Dow Divests European Dithane Business to Indofil
5 March 2012 INDIANAPOLIS, Indiana and MUMBAI, India – Dow AgroSciences said on Monday it sold its European Dithane fungicide business to Indian chemical company Indofil Industries Ltd.
“Dow AgroSciences remains committed to the Dithane business in other parts of the world where we have production assets and are better able to compete over time,” David Hindes, Global Fungicide Business Leader, said in a statement. “This divestment will allow us to focus our European investment on new novel chemistries in the future.”
“This is an exciting time for Indofil Industries in Europe, consolidating Indofil’s position in the European mancozeb market segment and making it a leading player,” K.K. Modi, Group Chairman, K.K. Modi Group, said in a statement.
Indofil, part of India’s K.K. Modi Group, bought the rights and trademarks of Dithane products in Europe, Dithane registrations and accompanying data and existing customer contracts. It also purchased the exclusive rights to use the patented NT technology and related trademarks in Europe.
Financial terms of the deal were not disclosed.
Indofil previously manufactured and distributed Dithane in India for 40 years under Rohm and Haas, prior to Dow’s acquisition of that company in 2001. “Indofil is excited to welcome the Dithane product back in its portfolio, and is committed to growing the Dithane market across Europe, through active collaboration with all partners,” says R.K. Malhotra, CEO, Indofil Industries Limited.
The companies said they are working together “to ensure a seamless transition and minimal impact to customers, distributors, and dealers.”
The announcement follows Dow’s divestment of its global non-mixture mancozeb assets to United Phosphorus in 2010.
Source: Dow AgroSciences; Edited by Managing Editor Jaclyn Sindrich
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