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UPJOHN COMPLETES ASGROW FLORIDA DIVESTITURE

 KALAMAZOO, Mich., Jan. 3 /PRNewswire/ -- The Upjohn Company (NYSE: UPJ) today announced it has completed the divestiture of most of the assets of Asgrow Florida Company (AFC), an Upjohn subsidiary, to Terra Industries, Inc. As disclosed by Terra, the $31 million transaction includes business and certain assets of AFC, a distributor of agricultural materials including chemicals, seed and specialty products. It does not include the agronomic or vegetable seed portions of Asgrow Seed Company, which will continue to sell seed in Florida both through the newly formed Terra Asgrow Florida distributorship and through Asgrow's own sales organization in the state.
 Upjohn expects to realize a gain from the transaction in the year ending Dec. 31, 1993. The sale and the gain net of tax will be reported as a discontinued operation.
 Terra Industries Inc., headquartered in Sioux City, Iowa, is a leading marketer and producer of fertilizer, crop protection products, seed and services for agriculture.
 Asgrow Seed Company is a subsidiary of The Upjohn Company, a worldwide, research-based provider of human health care products, animal health products, agronomic and vegetable seeds and specialty chemicals. Headquartered in Kalamazoo, the company has been dedicated to improving health and nutrition for more than a century.
 -0- 1/3/93
 /CONTACT: Maury Ewalt of The Upjohn Company, 616-385-6658/
 (UPJ)


CO: The Upjohn Company; Asgrow Florida Company; Terra Industries, Inc. ST: Michigan, Florida, Iowa IN: MTC AGR SU:

SM -- DE021 -- 8587 01/03/94 15:27 EST
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Publication:PR Newswire
Date:Jan 3, 1994
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