Arysta LifeScience and Bayer CropScience Continue Successful Cooperation
Tokyo, Japan / Monheim, Germany – April 27, 2005 – Arysta
LifeScience and Bayer CropScience today announced a package of
agreements that represent a further expansion of their successful
cooperation.
As part of the agreement, Arysta LifeScience will acquire amitraz, a
broad spectrum acaricide and selective insecticide sold under the
tradename Mitac®
from Bayer CropScience for global distribution. Arysta LifeScience also
will be granted an exclusive license for marketing fluoxastrobin, a
Bayer CropScience fungicide, for crop uses in the U.S., Canada and
Japan as well as an exclusive license for marketing the compound
globally for non-crop uses such as on turf and ornamentals. Bayer
CropScience will supply Arysta LifeScience with fluoxastrobin for sale
in these markets as well as with tebuconazole for in-can mixtures with
fluoxastrobin in the U.S. As per the agreement, Arysta LifeScience also
will be granted a co-exclusive license to co-market deltamethrin, a
pyrethroid insecticide, in the U.S. crop protection market.
“These agreements are an important step in building the Arysta
LifeScience global product portfolio,” said Chris Richards, president
and CEO of Arysta LifeScience. “These products will enhance our
portfolio in specialty crops – including fruits, vegetables and vines –
especially in North America and Japan, and worldwide in the turf and
ornamental sector. Amitraz has global applications and we have the
marketing organization that can augment the product’s availability to
customers. We are an ambitious company with aggressive growth targets
and these agreements represent further progress in strengthening our
global position in crop protection.”
“We are pleased to expand our successful cooperation with Arysta
LifeScience by way of this agreement. This alliance helps us to
streamline our product range and enhance the commercial value of our
portfolio,” said Dr. Rüdiger Scheitza, Member of the Board of Bayer
CropScience.
Financial terms of the transaction were not disclosed.
Bayer CropScience, a subsidiary of Bayer AG with annual sales of
about EUR 6 billion, is one of the world’s leading innovative crop
science companies in the areas of crop protection, non-agricultural
pest control, seeds and plant biotechnology. 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 about 19,000 and is represented
in more than 120 countries. Further information is available at: www.bayercropscience.com
Headquartered in Tokyo, Japan, Arysta LifeScience is an entrepreneurial
provider of crop protection and life science products in 60 countries
worldwide. The company’s focus in crop protection is specialty crops,
including fruits and vines, and niche and emerging markets. The company
is growing by building a world class business in the development,
marketing and distribution of respected crop protection brands and an
intimate understanding of the needs of global producers. For further
information about Arysta LifeScience Corporation, see:
April 27, 2005
Your Contacts:
Donna Uchida, Arysta LifeScience
Forward-Looking Statements
Steffen Kurzawa, Bayer CropScience AG (Germany)
Tel.: +49 2173 38 – 3504
E-Mail: steffen.kurzawa@bayercropscience.com
+1 415-536-3465 / +1 415-602-2495
duchida@arvesta.com
This news release contains
forward-looking statements based on current assumptions and forecasts
made by Bayer CropScience AG management. Various known and unknown
risks, uncertainties and other factors could lead to material
differences between the actual future consolidated results, financial
situation, development or performance of the Bayer CropScience AG or
our parent company, Bayer AG, and the estimates given here. These
factors include those discussed in Bayer AG's public reports filed with
the Frankfurt Stock Exchange and with the U.S. Securities and Exchange
Commission (including Bayer AG's Form 20-F). Neither Bayer AG nor Bayer
CropScience AG assumes any liability whatsoever to update these
forward-looking statements or to conform them to future events or
developments. www.arystalifescience.com