AMVAC, FORTUNE Join Forces to Market Azadirachtin-Derived Product.NEWPORT BEACH, Calif.--(BUSINESS WIRE)--June 19, 1998-- American Vanguard Corporation [ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :AVD AvD Automobilclub von Deutschland (German automobile club) AVD Academy of Veterinary Dentistry AVD Audio Video Design (Melbourne, FL) AVD Audio Video Data AVD Association des Volontaires pour le Développement ] announced today that AMVAC Chemical Corporation, a whollyowned subsidiary of American Vanguard Corporation, and Fortune Biotech Limited have entered into an exclusive arrangement in the U.S. to offer crop protection products derived from the neem tree (Azadiracta indica). Amongst the products from the neem tree is azadirachtin, an insecticide ingredient which breaks the reproductive cycle reproductive cycle n. The cycle of physiological changes that begins with conception and extends through gestation and parturition. of a number of hard to control pests including white flies, gypsy months, diamondback moths, mushroom flies, leafminers, Japanese beetles, Colorado potato beetles and leafrollers. The product is biodegradable, leaves no toxic residues and is harmless to birds, mammals and beneficial insects. Azadirachtin will be extracted at a state-of-the-art Fortune Biotech Limited facility recently completed in India, where the tree is indigenous. AMVAC will manufacture a proprietary 3% active formulation product at its Los Angeles manufacturing plant and will market the product under the trade names Amazin, OmAzin and Ecozin for the mushroom, ornamental and agricultural markets. U.S. EPA EPA eicosapentaenoic acid. EPA abbr. eicosapentaenoic acid EPA, n.pr See acid, eicosapentaenoic. EPA, n. approval is expected this summer. Eric G. Wintemute, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of American Vanguard, commented, "This partnership broadens and balances AMVAC's portfolio to include `biorational' materials that complement organic and integrated Pest Management Integrated Pest Management (IPM), planned program that coordinates economically and environmentally acceptable methods of pest control with the judicious and minimal use of toxic pesticides. programs, and it gives AMVAC an entry into two new markets." Other formulations and products are currently under development to capitalize on other market opportunities in the U.S. American Vanguard is a manufacturer and marketer of crop protection and specialty products. Founded in 1969, the Company has realized 25% annual sales growth over the past ten years by expanding its production offerings and marketing and sales efforts in the U.S. and abroad. Its brand name products include Vapam, Bidrin, PCNB PCNB pentachloronitrobenzene. , Durham metaldehyde metaldehyde a common molluscicide; its formulation in a bran base, especially pellets, makes it a positive risk for all animal species and a very serious threat to all urban dogs. granules Granules Small packets of reactive chemicals stored within cells. Mentioned in: Allergic Rhinitis, Allergies , Amid-Thin W, Citrus Fix, K-Salt, Fruitone N, and Tre-Hold. In addition toAmerican Vanguard Corp. Page 2 June 19, 1998 AMVAC Chemical Corporation, the Company's subsidiaries include GemChem, Inc., a national chemical distributor; AMVAC Chemical UK Ltd., the Company's Surrey, England-based office; Quimica Amvac de Mexico S.A. de C.V., the Company's Mexican subsidiary; and Environmental Mediation, Inc., an environmental consulting firm. Founded in 1993, Fortune Biotech Limited operates a world scale, stateof-the-art neem neem (nem) Azadirachta indica, a large evergreen tree having antifungal, antibacterial, antiviral, and antimalarial activity; long used medicinally for a wide variety of indications. processing facility outside of Hyderabad, India. In addition to its azadirachtin product, Fortune markets neem oil and deoiled neem cake and is actively developing new products for the agricultural, residential and animal health markets. The Company, from time to time, may discuss forward-looking information. Except for the historical information contained in this release, all forward-looking information is based on estimates by the Company's management and is 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, which are detailed from time to time in the Company's SEC reports and filings. Forward-looking statements in this release represent the Company's judgement as of the date of this release. The Company disclaims, however, any intent or obligations to update such statements.
CONTACT: FOR AMVAC AVD'S INVESTOR RELATIONS FIRM
Wall Street Resource The Equity Group Inc.
Jeffrey Kone Loren Goldstein
(805) 965-1589 (212) 836-9604
or
Eric G. Wintemute, President & CEO
David B. Cassidy, Executive Vice President
James A. Barry, Senior Vice
President & CFO (949) 260-1200
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