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Mitsui & Co., Ltd. ("Mitsui", Head Office: Chiyoda-ku, Tokyo, President & CEO: Masami Iijima) has reached an agreement with E. I. du Pont de Nemours and Company ("DuPont", Head Office: Delaware, USA) to acquire the global business operations of DuPont's copper fungicide trademark (Kocide®).
Under its wholly owned subsidiary Mitsui AgriScience International USA, Mitsui will establish Certis Cu LLC ("CCU"), and CCU will acquire DuPont's copper fungicide business assets. Specifically, Mitsui, through CCU, will acquire DuPont's global copper fungicide trademarks (Kocide®), as well as product registrations, registration data, manufacturing know-how (including process patents) of the products, certain third-party contracts, and DuPont's Houston, Texas, copper fungicide production facility.
Also, under the agreement, DuPont will continue to sell Kocide® within the Asia Pacific region for a maximum period of five years. In connection with this, Mitsui has agreed to enter into an agreement for the supply and distribution of Kocide® to DuPont in the Asia Pacific region, and for copper fungicide mixtures handled by DuPont.
Globally, copper fungicides remain key fungal and bacterial disease management tools for farmers for multi-crop use, including in Japan. The main active ingredient of Kocide® is cupric hydroxide, also known as copper (II) hydroxide. It is the hydroxide of metal copper with the chemical formula of Cu(OH)2. Among various types of copper fungicides, cupric hydroxide is widely used as a protectant fungicide for disease control in stand-alone and mixture applications with other fungicides. Cupric hydroxide is registered for use in more than 75 countries globally and in all four major regions of the world, namely North America, Europe, Central and South America and Asia. Copper fungicides are widely used for organically-grown fruits and vegetables, particularly for grapes and citrus fruit.
Mitsui is already engaged in manufacturing and sales of cupric hydroxide based agrochemicals at Spiess Urania in Germany. By the acquisition, Mitsui aims to achieve synergies between the operations of CCU and Spiess Urania and further enhance its competitiveness in the global agrochemical market.
|Company Name||Certis Cu LLC|
|Head Office||Columbia, Maryland, USA|
|Business||Manufacture of copper fungicides and global sales business operations|
|Factory||Houston, Texas, USA|
|Shareholder||Wholly-owned by Mitsui & Co., Ltd.|
|Company Name||E.I. du Pont de Nemours and Company|
|Head Office||Wilmington, Delaware, USA|
|Representative||Chair of the Board & Chief Executive Officer: Ellen J. Kullman|
|Business Activities||Seven Business Segments Agriculture; Nutrition & Health; Performance Materials; Performance Chemicals; Safety & Protection; Electronics & Communications; Industrial Biosciences.|
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently possessed by it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements.
This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.