BASEL, Switzerland, March 1, 2011 -
o Sale of Materials Protection business to Lanxess
o Exclusive licensing and supply agreements for related active ingredients
Syngenta announced today that it has signed an agreement to divest its Materials Protection business to Lanxess. Under the terms of the agreement, Lanxess will purchase intellectual property, registrations and regulatory data specific to Materials Protection. Syngenta will grant Lanxess access to related active ingredients and technologies through exclusive licensing and supply agreements. Employees and fixed assets are not part of the divestment.
Syngenta's Materials Protection business had sales of around $25 million (euro 19 million) in 2010. The transaction is expected to close in April 2011. Financial details have not been disclosed.
Syngenta is one of the world's leading companies with more than 26,000 employees in over 90 countries dedicated to our purpose: Bringing plant potential to life. Through world-class science, global reach and commitment to our customers we help to increase crop productivity, protect the environment and improve health and quality of life. For more information about us please go to www.syngenta.com.
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