BASF sells soil treatment business
December 22, 2003
Dow Jones Business News reports that BASF AG sold its global soil treatment business to Kanesho Soil Treatment BVBA/SPRL, Brussels, Belgium, a subsidiary of Agro-Kanesho Co., Ltd., Japan, the company said Wednesday. As announced already on October 31, 2003, the business consists of the active ingredients Dazomet, 1,3-Dichloropropene, and Metam-Sodium as well as related contracts, including sourcing contracts, registration rights, intellectual property rights and customer relations. BASF will continue to manufacture Dazomet at its Ludwigshafen, Germany, site and supply Dazomet to Kanesho under a long-term agreement. The divestiture is part of BASF''s continuing efforts to concentrate its Agricultural Products'' portfolio on the products with stronger growth, attractive margins and high level of market synergies.