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TESSENDERLO KERLEY ACQUIRES SEVIN BRAND FROM BAYER CROPSCIENCE
Feb. 1, 2012
Source: Tessenderlo Kerley news release
Tessenderlo Kerley, Inc. (TKI) - a U.S. subsidiary of Tessenderlo Group - announced today the purchase of the crop protection assets of the global carbaryl business from Bayer CropScience, which will retain the non-crop business.
Financial terms of the agreement were not disclosed.
Carbaryl is marketed under the Sevin® brand, as well as other associated trademarks in 40 countries. TKI will acquire global crop protection assets, including trade names, know-how, registrations and registration data.
Jordan Burns, CEO of TKI, stated, "TKI is committed to expanding its crop protection portfolio. We intend to continue building our NovaSource® Crop Protection group with the addition of strategic products as they become available."
Responsibility for the carbaryl product will be undertaken by TKI's business unit, NovaSource (www.novasource.com). NovaSource Group Vice President David Cassidy stated, "The acquisition of the carbaryl insecticide franchise is another step in the planned expansion of the company's niche crop protection product portfolio, following the acquisition of the terbacil and linuron businesses from DuPont, the Surround® business from BASF and the Purshade® business from Purfresh."
Tessenderlo Kerley, Inc., headquartered in Phoenix, Arizona, produces and markets specialty chemical solutions, including fertilizers, crop protection chemicals, and process chemicals and services to diverse markets around the globe. TKI operates 10 manufacturing plants in North America, in addition to an extensive terminal network (www.tkinet.com). TKI is a subsidiary of the Tessenderlo Group, Brussels, Belgium.
Tessenderlo Group is a worldwide specialty company, focused on food, agriculture, water management and on valorizing bio-residuals. The group employs over 7,000 people and is a leader in most of its markets, with consolidated revenue of 2.4 billion EUR in 2010. Tessenderlo Chemie NV is listed on Eurolist by Euronext Brussels and is part of Next 150 and BEL Mid indices.
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