Isagro S.p.A. and Chemtura AgroSolutions, a business unit of Chemtura Corporation, finalized a joint venture creating a strategic alliance.
This alliance is based on the following main points:
- equal sharing of the investments in innovative research focused on discovering new active ingredients;
- establishment of a new company, named ISEM S.r.l., having an equity value of EUR 40 million and equally owned (50:50) by Isagro and Chemtura. To this end, Isagro has contributed to ISEM the ongoing branch of activity (assets, liabilities, commercial payables and receivables, customers portfolio, personnel and contracts) composed of the commercially registered herbicide Orthosulfamuron and fungicide Valifenalate, as well as the intellectual property related to two new active ingredients, poised for development and commercialization.