The Company has informed that in line with the global decision of BASF AG to divest Phorate business worldwide, the Board of Directors of the Company have approved the transfer of Phorate activity, carried on by the Agricultural Products business of the Company, to AMVAC Chemical Corporation, USA, effective October 31, 2005. The value of the Phorate Assets to be transferred by the Company to AMVAC would be approx Rs 44.48 million.Phorate (trade mark Thimet) is an insecticide product.