Cotton Farming

Indianapolis, IN and Philadelphia, PA - The Dow Chemical Company and Rohm and Haas Company announced today that they have completed the sale of Rohm and Haas Company's' agricultural business to Dow Chemical for approximately $1 billion, including working capital. The acquisition will be integrated into Dow AgroSciences LLC, a wholly owned subsidiary of Dow.

Under terms of the agreement, Dow AgroSciences acquired Rohm and Haas's Agricultural Chemicals business, including fungicides, insecticides, herbicides, other product lines, trademarks, and license to all agricultural uses of the Rohm and Haas biotechnology assets. With this acquisition, Dow AgroSciences' annual sales are expected to grow to approximately $3 billion annually.

"We are very pleased with this acquisition, which is consistent with our overall growth strategy of adding value through mergers, acquisitions, alliances and our own R&D efforts," said A. Charles Fischer, President and CEO of Dow AgroSciences. "The new product lines we’ve acquired complement and enhance our portfolio and increase our global scale and reach, allowing us to better serve our customers."

"The agricultural chemicals business has a long and proud history with Rohm and Haas and has contributed substantially to our company," said Raj Gupta, Rohm and Haas Company's Chairman and CEO. "However, as we re-shape our portfolio and continually focus on profitable growth, it is clear our ag chemicals business and employees will flourish more as part of a global firm with a stronger market presence. Dow AgroSciences is a leader in the crop protection industry, and can ensure the vitality of the business in the marketplace"

Products acquired through this acquisition include the fungicide Dithane*, the herbicide Goal* and the MAC family of insecticides, including Confirm*, Mimic* and Intrepid*.

As part of the agreement, Dow will also acquire the agricultural business components of Rohm and Haas's manufacturing sites in Jacarei, Brazil; Barranquilla, Colombia; Lauterbourg, France, and Mozzanica, Italy; the Rohm and Haas share of the Nantong, China joint venture, as well as assets owned by Rohm and Haas in Muscatine, Iowa. The Philadelphia, PA. plant's Agricultural Chemicals operations will become a toll manufacturing site for Dow AgroSciences, and Dow Agrosciences will own the plant assets associated with the manufacture of agricultural products at that site.

Dow is a leading science and technology company that provides innovative chemical, plastic and agricultural products and services to many essential consumer markets. With annual sales of $30 billion, Dow serves customers in more than 170 countries and a wide range of markets that are vital to human progress, including food, transportation, health and medicine, personal and home care, and building and construction, among others. Committed to the principles of Sustainable Development, Dow and its approximately 50,000 employees seek to balance economic, environmental and social responsibilities. For further information, visit Dow’s website at http://www.dow.com.

Dow Closes on Acquisition of Rohm and Haas Company's Ag Chemicals Business
Indianapolis, IN and Philadelphia, PA - The Dow Chemical Company and Rohm and Haas Company announced today that they have completed the sale of Rohm and Haas Company's' agricultural business to Dow Chemical for approximately $1 billion, including working capital. The acquisition will be integrated into Dow AgroSciences LLC, a wholly owned subsidiary of Dow. Under terms of the agreement, Dow AgroSciences acquired Rohm and Haas's Agricultural Chemicals business, including fungicides, insecticides, herbicides, other product lines, trademarks, and license to all agricultural uses of the Rohm and Haas biotechnology assets. With this acquisition, Dow AgroSciences' annual sales are expected to grow to approximately $3 billion annually. "We are very pleased with this acquisition, which is consistent with our overall growth strategy of adding value through mergers, acquisitions, alliances and our own R&D efforts," said A. Charles Fischer, President and CEO of Dow AgroSciences. "The new product lines we’ve acquired complement and enhance our portfolio and increase our global scale and reach, allowing us to better serve our customers." "The agricultural chemicals business has a long and proud history with Rohm and Haas and has contributed substantially to our company," said Raj Gupta, Rohm and Haas Company's Chairman and CEO. "However, as we re-shape our portfolio and continually focus on profitable growth, it is clear our ag chemicals business and employees will flourish more as part of a global firm with a stronger market presence. Dow AgroSciences is a leader in the crop protection industry, and can ensure the vitality of the business in the marketplace" Products acquired through this acquisition include the fungicide Dithane, the herbicide Goal and the MAC family of insecticides, including Confirm, Mimic and Intrepid*. As part of the agreement, Dow will also acquire the agricultural business components of Rohm and Haas's manufacturing sites in Jacarei, Brazil; Barranquilla, Colombia; Lauterbourg, France, and Mozzanica, Italy; the Rohm and Haas share of the Nantong, China joint venture, as well as assets owned by Rohm and Haas in Muscatine, Iowa. The Philadelphia, PA. plant's Agricultural Chemicals operations will become a toll manufacturing site for Dow AgroSciences, and Dow Agrosciences will own the plant assets associated with the manufacture of agricultural products at that site. Dow is a leading science and technology company that provides innovative chemical, plastic and agricultural products and services to many essential consumer markets. With annual sales of $30 billion, Dow serves customers in more than 170 countries and a wide range of markets that are vital to human progress, including food, transportation, health and medicine, personal and home care, and building and construction, among others. Committed to the principles of Sustainable Development, Dow and its approximately 50,000 employees seek to balance economic, environmental and social responsibilities. For further information, visit Dow’s website at http://www.dow.com.
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