Isagro S.p.A. and Chemtura AgroSolutions™, a business unit of Chemtura Corporation finalizes a joint venture creating a strategic alliance on Jan 26, 2011. The alliance focuses on discovering new active ingredients. A new company named ISEM S.r.l. will be established, having equity value of € 40 million and equally owned by Isagro and Chemtura. Isagro will use the proceeds from the transaction mainly to strengthen its financial position. Giorgio Basile, Isagro President and CEO, stated: "This alliance is consistent with our strategy to focus on our core business, which is based on our historical competences in researching and developing new molecules and promoting them in the marketplace on a global basis. To this end, Chemtura is an ideal partner because of its deep culture and long experience in developing and marketing agrochemical specialties, as well as for the important synergies between the two companies."
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