Dow sells portfolio herbicides business Gowan Company

Dow sells portfolio herbicides business to Gowan Company

10:23 AM, 1st December 2015
Dow sells portfolio herbicides business to Gowan Company

CHICAGO, US: Dow Chemical Co said that it has signed a deal to sell a part of its global herbicide business to Gowan Company, as low crop prices continue to drive talk of consolidation in the agriculture industry.

Dow’s sale includes a portfolio of weed killers known as dinitroanilines, global product registrations and trademarks for herbicides including Treflan, which can be sprayed on field corn, cotton and some fruit and vegetables, according to a statement. A formulation and packaging facility in Alberta, Canada, is also part of the deal.

The deal comes a month after Dow said it was reviewing all options for its farm chemicals and seeds unit, which has reported falling sales for nearly a year.

The companies did not disclose terms of the deal. It is expected to close by the end of the year, they said.

The farm sector is struggling to cope with falling crop prices and diminished demand for crop protection products, which have hurt sales in the agricultural businesses at companies including Dow, Monsanto Co and EI du Pont de Nemours & Co.

“Dinitroanilines, or DNA herbicides, have been a part of weed management programs for more than 50 years. The company will invest in innovative and differentiated products,” said Ramiro De La Cruz, VP of crop protection for Dow AgroSciences.

“We are grateful for the opportunity to defend and evolve the DNAs for niches that have long been our sweet spot, such as vegetables and turf,” said Juli Jessen, chief executive, Gowan Group.

Dow rival Monsanto said that it is studying every possibility for consolidation in the seed and agrochemical sectors.

© Reuters News

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