American Vanguard's Amvac subsidiary completes purchase of Vapam business.NEWPORT BEACH Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. , Calif.--(BUSINESS WIRE)--Jan. 6, 1997--American Vanguard Corporation (Nasdaq National Market: AMGD AMGD Acromesomelic Dysplasia, Grebe Type ) today announced that through its subsidiary Amvac Chemical Corporation, it has completed the acquisition of the rights, title and interest to Vapam(R) (Metam Sodium), a soil fumigant fu·mi·gant n. A chemical compound used in its gaseous state as a disinfectant. , from Zeneca Inc. The official closing date was December 31, 1996. The purchase includes all inventories of Vapam(R), ownership of the Environmental Protection Agency Environmental Protection Agency (EPA), independent agency of the U.S. government, with headquarters in Washington, D.C. It was established in 1970 to reduce and control air and water pollution, noise pollution, and radiation and to ensure the safe handling and product registrations and toxicological data, and trademarks. Amvac has manufactured Metam Sodium at its Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. facility since 1988 and sales of Metam Sodium represented approximately 18% and 21% of the Company's consolidated net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight in 1995 and 1994, respectively. Eric Wintemute, President and Chief Executive Officer of American Vanguard, commented, "We expect this acquisition to have a significant favorable impact on revenues in 1997. Based on our knowledge of the market today, the Company expects to achieve an approximate 30% increase in net sales in 1997 directly related to the acquisition of Vapam(R)." The Company, from time to time, may discuss forward-looking information. Except for the historical information contained in this release, all forward-looking information are estimates by the Company's management and aime in the Company's SEC reports and filings. Fommercial uses; GemChem, I nc., a national chemical distributor; Amvac Chemical UK Ltd., the Company's Surrey, England-based office; and Environmental Mediation, Inc., aTACT: American Vanguard Corporatio n, Newport Bea00 or 800-221-2462; Boston 617-236-4266 or 800-225-2030; SF 415-986-4422 or 800-227-0845; LA 310-820e page. mputer Writers ADVISORY...for Wednesday (Jan. 8) --(BUSINESS WIRE)-- WHAT: Intel's first microprocessor with MMX (MultiMedia EXtensions) A set of 57 additional instructions built into the Pentium MMX chip for improved multimedia and modem performance by performing mathematical operations on multiple sets of data at the same time (see SIMD). (TM) Technology and new software designed to take advantage of the new multimedia and communications capabilities will be introduced on Wednesday, January 8, 1997. The program, hosted by Craig Barrett Craig Barrett may refer to:
officer, and Mike Aymar, vice president, Desktop Products Group, begins at 10 a.m. A demo showcase displaying software designed for MMX technology MMX technology - Matrix Math eXtensions and a variety of PCs and notebooks configured with Pentium(R) Processors with MMX Technology will be available for hands-on experience. Executives from Intel and software vendors will be available during the showcase reception. You are invited to "See It! Hear It! Experience It!" yourselves. WHEN: Wednesday, January 8, 1997 9:30 a.m. - On-site registration 10 a.m. - Program 10:45 a.m. - Demo showcase WHERE: Spectrum 511 Harrison St. (at First St., four blocks from Moscone Convention Center) San Francisco Free valet parking available. REGISTER: Press and analysts may register to attend the event by contacting Jill Fennewald, Intel, at jill_fennewald@ccm.sc.intel.com or 408-765-4234. Please provide your name, publication, phone, fax and email address. CONTACT: Intel Joanne Hasegawa, 408/765-7525 email: joanne_hasegawa@ccm.hf.intel.com |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion