corn herbicide herbicide (hr`bəsīd'), chemical compound that kills plants or inhibits their normal growth. A herbicide in a particular formulation and application can be described as selective or nonselective. business of Sandoz Ltd. of Basle, Switzerland, for $695 million plus approximately $83 million in net working capital. The purchase includes substantially all rights for agricultural uses of Sandoz's corn herbicides in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada, including the Banvel(R), Clarity(R) and Marksman(R) brands, the Frontier(R) and Guardsman(R) brands worldwide, and Sandoz Agro Inc.'s Beaumont, Texas Beaumont is a city and county seat of Jefferson County, Texas and is within the Beaumont-Port Arthur metropolitan area. As of the 2000 U.S. Census, the city had a population of 113,866. manufacturing facility. The business is expected to generate $320 million is sales in 1996. BASF BASF Bar Association of San Francisco (since 1872; San Francisco, California) BASF Badische Anilin und Soda Fabrik (German chemical products company) BASF Builders Association of South Florida has committed to offer employment to a significant number of employees. The sale is subject to regulatory approval, completion of the merger of Sandoz and Ciba-Geigy into Novartis and other customary conditions. BASF Corp.'s Agricultural Products Group, based in Research Triangle Park, develops a wide range of innovative crop protection products and systems that enable growers to be more cost efficient and increase their crop yield potential. CONTACT: BASF Corp. F.X. Tirrell, 201/426-2842 |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion