American Vanguard Corporation and DuPont Crop Protection today announced
that AMVAC C.V., the Netherlands-based international subsidiary of
American Vanguard, has acquired the DuPont global Bromacil herbicide
business assets. Financial terms of the agreement were not disclosed.
The assets divested include the Bromacil Hyvar® and Krovar® trademarks,
product registrations, product registration data, customer information,
access to certain know-how, technical registrations and associated
registration data outside of North America.
Bromacil is a broad spectrum residual herbicide used on crops such as
pineapples, citrus, agave and asparagus, and is marketed globally under
the Hyvar® and Krovar® brands. Bromacil herbicides remain important weed
control tools and are used in countries such as; Japan, Thailand,
Mexico, Cost Rica and Brazil.
Eric Wintemute, chairman & CEO of American Vanguard commented: “This
product line acquisition represents an important addition to our
existing herbicide portfolio. These proven weed management products will
strengthen our competitive position in serving many profitable niche
crop markets. Along with other initiatives that we are pursuing,
acquiring these Bromacil herbicide assets will significantly enhance our
international expansion initiative. We have a history of excellent
working relationships with DuPont and are delighted to be carrying this
successful product forward.”
“This agreement is another step in the execution of our DuPont Crop
Protection business growth strategy,” said Rik
Miller, president, DuPont Crop Protection. “The agreement further
enhances our focus on innovative new offerings that drive profitable
growth both today and over the long term.”
American Vanguard Corporation (NYSE:AVD) 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® & Russell 3000® Indexes and the Standard & Poors
Small Cap 600 Index. To learn more about American Vanguard, please
reference the company’s web site at www.american-vanguard.com.
DuPont (NYSE: DD) has been bringing world-class science and
engineering to the global marketplace in the form of innovative
products, materials, and services since 1802. The company believes that
by collaborating with customers, governments, NGOs, and thought leaders
we can help find solutions to such global challenges as providing enough
healthy food for people everywhere, decreasing dependence on fossil
fuels, and protecting life and the environment. For additional
information about DuPont and its commitment to inclusive innovation,
please visit www.dupont.com.
American Vanguard Forward-Looking Statements: In its public
commentary, the Company may discuss forward-looking information. Except
for the historical information contained in this release, all
forward-looking statements are estimates by the Company’s management
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 in the Company’s SEC reports and filings. All forward-looking
statements, if any, in this release represent the Company’s judgment as
of the date of this release.
DuPont Forward-Looking Statements: This news release contains
forward-looking statements which may be identified by their use of words
like “plans,” “expects,” “will,” "believes," “intends,” “estimates,”
“anticipates” or other words of similar meaning. All statements that
address expectations or projections about the future, including
statements about the company’s growth strategy, product development,
regulatory approval, market position, anticipated benefits of
acquisitions, timing of anticipated benefits from restructuring actions,
outcome of contingencies, such as litigation and environmental matters,
expenditures and financial results, are forward-looking statements.
Forward-looking statements are not guarantees of future performance and
are based on certain assumptions and expectations of future events which
may not be realized. Forward-looking statements also involve risks and
uncertainties, many of which are beyond the company’s control. Some of
the important factors that could cause the company’s actual results to
differ materially from those projected in any such forward-looking
statements are: fluctuations in energy and raw material prices; failure
to develop and market new products and optimally manage product life
cycles; significant litigation and environmental matters; failure to
appropriately manage process safety and product stewardship issues;
changes in laws and regulations or political conditions; global economic
and capital markets conditions, such as inflation, interest and currency
exchange rates; business or supply disruptions; security threats, such
as acts of sabotage, terrorism or war, weather events and natural
disasters; ability to protect and enforce the company's intellectual
property rights; successful integration of acquired businesses and
separation of underperforming or non-strategic assets or businesses and
successful completion of the proposed spinoff of the Performance
Chemicals segment including ability to fully realize the expected
benefits of the proposed spinoff. The company undertakes no duty to
update any forward-looking statements as a result of future developments
or new information.
Copyright Business Wire 2015