Carbide will sell its agricultural products business.

The Danbury, Conn.-based chemical firm said it has reached a definitive agreement to sell the business to the U.S. subsidiary of Rhone-Poulenc S.A., a major French manufacturer of chemicals and pesticides, for $575 million in cash. The sale does not include the agricultural production facilities of Union Carbide India Ltd. Union Carbide said it does not expect to post any material gain or loss on its earnings statement as a result of the sale. The sale is another step in Union Carbide’s corporate restructuring program designed to reduce debt and improve earnings and cash flow.