Monheim, March 27, 2009 – Bayer CropScience announced today that it acquired certain assets and technology related to biological development products of Agrogreen, Ashdod, Israel. AgroGreen, a business unit of the Minrav Group, is one of the leading companies in the bionematicides business. Through this acquisition Bayer CropScience expands its broad range of crop protection solutions with biocontrol agents which offer further value added for is customers and provide the company with interesting growth opportunities in the seed treatment market. The company also sees good prospects for use of these biocontrol agents by turfgrass professionals. Financial terms were not disclosed.
Dr. Rüdiger Scheitza, Member of the Board of Management of Bayer CropScience AG and responsible for Portfolio Management, comments: “Bayer CropScience is very well positioned in its core crop protection business. With this acquisition, we further strengthen our portfolio with innovative and unique crop protection solutions to help safeguard harvests and increase yields.” Mr Avraham Kuznitski, Chairman of the Minrav Group, stated: “It is exciting to see this biological technology and the products developed by Minrav being acquired by Bayer CropScience. We are convinced that our technology will be an excellent fit with the Bayer CropScience´s portfolio.”
The acquired assets include products marketed under the brand name BioNem (active ingredient Bacillus firmus), reducing nematode populations and root infestations in the soil, while stimulating increased yields.
BioNem is currently registered in Israel for use in cucumbers, eggplant, pepper, tomato, almond, apricot, olive, peach, plum, pomegranate, major herbs, flowers and garlic. Based on this Bacillus Firmus as a mixing partner, Bayer CropScience plans to develop new seed treatment solutions for important agricultural crops such as corn, soybean and cotton as well as soil applied applications for use on fruits and vegetables.