MONHEIM, Germany (AFX) - BayerCropScience AG said it expects a negative
impact of about 7 mln usd resulting from the 45 mln usd out-of-court settlement
reached earlier this week with lobster (crawfish) fishermen in the US state of
Louisiana.
The fishermen claim the company's pesticide ICON led to a reduction in the
number of lobsters.
ICON was part of Aventis CropScience, the crop protection business Bayer
purchased from Aventis SA in 2002.
The rest of the 45 mln usd payment is covered by insurance and an agreement
with BayerCropScience and Aventis, under which the French company has to cover
any liabilities, Bayer said.
Bayer said there is no proof that ICON was responsible for the decrease in
lobster numbers.
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