AgrEvo India was the agrochemicals division under Hoechst India till 1994. As a part of restructuring, Hoechst and Schering, both of Germany, combined and transferred their agrochemical business to a new company -- Hoechst Schering AgrEvo (HSAL). With this, the agrochemcial business of Hoechst India also got transferred to the new company. The 50.09% subsidiary of Hoechst Schering AgrEvo is one of the leading players in the agrochemicals sector.
The company under went a name change to Aventis CropScience (India) due to worldwide merger of agriculture business of Rhone Poulenc and AgrEvo. Rhone Poulenc Agrochemicals (India) and Aventis CropScience (India) operate as separate companies in the country and have entered into a strategic alliance to take advantage of the production and marketing synergies. The combined market share of 14% makes them the largest player in the agrochemical business in the country.
In Dec.'95, Pyrapure Chemicals, a 100% subsidiary, was amalgamated with the company. As a part of global restructuring, the company took over from Roussel India, the responsibility of developing and co-ordinating the entire range of environmental health products of Roussel Uclaf, France. Presently, Hoechst Schering AgrEvo, Germany, has a 50.09% stake in the company.
It manufactures agrochemicals and agrochemical formulations and its manufacturing unit is located at Ankleshwar, Gujarat. The company has consolidated its position in the business of environmental health products with the introduction of 'Hexit' and aerosol range of 'Hexit'.
The company has numerous generic brands in the pesticides and environmental health products segment. The country's food requirements far outstrips the availability of arable land. Growth rates of around 10-15% for agrochemicals, witnessed in India, is much higher than the world average of around 3-5%.
In 2000-01 Aventis CropScience Pvt Ltd was amalgamated with the company with the approval from shareholders and the company has allotted 4753600 equity shares of Rs.10/- each to the shareholders of Aventis CropScience Pvt Ltd. The company has executed the order which it had received from World Bank for supply of K-Othrine 2.5% WP of 169 MT.The new products which were introduced in 2001 in the market was Quintal,Whip Super,Stallion. A new herbicide,Benfruesata,was successfully manufactured on a pilot scale during 2001.
Consequent to the global acquisition by Bayer AG,the name of Aventis CropScience(India) Ltd,has been changed to Bayer Cropscience India Ltd during 2002. Further the company was amalgamated with Bayer India Ltd(BIL) as part of consolidating agro business to one entity in India. This amalgamation creates one of the largest Agrochemicals company in India Covering a wider span of crop protection activites. The swap ration is fixed at 5 equity share of BIL for 3 equity shares of the company. Before the amalgamation with BIL the company has divested of assets of products containing Phosalone as active ingredents to Cheminova India Ltd.