Tessenderlo Kerley, Inc. (TKI), a U.S. subsidiary of Tessenderlo Group, and DuPont Crop Protection Thursday 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, blueberry, 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 opportunities 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 Timothy P. Glenn, president, DuPont Crop Protection. “This continues to enhance our focus on innovative new product offerings for our customers.”
With headquarters in Phoenix, AZ, 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.