Newport Beach, California
December 17, 2007
American Vanguard
Corporation (NYSE: AVD - News), today announced that it
acquired the pentachloronitrobenzene fungicide product line from
the Crop Protection division of
Chemtura Corporation
(NYSE:CEM - News). The terms were not disclosed.
The Turfcide® and Terraclor® brands are highly effective
fungicides that control a wide range of diseases in turf &
ornamental applications, certain agricultural crops, and as a
component of seed treatment dressings. These products are
registered in the US, Canada, Mexico, Brazil, Australia, Turkey,
South Africa and a number of other countries.
Eric Wintemute, President and CEO of American Vanguard,
commented, “With the acquisition of these Chemtura products we
are expanding our presence in the attractive turf & ornamental
segment of the market. We will extend our global footprint for
such fungicide products, particularly in Canada and Mexico,
which are well served by our North American manufacturing
capabilities. In addition to absorbing Chemtura’s distribution
channel to end-use markets, we are acquiring additional
formulations that should facilitate our global penetration. This
acquisition also enhances the fungicide portion of our current
product portfolio, balancing our traditional strength and
expertise in herbicides and insecticides.”
American Vanguard Corporation is a diversified specialty and
agricultural products company that develops and markets products
for crop protection and management, turf and ornamentals
management and public and animal health. American Vanguard is
included on the Russell 2000® and Russell® 3000 Indexes. |
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