08 January 2013 13:22 [Source: ICIS news]
LONDON (ICIS)--Bayer CropScience, a subgroup of Germany-based chemicals major Bayer, has signed an agreement to acquire microbial crop protection products supplier Prophyta, the company said on Tuesday.
Financial details of the deal, expected to close within a few weeks, were not disclosed.
Prophyta, which employs a total staff of approximately 30 full-time employees, is headquartered in Malchow on the island of Poel in Mecklenburg-Vorpommern, Germany.
The acquisition also includes the company´s research and development laboratories and its production and formulation facilities in Wismar, also in Germany.
Bayer CropScience said the acquisition will help the company build a leading offer of integrated crop solutions based on high-value seeds, innovative crop protection solutions and customised services.
“This acquisition not only further strengthens our successful fruits and vegetables business … Prophyta´s patented solid-state fermentation technology and strong expertise in the formulation of live fungal spores will also help us bringing new, innovative solutions to market,” said Rudiger Scheitza, member of the board of management of Bayer CropScience and head of strategy and business management.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections