Mumbai, Sept. 4: United Phosphorus Ltd (UPL), the leading agro chemical manufacturer, has acquired the Acifluorfen compound from BASF.
Acifluorfen, a herbicide active ingredient, is used primarily in the US and Brazil. It is sold under the brand names of Ultra Blazer, Storm and Volt. UPL said these brands commanded a good equity among the soyabean and peanut growers. The company, however, did not divulge the consideration involved in this deal.
As per the agreement, all registrations, brands and trademarks will be transferred in the company’s name. UPL can immediately start selling the brands in the US and worldwide from 2004.
The announcement led to the UPL stock flaring in the bourses today. After opening at Rs 363.30, the scrip was up at an intra-day high of Rs 391.90, following which it finished at Rs 378.85, a gain of Rs 19.30 over its previous close.
Executive director of UPL Jai R. Shroff said, “We are excited about the impact of Ultra Blazer, Storm and Acifluorfen-related products on our growing market presence in the US and the opportunity they will afford to establish a stronger global presence in key soyabean and peanut markets in Brazil.”
In June, UPL had bought Oryzalin herbicide business, including Surflan herbicide and all Surflan-based pre-mixes from Dow AgroScience LLC of the US for $21.3 million. The herbicide is used to control annual grasses and broadleaf weeds, herbaceous plants, woody shrubs and vines.
Under the agreement, the company and its subsidiaries can sell Surflan worldwide, except in the countries that are not included in the deal.