Bayer CropScience Completes Purchase of Crompton's Share of Gustafson Seed Treatment Business.Business Editors 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. & MIDDLEBURY, Conn.--(BUSINESS WIRE)--March 31, 2004--Bayer CropScience LP in the U.S. and Bayer CropScience Inc. in Canada today completed the purchase of Crompton Corporation's (NYSE NYSE See: New York Stock Exchange : CK) 50 percent share of the Gustafson seed treatment business 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. , Canada and Mexico (NAFTA NAFTA in full North American Free Trade Agreement Trade pact signed by Canada, the U.S., and Mexico in 1992, which took effect in 1994. Inspired by the success of the European Community in reducing trade barriers among its members, NAFTA created the world's ) for the purchase price of U.S. $124 million in cash. Bayer CropScience, which already held a 50 percent share of the U.S. and Canadian Gustafson joint ventures, now gains full ownership of Gustafson's NAFTA business as a result of the transaction. The purchase agreement that preceded this closing transaction was signed and announced by Bayer CropScience and Crompton on March 22. Forward-Looking Statements This news release contains forward-looking statements based on current assumptions and forecasts made by Bayer Group management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in our public reports filed with the Frankfurt Stock Exchange Frankfurt Stock Exchange The largest of Germany's eight securities exchanges, operated by Deutsche Borse AS. and with the U.S. Securities and Exchange Commission (including our Form 20-F). The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. |
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