Closing of the transaction is expected in the fourth quarter of 2014, subject to customary regulatory approvals. This acquisition will enable Bayer’s Environmental Science business unit to offer a comprehensive portfolio of products for effective weed control for Industrial Vegetation Management (IVM). Furthermore the company will gain access to the growing Forestry and Range & Pasture business segments in North America. Under the agreement, DuPont will continue to sell its land management products outside the United States, Canada, Mexico, Australia and New Zealand, and its range and pasture products in Mexico and Latin America.
“We are a leader in the professional Environmental Science market globally and the planned acquisition underlines our ambition to further grow this position in the years to come,” said Bayer CropScience CEO Liam Condon in the company’s press release. “It allows us to provide our customers with first-choice solutions to protect and care for the environment in which we live, work and play. Keeping our railways, railroads and infrastructure clean and safe and forestry plantations more productive is part of our mission – Bayer: Science for A Better Life.”
DuPont Crop Protection President Rik Miller added: “This agreement is another step in the execution of our DuPont Crop Protection business growth strategy. We continue to focus on delivering our science and innovative new offerings to the market, that drive profitable growth both today and over the long term.”
Bayer CropScience provides risk management solutions to professionals who are responsible for reducing risks posed by uncontrolled vegetation in industrial, forestry and natural areas. Risks include for example reduced access and visibility along transportation corridors, transmission line hazards, wildfires, reduced lifespans of infrastructure like road surfaces and railways as well as decreased productivity of forestry plantations.