AstraZeneca PLC
19 June 2000
Zeneca to Seek Divestment of its Worldwide Acetochlor Business
Zeneca Agrochemicals plans to divest its worldwide acetochlor corn herbicide
business, comprising all straight acetochlor products and all acetochlor and
atrazine mixtures, to address the concerns of the US Federal Trade Commission
(FTC) and the European Commission (EC) in connection with the proposed
formation of Syngenta. As announced on December 2, 1999, Syngenta AG will be
formed from the planned spin-off and merger of Zeneca Agrochemicals, the crop
protection business of AstraZeneca, and Novartis' crop protection and seeds
businesses.
Zeneca Agrochemicals currently has a strong presence with its acetochlor
products in the United States, Latin America, South Africa and Eastern Europe.
The products of the business to be sold are marketed under brand names
including 'SURPASS', 'TOPNOTCH', and 'FULTIME' (primarily in the US), and
TROPHY and RELAY (primarily in the rest of the world).
It is Zeneca's expectation and a requirement of both the FTC and the EC that
the acetochlor business will be sold to another major agricultural chemicals
company with a significant presence in the U.S. and other key international
markets.
Zeneca Agrochemicals is the crop protection and plant science business of
AstraZeneca. It is the fourth largest supplier to this international market,
with sales in 1999 of USD2.7bn in over 130 countries. AstraZeneca (Registered
Office, London) is a leading international pharmaceuticals and bioscience
group with 1999 sales of USD17.8bn.
Further enquiries to :
Elizabeth Sutton : +44(0)20 7304 5101
Ed Seage : +1 302 886 4065
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.