ARYSTA LIFESCIENCE SOUTH AFRICA SIGNS DEFINITIVE AGREEMENTS TO ACQUIRE TSUNAMI
Complementary Portfolios and Strengths Will Benefit Both Companies
Durban, South Africa (31 January 2010) - Arysta LifeScience South Africa today announced it has signed definitive agreements to acquire selected assets of Tsunami Plant Protection and the business and selected assets of Tsunami Crop Care. The Tsunami companies are subsidiaries of AFGRI Operations Ltd., a wholly owned subsidiary of AFGRI Ltd. The companies expect to close on the main transaction following review and approval from The Republic of South Africa (RSA) Competition Commission and the satisfaction of other closing conditions.
“We are excited about this potential transaction,” said John Barnes, Business Unit Head of Africa Middle East, Arysta LifeScience. “We believe the combined businesses will better serve our customers by expanding our product portfolio and the geographic reach of our footprint, growing the technical capability of the two firms, and strengthening our supplier relationships. Ultimately this will help us serve the broader African market better.”
Tsunami is a medium sized agrochemical business in the Republic of South Africa, with a broad product portfolio and development pipeline. It has established a fair market position in key maize and fruit growing areas by cultivating close customer relationships and building a highly competitive product portfolio.
Arysta LifeScience also has established itself as an agricultural leader in Southern Africa. The company has demonstrated expertise in water-dispersible granule (WDG) formulation, which offers environmental, health and safety benefits to growers. Arysta LifeScience also is active in public health in Africa, including mosquito control to help prevent malaria.
“Organizationally, this transaction provides us significant growth opportunities,” said Pieter Smit, Managing Director, Tsunami. “Each team has its strengths and, together, those strengths will bring enhanced customer benefits.”
Until RSA Competition Commission approval and closing conditions are satisfied, Arysta LifeScience South Africa and Tsunami will remain independent and will continue to operate as marketplace competitors.
Tsunami was founded in 2004 as a local manufacturer, importer and distributor of crop protection products in Southern Africa. The extended and unique range of products combined with the cost-efficient distribution network, made Tsunami one of the leaders in the Agri-chemical business in South Africa. The headquarters of the company are located between Nigel and Heidelberg, Gauteng, South Africa. More information on the company is available at www.tsunami.co.za.
About Arysta LifeScience Corporation
Headquartered in Tokyo, Japan, Arysta LifeScience is the world’s largest privately held crop protection and life science company with 2008 revenues of JPY134 billion (US$1.3 billion). An entrepreneurial provider of crop protection and life science products in more than 125 countries worldwide, Arysta LifeScience specializes in marketing and distribution of respected crop protection brands and life science products in harmony with the needs of global partners. More information on the company is available at: www.arystalifescience.com.
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Arysta LifeScience North America LLC