American Vanguard Corporation (NYSE:AVD), today announced that its
wholly-owned subsidiary, Amvac Chemical Corporation, has licensed
Scepter-based herbicide products from BASF Corporation for use in the
United States and its territories. Scepter, is a broad-spectrum
herbicide that can be used for both pre-emergence and post-emergence
control of broadleaf weeds in soybeans. Other Scepter-based formulations
can be used as selective post-emergence herbicides that provide superior
control of many hard-to-control weeds in turf applications.
The licensing agreement includes transfer of EPA end-use registrations &
labels, purchase of technical product inventory, license to the Scepter
trademark and formulation know-how. Other terms of the transaction were
not released.
Eric Wintemute, Chairman and CEO of American Vanguard, stated: “We are
very pleased to add the Scepter-based product line to our existing
portfolio. Scepter will broaden our row crop capabilities by allowing us
to participate in the soybean market, which has been a strategic
objective of ours in recent years. Other Scepter-based products will
enhance our offerings for turf applications in the non-crop segment of
our business. We see significant additional opportunities on the horizon
to acquire, license or co-market similar proven, branded products and
American Vanguard is positioned to capitalize on that potential.”
Bob Trogele, Chief Operating Officer of Amvac Chemical commented: “It is
clear that with our recent focused product additions from DuPont, Adama
and now BASF, Amvac is extending its market access in strategic crop
segments and global geographic regions. We are confident that Amvac can
increase the market penetration of these products by creating new added
value formulations and by providing a broader herbicide offering that
expands our current customer base. We continue to seek products,
technologies and business alliances that can strengthen our Yield
Enhancing Solutions umbrella brand for crop protection and complement
our initiatives in precision planting equipment application systems.”
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 the
control of public and animal health pests. 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.
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.
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