The Dow Chemical Company and the Rohm and Haas Company have announced they have reached an agreement for Dow AgroSciences LLC to purchase Rohm and Haas's Agricultural chemicals business for about $1 billion. Dow AgroSciences LLC is a wholly owned subsidiary of Dow.
The chemicals business will include Rohm and Haas's fungicide lines, insecticides, herbicides, other product lines, trademarks and license to all agricultural uses to its biotechnology assets. The companies expect to close the transaction by the second quarter of 2001, which is subject to regulatory approvals.
The sale will result in the transfer of ownership of parts of Rohm and Haas's manufacturing sites in Jacarei, Brazil; Barranquilla, Colombia; Lauterbourg, France, and Mozzanica, Italy. The company will transfer all of the Nantong, China plant as well as assets in Muscatine, IA. The Philadelphia, PA, plant's agricultural chemicals operations will become a toll manufacturing site for Dow AgroSciences.
In a recent news release, Raj Gupta, Rohm and Haas chairman and CEO, said the agricultural chemical business will achieve more success "as part of a global firm with a stronger presence serving the agricultural markets."