American Vanguard Enters Exclusive Multi-Year Licensing Agreement with Dow AgroSciences to Supply Lorsban(R) Insecticide in SmartBox(R).NEWPORT BEACH, Calif. -- American Vanguard Corporation (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 its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , AMVAC Chemical Corporation, entered into an exclusive multi-year licensing agreement with Dow AgroSciences, a wholly owned subsidiary of The Dow Chemical Company The Dow Chemical Company (NYSE: DOW TYO: 4850 ) is an American multinational corporation headquartered in Midland, Michigan. Overview The Dow Chemical Company is currently the second largest chemical manufacturer in the World (after BASF)[1]. (NYSE NYSE See: New York Stock Exchange :DOW), to market, sell and distribute Lorsban 15G insecticide (active ingredient chlorpyrifos), through AMVAC's SmartBox delivery system in the United States. AMVAC has licensed the entire agricultural label from Dow AgroSciences and will begin selling Lorsban SmartBox in the 2006 season. Glen Johnson, Senior Vice President and Director of Business Development for AMVAC, stated, "Lorsban represents the fifth product we will market through our SmartBox system and the first product we have licensed for use outside of corn and soybeans. This license will substantially broaden our reach into crops we do not currently serve with SmartBox including various vegetable crops, sugar beets, sweet potatoes, and peanuts. We see this agreement as an important opportunity to further develop the positioning of SmartBox as the delivery system of choice for granular insecticides." Eric Wintemute, President and 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, stated, "While we have a long-standing relationship with Dow, this license is the first deal between our two companies. We hope that this agreement will serve as the basis for future collaborations." Hank King, Lorsban product manager of Dow AgroSciences, commented, "We are very pleased that Lorsban 15G will be available to farmers in the state-of-the-art SmartBox system. The cost effective performance of Lorsban 15G combined with the superior SmartBox technology make a perfect fit, and provide farmers with additional options for pest control." AMVAC's SmartBox is a closed handling system that combines precision insecticide application with reduced applicator ap·pli·ca·tor n. An instrument for applying something, such as a medication. applicator, n a device for applying medication; usually a slender rod of glass or wood, used with a pledget of cotton on the end. exposure. Its 50-lb. returnable containers conveniently eliminate the need to open, pour and dispose of bags as well as reducing the risk of skin contact or inhalation exposure. It also features in-cab push-button (electronics) push-button - A roughly fingertip-sized plastic cover attached to a spring-loaded, normally-open switch, which, when pressed, closes the switch. Typical examples are the keys on a computer or calculator keyboard and mouse buttons. insecticide control, monitoring and data record keeping capabilities. The SmartBox is a low-maintenance system that can be easily fitted on all major brands of planters. Lorsban 15G controls a broad spectrum of insect pests such as corn rootworms, lesser cornstalk corn·stalk also corn stalk n. The stalk or stem of a corn plant. Noun 1. cornstalk - the stalk of a corn plant corn stalk borer borer, name applied to various animals that are injurious because of their ability to penetrate plant or animal tissues. Among insects, some borers are beetles, e.g. , cutworms, wireworms, white grubs and sugar beet root maggot maggot: see blowfly; fly; larva. . The product also inhibits the growth and development of white mold disease. Accordingly, Lorsban 15G is registered for use on alfalfa, asparagus, corn (field, sweet, and corn grown for seed), citrus grove floors, grain sorghum/milo, onions (dry bulb), peanuts, soybeans, sugar beets, sunflowers, sweet potatoes, tobacco, and various vegetable crops. 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 ornamental 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 2005, American Vanguard was recognized as one of BusinessWeek's Hot Growth Companies (#72), FORTUNE Small Business' America's 100 Fastest Growing Small Companies (#40) and Forbes' 200 Best Small Companies (#59). 2005 marks the third consecutive year American Vanguard has been included on these three lists - the only company to hold this honor. American Vanguard is included on the Russell 2000(R) and Russell(R) 3000 Indexes. To learn more about American Vanguard, please reference the Company's web site at www.american-vanguard.com. American Vanguard, 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 American Vanguard'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 American Vanguard's SEC reports and filings. All forward-looking statements, if any, in this release represent American Vanguard's judgment as of the date of this release. Lorsban is a registered trademark of Dow AgroSciences LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . SmartBox is a registered trademark of AMVAC Chemical Corporation. |
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