BASF sells soil treatment business

BASF has announced that it has reached an agreement to sells it’s global soil treatment business to Kanesho Soil Treatment BVBA, Belgium for 65 million Euros.

BASF and Kanesho Soil Treatment BVBA, Belgium, a subsidiary of Agro-Kanesho Co, Ltd, Japan, have reached a final agreement on the sale of BASF’s global soil treatment business to Kanesho.

The business, with sales of 47 million Euros in 2002, consists of the active ingredients Dazomet, 1,3-Dichloropropene, and Metam-Sodium as well as related business, including sourcing contracts, registration rights, intellectual property rights and customer relations.

BASF will continue to manufacture Dazomet at its Ludwigshafen, Germany, site and supply Dazomet to Kanesho under a long-term agreement.

‘We have consequently reviewed our portfolio and are focusing our resources on the products with higher growth, high margins and strong market synergies,’ said Peter Oakley, a member of BASF’s Board of Executive Directors.

‘We have identified some products with limited synergy for us, which are clearly a better strategic fit for a specialised company, like Agro-Kanesho,’ added Oakley.