American Vanguard Acquires Animal Health Product Line.Business Editors 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)--Dec. 23, 2003 American Vanguard Corp. (AMEX AMEX See: American Stock Exchange :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 ) today announced that AMVAC Chemical Corporation (AMVAC), a wholly-owned subsidiary of the Company, completed the acquisition of certain assets related to the active ingredient dichlorvos di·chlor·vos n. A nonpersistent organophosphorous pesticide of low toxicity to humans. dichlorvos a broad-spectrum organophosphorus insecticide and anthelmintic. ("DDVP DDVP see dichlorvos. ") used in the animal health business and marketed primarily under the trade name Nuvan(R) from Novartis Animal Health, Inc., a business unit of Novartis AG (NYSE NYSE See: New York Stock Exchange :NVS NVS - Non-Volatile Storage ). The terms were not disclosed. As stated when the definitive agreement was announced on November 20, 2003, AMVAC expects Nuvan to generate sales of approximately $5 million in the first year and anticipates sales levels expanding as the Company develops customer relationships. The Company plans to begin selling the acquired products in the first quarter of 2004 to the existing customer base established by Novartis in over 30 countries, excluding the U.S. Since 1975, AMVAC has manufactured a technical form of DDVP, used primarily in specialty markets as a broad-spectrum household and specialty insecticide. Nuvan, which is used primarily for animal health to control flies and ecto-parasites, will expand the Company's animal health segment as well as its international sales of DDVP. DDVP products are highly effective in controlling, in enclosed spaces, a wide variety of pests including mosquitoes, flies, and cockroaches cockroaches insects which may carry Salmonella spp. in their gut and play a part in the spread of the disease. . AMVAC has been the primary generator of data to support the registration of DDVP products worldwide, as well as the primary data holder for DDVP since 1975. 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 public and animal health. The Company's basic strategy is to acquire brand name, niche product lines from larger companies that divest mature products to focus on newly discovered molecules. During 2003, American Vanguard was recognized as one of Business Week's Hot Growth Companies (#94), Fortune Small Business' America's 100 Fastest Growing Small Companies (#35) and Forbes' Hot Shots: 200 Up and Coming Companies (#23). To learn more about American Vanguard, please reference the Company's web site at www.american-vanguard.com The Company, from time to time, 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 and are 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 from time-to-time 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. |
|
||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion