Business & Finance
Business and Finance
Business and Finance
Thu, March 10, 2011
Wed, March 9, 2011 Bayer CropScience to Distribute Chemtura AgroSolutions Seed Treatment Products in China
PHILADELPHIA--([ BUSINESS WIRE ])--Chemtura Corporation (NYSE: CHMT) today announced that Bayer CropScience will be the exclusive distributor of Chemtura AgroSolutions seed treatment products in China and will incorporate the marketing of these products into the Bayer CropScience seed treatment product range. With the predicted rapid growth of the seed treatment market in China, this agreement is an opportunity for both parties to combine their product portfolios to create a critical mass that will result in the development of tailor-made solutions for seed companies.
Bayer CropScience has been granted the right to import, sell, and commercialize the Chemtura seed treatment range, as well as to exclusively access and use the productsa™ registrations and trademarks in China. In addition, the parties agreed to seek further opportunities to broaden the scope of the agreement to include product formulation and new product development.
This agreement is in line with the Bayer CropScience growth strategy in seed treatment. For Chemtura, this agreement will enable them to participate in the rapid growth of the seed treatment market in China, concurrent with the companya™s strategy of strengthening its position in the seed enhancement market. Financial terms were not disclosed.
About Bayer CropScience
Bayer is a global enterprise with core competencies in the fields of health care, nutrition and high-tech materials. Bayer CropScience, a subgroup of Bayer AG with annual sales of EUR 6.830 billion (2010), is one of the worlda™s leading innovative crop science companies in the areas of crop protection, non-agricultural pest control, seeds and traits. The company offers an outstanding range of products and extensive service backup for modern, sustainable agriculture and for non-agricultural applications. Bayer CropScience has a global workforce of 20,700 and is represented in more than 120 countries. This and further news is available at: [ www.press.bayercropscience.com ].
About Chemtura AgroSolutions
Chemtura AgroSolutions is focused on delivering solutions to help maximize profit potential to our customers through sales of quality plant health and pest control products that are backed by proven field expertise and service, as well as a commitment to expanding its portfolio of customer solutions. For more information about Chemtura AgroSolutions, visit [ www.ChemturaAgroSolutions.com ].
About Chemtura Corporation
Chemtura Corporation, with 2010 sales of $2.8 billion, is a global manufacturer and marketer of specialty chemicals, agrochemicals and pool, spa and home care products. Additional information concerning Chemtura is available at [ www.chemtura.com ].
Find more information at [ www.bayercropscience.com ].
Forward-Looking Statements
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer Group or subgroup management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayera™s public reports which are available on the Bayer website at [ www.bayer.com ]. The company assumes no liability whatsoever to update these forward-looking statements or to confirmthem to future events or developments.
© 2011 Chemtura Corporation. All rights reserved. Chemtura AgroSolutions and the logo are the property of Chemtura Corporation.
