American Vanguard
Corporation (NYSE: AVD) today announced that its
subsidiary, AMVAC Chemical Corporation, entered into an
exclusive multi-year agreement with
Bayer CropScience
LP to market, sell and distribute Bayleton®, a
fungicide, in the United States. Terms of the agreement were
not disclosed.
Bayleton (active ingredient Triadimefon) controls the
diseases, powdery mildew and rusts on a range of fruits and
vegetables, including pumpkins, melons, grapes, and
cucumbers, as well as apples and pears, the two crops on
which it is most often used. Under the terms of the
agreement, Bayer CropScience will supply the formulated
product to AMVAC. AMVAC will begin marketing the product
immediately.
Eric Wintemute, President
and CEO of American Vanguard, stated, "Bayleton is an
important addition to our portfolio in top fruit. Since we
have a strong presence in Bayleton's key crops and regions,
we believe AMVAC is well positioned to maximize the
potential from this product. I am especially pleased to
report that this agreement represents our third agreement
with Bayer CropScience to date. We continue to execute on
our growth strategy to acquire and license niche product
lines from the largest companies in the industry."
American Vanguard
Corporation is a diversified specialty and agricultural
products company that develops and markets products for crop
protection and management, turf and ornamental management,
and public and animal health. The Company's basic strategy
is to acquire brand name, niche product lines from larger
companies that divest mature products to focus on newly
discovered molecules. During 2005, American Vanguard was
recognized as one of BusinessWeek's Hot Growth Companies
(#72), FORTUNE Small Business' America's 100 Fastest Growing
Small Companies (#40) and Forbes' 200 Best Small Companies
(#59). 2005 marks the third consecutive year American
Vanguard has been included on these three lists - the only
company to hold this honor. American Vanguard is included on
the Russell 2000® and Russell® 3000 Indexes.