UPL buys DuPont’s fungicide business

The acquisition includes existing inventory,manufacturing and production facilities in US.

Agrochemical firm United Phosphorus said it has bought the fungicide business of US-based chemical firm DuPont.

United Phosphorus Ltd (UPL) has purchased the global non-mixture mancozeb fungicide business and related assets from DuPont,the company said in a filing to the Bombay Stock Exchange.

The acquisition also includes existing inventory,manufacturing and formulation production facilities in the US.

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However,the company did not disclose the financial details of the transaction.

The deal gives UPL the rights to register brands for non-mixture mancozeb products,trademarks,registration and supporting regulatory data for those products,the filing added.

The deal would help UPL and its subsidiaries to sell Manzate (fungicide) and its formulations immediately,it said.

This acquisition would also help UPL to strengthen its fungicides business in South and Central American markets.

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UPL engaged in research,manufacturing,selling and distribution of chemicals across the globe. The company’s revenue for the year ended March 2010 stood at USD 1,142 million,it said.

Shares of United Phosphorus were trading at Rs 182.50 on the BSE,up 1.78 per cent from previous close.