FOR IMMEDIATE RELEASE
AMVAC CHEMICAL AND KANESHO SOIL TREATMENT AGREE ON U.S. DISTRIBUTION RIGHTS TO BASAMID®
Newport Beach, CA and Brussels, Belgium – October 14, 2010 - American Vanguard Corporation (NYSE:AVD) and Kanesho Soil Treatment SPRL/BVBA today jointly announced that AVD’s wholly-owned subsidiary AMVAC Chemical Corporation and Kanesho Soil Treatment have completed agreements with Certis-USA regarding the crop protection product Basamid® (dazomet) under which AMVAC will become the exclusive distributor and registration holder for this granular soil fumigant in the United States. Certis-USA, which has been marketing the product under a distribution agreement with Kanesho Soil Treatment, will continue to market Basamid into non-food crop applications under a distribution agreement with AMVAC.
Glen Johnson, AMVAC’s Senior Vice President and Director of Business Development commented: “Basamid complements the strong market position of AMVAC’s Vapam® & K-Pam® soil fumigant brands. We will be developing the use of the granular formulation of Basamid for high-valued crop segments such as strawberries and tomatoes under the tradename Temozad™. AMVAC will also be developing the product for use in other crops such as lettuce & spinach and will be responsible for the re-registration of dazomet in the United States.”
Eric Wintemute, CEO & President of American Vanguard Corporation added: “This agreement is an example of the type of collaborative arrangements that we have been pursuing with a number of companies in our industry. Such engagements create the potential for product acquisitions, new product development possibilities, and co-marketing / co-manufacturing opportunities. We will continue to explore mutually beneficial arrangements as we expand our product portfolio and our geographic reach.”
Hironori Kushibiki, CEO & President of Kanesho Soil Treatment commented: "This is a very important strategic step forward for Kanesho Soil Treatment. Basamid is a well known soil fumigant, widely used in many countries including Japan and Europe, but with further potential to be developed in the United States. Kanesho Soil Treatment nominates AMVAC as its exclusive distributor and regulatory agent and hopes to benefit from AMVAC`s expertise in soil fumigants in this important market. With our strong emphasis on customer value and unique marketing strategy, we see ample future growth opportunities for Basamid in the United States.”
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. American Vanguard is included on the Russell 2000® & Russell 3000® Indexes and the Standard & Poors 600 Index. To learn more about American Vanguard, please reference the Company’s web site at www.american-vanguard.com.
About Kanesho Soil Treatment
Kanesho Soil Treatment is a Belgian company jointly owned by Agro Kanesho Co., Ltd and Mitsui & Co. Ltd. that acquired the global soil fumigant business, including Basamid, from BASF in 2003. Kanesho Soil Treatment manufactures and distributes soil fumigant products such as Basamid and DD (1,3-dichloropropene) globally.
American Vanguard Corporation
William A. Kuser, Director of Investor Relations
OR- AVD’S INVESTOR RELATIONS FIRM
The Equity Group Inc.
www.theequitygroup.com <http://www.theequitygroup.com />
Linda Latman (212) 836-9609
Kanesho Soil Treatment SPRL/BVBA
Masayuki Asai, Director of Corporate Planning