PHOENIX and WILMINGTON, Del., Oct. 1, 2015 /PRNewswire/ -- Tessenderlo
Kerley, Inc. (TKI), a U.S. subsidiary of Tessenderlo Group, and
DuPont Crop Protection today announced the sale of certain of
DuPont's global Hexazinone solo product and its
Hexazinone/Diuron-only mixture product business assets to TKI. The
sale excludes assets in Brazil.
Financial terms of the agreement were not disclosed.
The assets to be divested by DuPont include the Velpar®,
Pronone® and Advance® trademarks, formulated product registrations,
formulated product registration data, customer information, supply
agreements with third parties, access to certain know-how, certain
Hexazinone and Diuron technical registrations and associated
registration data, for each product.
Hexazinone is a broad spectrum herbicide used on crops such as
alfalfa, blueberries, pineapples and sugarcane and is marketed
globally under the Velpar®, Pronone® and Advance® brands.
"This acquisition is another step for the NovaSource® crop
protection division of TKI to improve its position in the niche
crop protection industry," said David
Cassidy, group vice president for TKI. "These products
enable NovaSource to add new distribution both in North America and in Asia."
NovaSource is a business unit of TKI that develops and markets
crop protection products for niche agricultural markets
globally.
"This agreement is another step in the execution of our DuPont
Crop Protection business growth strategy," said Tim Glenn, president, DuPont Crop Protection.
"This continues to enhance our focus on innovative new product
offerings for our customers."
With headquarters in Phoenix,
Arizona, TKI produces and markets specialty chemical
solutions, including fertilizers, crop protection chemicals and
process chemicals and services to diverse markets around the world.
TKI operates 11 manufacturing plants in North America in addition to an extensive
terminal network.
Tessenderlo Group is a worldwide specialty company, focused on
food, agriculture, water management and on valorizing
bio-residuals. The group employs about 4,800 people and is a leader
in most of its markets, with a consolidated revenue of 1.4 billion EUR in 2014. Tessenderlo Chemie NV is
listed on NYSE Eurolist by Euronext Brussels and is part of Next
150 and BEL Mid indices. Financial News wires: Bloomberg: TESB BB –
Reuters: TesBt.BR – Datastream: B:Tes
DuPont (NYSE: DD) has been bringing world-class science and
engineering to the global marketplace in the form of innovative
products, materials, and services since 1802. The company believes
that by collaborating with customers, governments, NGOs, and
thought leaders we can help find solutions to such global
challenges as providing enough healthy food for people everywhere,
decreasing dependence on fossil fuels, and protecting life and the
environment. For additional information about DuPont and its
commitment to inclusive innovation, please visit
www.dupont.com.
DuPont Forward-Looking Statements: This news release contains
forward-looking statements which may be identified by their use of
words like "plans," "expects," "will," "believes," "intends,"
"estimates," "anticipates" or other words of similar meaning. All
statements that address expectations or projections about the
future, including statements about the company's growth strategy,
product development, regulatory approval, market position,
anticipated benefits of acquisitions, timing of anticipated
benefits from restructuring actions, outcome of contingencies, such
as litigation and environmental matters, expenditures and financial
results, are forward-looking statements. Forward-looking statements
are not guarantees of future performance and are based on certain
assumptions and expectations of future events which may not be
realized. Forward-looking statements also involve risks and
uncertainties, many of which are beyond the company's control. Some
of the important factors that could cause the company's actual
results to differ materially from those projected in any such
forward-looking statements are: fluctuations in energy and raw
material prices; failure to develop and market new products and
optimally manage product life cycles; significant litigation and
environmental matters; failure to appropriately manage process
safety and product stewardship issues; changes in laws and
regulations or political conditions; global economic and capital
markets conditions, such as inflation, interest and currency
exchange rates; business or supply disruptions; security threats,
such as acts of sabotage, terrorism or war, weather events and
natural disasters; ability to protect and enforce the company's
intellectual property rights; successful integration of acquired
businesses and separation of underperforming or non-strategic
assets or businesses and successful completion of the proposed
spinoff of the Performance Chemicals segment including ability to
fully realize the expected benefits of the proposed spinoff. The
company undertakes no duty to update any forward-looking statements
as a result of future developments or new information.
10/1/15
The DuPont Oval Logo is a registered trademark of DuPont or its
affiliates.
NovaSource® is a registered trademark of Tessenderlo Kerley,
Inc.
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SOURCE Tessenderlo Kerley, Inc.; DuPont Crop Protection