United Phosphorus Ltd. has bought US chemical giant DuPont Co.'s mancozeb fungicide business and related assets, including existing inventory, manufacturing facilities in Barranquilla, Colombia, for an undisclosed amount.
Mancozeb is a broad spectrum contact fungicide effective on a wide range of crops. This purchase will further strengthen UPL's position in the EBDC (Ethylenebisdithiocarbamates) segment. Under this agreement, UPL and its subsidiaries throughout the world can start selling Manzate and its formulations with immediate effect.
The acquisition provides the company an opportunity to strengthen its fungicide business across emerging markets like South and Central America, the company said in the statement. UPL's revenue for the year ended March 2010 was about $1.14 billion.