DuPont to Sell Copper Fungicide Business Assets to Mitsui
WILMINGTON, Del., Aug. 20, 2014 – DuPont Crop Protection (DuPont) today announced an agreement with Mitsui & Co., Ltd. (Mitsui) for DuPont to sell its global Kocide® and ManKocide® copper fungicide business assets to Mitsui. The sale is expected to close in the fourth quarter 2014, subject to approvals from applicable regulatory authorities. Financial terms of the agreement were not disclosed.
As part of the transaction Mitsui will acquire DuPont Crop Protection’s global copper fungicide trademarks (including the DuPont™ Kocide® and ManKocide® brands); product registrations; registration data; manufacturing know-how (including process patents); certain third-party contracts; and DuPont’s Houston, Texas copper fungicide production facility.
“This agreement is another step in the execution of our DuPont Crop Protection business growth strategy,” said Rik Miller, president, DuPont Crop Protection. “The agreement further enhances our focus on innovative new offerings that drive profitable growth both today and over the long term.”
Under the agreement, DuPont will continue to sell Kocide® and ManKocide® branded products within Asia Pacific exclusively for a period of up to five years under a supply and distribution agreement, and also will continue to supply DuPont’s current copper fungicide mixture partner needs globally.
Kocide® copper fungicides remain important fungal and bacterial disease management tools and are registered for use in more than 75 countries globally and in all major regions of the world. The most important crops for copper fungicides are grapes, citrus, olives, vegetables and fruits.
DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit www.dupont.com.
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