BASF Sells Counter(R) Insecticide Product Line and Lock 'n Load(R) Delivery System to American Vanguard
28 11월 2006 - 10:00PM
Business Wire
American Vanguard Corporation (NYSE: AVD) and BASF
Aktiengesellschaft, Ludwigshafen, Germany (NYSE:BF) today announced
that BASF sold the global Counter insecticide product line and the
Lock �n Load� closed delivery system to AMVAC Chemical Corporation,
a subsidiary of American Vanguard. The Counter product line
consists of the active ingredient Terbufos, the trademark Counter,
the manufacturing and formulation know-how, registration rights,
intellectual property rights and inventories. Counter generated
sales of approximately $25 million in 2005. First introduced in
1974, it is a systemic insecticide-nematicide registered in more
than 20 countries, with the main markets in North and Latin
America. It is used on agricultural crops, mainly corn, bananas
sugar beets and coffee to protect against various insect pests.
Lock �n Load is a patented, closed delivery system for granular
products that was first marketed in the late eighties. Currently
Counter and Phorate, a product AMVAC acquired from BASF in 2005,
are marketed in Lock �n Load. Bayer CropScience LLP has licensed
this technology and is marketing their Aldicarb and Ethoprop
products in Lock �n Load in the USA. Eric Wintemute, President and
CEO of American Vanguard, stated, �This acquisition is our largest
to date, and brings a complementary product line and delivery
system to American Vanguard. Counter strongly complements the
Thimet� (Phorate) insecticide business we acquired from BASF in
November of last year. We have been very pleased with Thimet�s
performance over the last year and are enthusiastic about the
prospects for Counter, which we will begin selling immediately.
This acquisition reflects the continued execution of our growth
strategy to acquire and license niche product lines from larger
companies in our industry. Additionally, the Lock �n Load closed
delivery system offers terrific synergies with our SmartBox�
delivery system, and we are quickly emerging as a leading owner and
provider of safe granular delivery technology.� Mike Heinz,
President of the BASF Agricultural Products division, stated, �This
divestiture reflects our ongoing review of BASF�s Agricultural
Products portfolio. Like Thimet, Counter offers limited synergy for
BASF, and is a better strategic fit for AMVAC. This is also the
case with the Lock �n Load system, which pairs well with AMVAC�s
SmartBox.� Glen Johnson, Senior Vice President of AMVAC, added,
�Counter brings to the market a product with unique features such
as systemic activity, along with the ability to control nematodes
in high value crops such as bananas, sugarbeets and coffee. The
addition of Counter to our product line will be a significant
contributor to our international business. This product will allow
us to strengthen our network with distributors in specialty crops
in Latin America, Africa and Asia Pacific where we have recently
experienced significant growth with our other products. We are
extremely excited about this acquisition and we see advantages in
marketing Counter not only in Lock �n Load but also in our SmartBox
equipment.� About BASF With sales of �3,298�million in 2005, BASF�s
Agricultural Products division is a leader in crop protection and a
strong partner to the farming industry providing well-established
and innovative fungicides, insecticides and herbicides. Farmers use
these products and services to improve yields and quality of
agricultural crops. Other uses include public health,
structural/urban pest control, turf and ornamental plants. BASF
aims to turn knowledge rapidly into market success. The vision of
BASF�s Agricultural Products division is to be the world�s leading
innovator, optimizing agricultural production, improving nutrition,
and thus enhancing the quality of life for a growing world
population. Further information can be found on the web at
www.agro.basf.com. BASF is the world�s leading chemical company:
The Chemical Company. Its portfolio ranges from chemicals,
plastics, performance products, agricultural products and fine
chemicals to crude oil and natural gas. As a reliable partner to
virtually all industries, BASF�s intelligent system solutions and
high-value products help its customers to be more successful. BASF
develops new technologies and uses them to open up additional
market opportunities. It combines economic success with
environmental protection and social responsibility, thus
contributing to a better future. BASF has over 95,000 employees and
posted sales of more than �42.7 billion in 2005. Further
information on BASF is available on the Internet at www.basf.com.
About American Vanguard 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. The
Company�s basic strategy is to acquire and license brand name,
niche product lines from larger companies that divest mature
products to focus on newly discovered molecules. American Vanguard
is included on the Russell 2000� and Russell� 3000 Indexes. To
learn more about American Vanguard, please reference the Company�s
web site at www.american-vanguard.com. American Vanguard, from time
to time, may discuss forward-looking information. Except for the
historical information contained in this release, all
forward-looking statements are estimates by American Vanguard�s
management and are subject to various risks and uncertainties that
may cause results to differ from management�s current expectations.
