Monheim, Germany
December 13, 2010
Bayer CropScience today announced that is has divested certain crop protection products to Amvac Chemical Corporation (Amvac), a wholly-owned subsidiary of American Vanguard Corporation, Newport Beach, USA. The divestment includes the insecticidal active ingredients Fenamiphos (Nemacur®) and Ethoprophos (Mocap®). Financial terms were not disclosed.
This decision is in line with Bayer CropScience’s strategy to further streamline its crop protection portfolio and to expand the share of products based on proprietary new active ingredients from its own research. For Amvac, the acquisition of Bayer CropScience’s divested products is concurrent with the company’s strategy of enhancing its product portfolio across geography with the intention of offering a broad portfolio of solutions to its customers.
Bayer CropScience veräußert Pflanzenschutzmittel an Amvac Chemical Corporation
Bayer CropScience hat einige Pflanzenschutzmittel an die Amvac Chemical Corporation (Amvac), ein Tochterunternehmen der American Vanguard Corporation mit Sitz in Newport Beach, USA, veräußert. Verkauft wurden die Insektizidwirkstoffe Fenamiphos (Nemacur®) und Ethoprophos (Mocap®). Finanzielle Einzelheiten wurden nicht bekannt gegeben.
Diese Entscheidung steht im Einklang mit der Strategie von Bayer CropScience, sein Pflanzenschutzportfolio weiter zu straffen und den Anteil an Produkten mit neuen Wirkstoffen aus der eigenen Forschung zu vergrößern. Für Amvac deckt sich die Übernahme der Produkte von Bayer CropScience mit der Strategie des Unternehmens, sein Produktportfolio geografisch auszuweiten, damit es seinen Kunden ein breites Sortiment an Produktlösungen bieten kann.
American Vanguard Announces Acquisition of Major Insecticides from Bayer CropScience
American Vanguard Corporation (NYSE: AVD), today announced that its wholly-owned subsidiary, Amvac Chemical Corporation, has completed the acquisition of two insecticide product lines from Bayer CropScience, LLC. The first includes the global product line relating to the active ingredient Ethoprophos (sold under the trade name Mocap®) and the second includes the global (except for Europe and Argentina) product line Fenamiphos (sold under the trade name Nemacur®). Both product lines include registrations and data rights, rights relating to manufacturing and formulation know-how, inventories, the Ultima® packaging system and the trademarks Mocap, Nemacur and Ultima. Other terms of the transaction were not released.
Mocap is a leading soil insecticide that is registered in 50 countries where it is used to combat many nematode species in a wide range of crops. Nemacur is a leading soil insecticide that is registered in 30 countries for use primarily as a nematicide with additional efficacy against above-ground sucking insects.
Mocap and Nemacur are well-positioned in many high-valued fruit and vegetable crops, allowing them to achieve very attractive profitability. They can help professional crop protection users replace less desirable soil fumigants (such as methyl bromide), and are a powerful tool against resistance development in numerous soil insect species. Each of these products has a well-recognized global brand identity and well-established worldwide distribution channels.
Eric Wintemute, President and CEO of American Vanguard, stated: “We are very pleased to be able to add Mocap and Nemacur to our already extensive insecticide product portfolio. As the “products of choice” in many specialized crop applications, Mocap and Nemacur have enjoyed an attractive competitive position and excellent profitability for many years. We feel that our considerable expertise with insecticidal products will allow us to expand on the success that has been achieved under the excellent stewardship of Bayer CropScience.”
Mr. Wintemute continued: “In light of the fact that the majority of Mocap and Nemacur sales occur outside the United States, these products help American Vanguard to further our strategic goal of international expansion.” He concluded: “These transactions and others that we are pursuing underscore the importance that we attribute to product portfolio enhancement and effective operational arrangements. Interacting with our industry peers to expand our product offering, achieve manufacturing efficiencies and distribute products effectively to a global marketplace is an important objective of American Vanguard. We look forward to consummating additional value-adding transactions in the near future.”
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® & Russell 3000® Indexes and the Standard & Poors 600 Index.
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