FMC, BASF announce supply agreements

From a press release we received this afternoon:

FMC Corporation (NYSE: FMC) and BASF announce several new multi- year supply agreements that will allow both companies to expand their crop protection portfolios in several key crop segments.

The agreements will grant BASF access within the U.S. to a proprietary insecticidal chemistry owned by FMC -- zeta-cypermethrin. FMC will gain access within the U.S. to two active ingredients owned by BASF, pendimethalin and imazethapyr.

BASF will begin marketing new Respect(TM) insecticide in 2007 -- based on zeta-cypermethrin -- for control of several economically significant insect pests in a range of crops, including vegetables, corn, soybeans, cotton, wheat, and alfalfa.

"This agreement allows us to expand our portfolio of crop protection tools that help growers boost the yields and quality of their crops," says Andy Lee, Director of U.S. Crop Operations with BASF. "Respect insecticide will be a strong fit with our current portfolio because it can be used as a stand-alone crop protection treatment or in tank-mix combination with other products."

Lee notes that it is part of the BASF growth strategy and just one of the insecticide innovations BASF plans to bring to growers in 2007.

FMC will be developing premix products with pendimethalin and imazethapyr with its own proprietary herbicide portfolio over the next two years for use in soybeans, sunflowers and tobacco. "The premixes we will be developing will provide growers with excellent herbicide solutions to control tough weeds and grasses in those markets," says Aaron Locker, product manager with FMC Corporation.

"The announcement of this joint agreement and the launch of new FMC premixes into the soybean, sunflower and tobacco markets in the future is an important component of the FMC strategy to recognize market needs and respond quickly to bring needed technology to both growers and retailers," according to Locker. "This agreement is consistent with the FMC innovation strategy of being the designer and marketer of novel product solutions by developing premix options to better meet our customers' needs."