Such factors include weather conditions, changes in regulatory
policy and other risks as detailed from time-to-time in American
Vanguard�s SEC reports and filings. All forward-looking statements,
if any, in this release represent American Vanguard�s judgment as
of the date of this release. American Vanguard Corporation (NYSE:
AVD) and BASF Aktiengesellschaft, Ludwigshafen, Germany (NYSE:BF)
today announced that BASF sold the global Counter insecticide
product line and the Lock 'n Load(R) closed delivery system to
AMVAC Chemical Corporation, a subsidiary of American Vanguard. The
Counter product line consists of the active ingredient Terbufos,
the trademark Counter, the manufacturing and formulation know-how,
registration rights, intellectual property rights and inventories.
Counter generated sales of approximately $25 million in 2005. First
introduced in 1974, it is a systemic insecticide-nematicide
registered in more than 20 countries, with the main markets in
North and Latin America. It is used on agricultural crops, mainly
corn, bananas sugar beets and coffee to protect against various
insect pests. Lock 'n Load is a patented, closed delivery system
for granular products that was first marketed in the late eighties.
Currently Counter and Phorate, a product AMVAC acquired from BASF
in 2005, are marketed in Lock 'n Load. Bayer CropScience LLP has
licensed this technology and is marketing their Aldicarb and
Ethoprop products in Lock 'n Load in the USA. Eric Wintemute,
President and CEO of American Vanguard, stated, "This acquisition
is our largest to date, and brings a complementary product line and
delivery system to American Vanguard. Counter strongly complements
the Thimet(R) (Phorate) insecticide business we acquired from BASF
in November of last year. We have been very pleased with Thimet's
performance over the last year and are enthusiastic about the
prospects for Counter, which we will begin selling immediately.
This acquisition reflects the continued execution of our growth
strategy to acquire and license niche product lines from larger
companies in our industry. Additionally, the Lock 'n Load closed
delivery system offers terrific synergies with our SmartBox(R)
delivery system, and we are quickly emerging as a leading owner and
provider of safe granular delivery technology." Mike Heinz,
President of the BASF Agricultural Products division, stated, "This
divestiture reflects our ongoing review of BASF's Agricultural
Products portfolio. Like Thimet, Counter offers limited synergy for
BASF, and is a better strategic fit for AMVAC. This is also the
case with the Lock 'n Load system, which pairs well with AMVAC's
SmartBox." Glen Johnson, Senior Vice President of AMVAC, added,
"Counter brings to the market a product with unique features such
as systemic activity, along with the ability to control nematodes
in high value crops such as bananas, sugarbeets and coffee. The
addition of Counter to our product line will be a significant
contributor to our international business. This product will allow
us to strengthen our network with distributors in specialty crops
in Latin America, Africa and Asia Pacific where we have recently
experienced significant growth with our other products. We are
extremely excited about this acquisition and we see advantages in
marketing Counter not only in Lock 'n Load but also in our SmartBox
equipment." About BASF With sales of EUR 3,298 million in 2005,
BASF's Agricultural Products division is a leader in crop
protection and a strong partner to the farming industry providing
well-established and innovative fungicides, insecticides and
herbicides. Farmers use these products and services to improve
yields and quality of agricultural crops. Other uses include public
health, structural/urban pest control, turf and ornamental plants.
BASF aims to turn knowledge rapidly into market success. The vision
of BASF's Agricultural Products division is to be the world's
leading innovator, optimizing agricultural production, improving
nutrition, and thus enhancing the quality of life for a growing
world population. Further information can be found on the web at
www.agro.basf.com. BASF is the world's leading chemical company:
The Chemical Company. Its portfolio ranges from chemicals,
plastics, performance products, agricultural products and fine
chemicals to crude oil and natural gas. As a reliable partner to
virtually all industries, BASF's intelligent system solutions and
high-value products help its customers to be more successful. BASF
develops new technologies and uses them to open up additional
market opportunities. It combines economic success with
environmental protection and social responsibility, thus
contributing to a better future. BASF has over 95,000 employees and
posted sales of more than EUR 42.7 billion in 2005. Further
information on BASF is available on the Internet at www.basf.com.
About American Vanguard 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. The
Company's basic strategy is to acquire and license brand name,
niche product lines from larger companies that divest mature
products to focus on newly discovered molecules. American Vanguard
is included on the Russell 2000(R) and Russell(R) 3000 Indexes. To
learn more about American Vanguard, please reference the Company's
web site at www.american-vanguard.com. American Vanguard, from time
to time, may discuss forward-looking information. Except for the
historical information contained in this release, all
forward-looking statements are estimates by American Vanguard's
management and are subject to various risks and uncertainties that
may cause results to differ from management's current expectations.
Such factors include weather conditions, changes in regulatory
policy and other risks as detailed from time-to-time in American
Vanguard's SEC reports and filings. All forward-looking statements,
if any, in this release represent American Vanguard's judgment as
of the date of this release.
Basf (NYSE:BF)
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