FOR IMMEDIATE RELEASE
AMVAC Chemical Licenses Bio-Rational Larvicide from Summit Chemical
Newport Beach, CA – February 2, 2012 – American Vanguard Corporation (NYSE:AVD) announced today that its wholly owned subsidiary AMVAC Chemical Corporation has licensed rights to Summit Chemical Corporation’s Bti Briquets for the global professional mosquito larvicide market. Bti Briquets are a unique, sustained release formulation of the naturally occurring bacterium Bacillus thuringiensis israelensis (Bti) which is widely accepted as one of the safest bio-rational larvicides available today. This product provides a versatile, efficient, cost-effective and environmentally compliant treatment which has contributed to successful larvicide control for more than three decades in U.S. and international public health markets.
Vince Pascarelli, AMVAC’s Director of International Business Development commented: “This is a strategic growth area for AMVAC, and we are pleased to be aligned with Summit, a well-respected leader in the production and supply of mosquito larvicides. This agreement will form the cornerstone of a strategic partnership with Summit which is expected to provide AMVAC with a pipeline of new larvicides manufactured by Summit for the public health mosquito control market.”
Jeff Alvis, Business Manager for AMVAC’s Environmental Products business commented: “AMVAC Environmental Products’ well known Dibrom® Concentrate and Trumpet®EC are recognized as the most effective products for adult mosquito control. The Company’s entry into the larvicide market broadens our offering for existing customers and provides the opportunity to reach new customers in domestic markets and abroad. The prospect of developing several new larvicide products in collaboration with Summit, will provide AMVAC with a very comprehensive set of products for mosquito control programs worldwide.”
Jonathan Cohen, President of Summit Chemical stated: “Since the introduction of Bti Briquets, Summit has solely manufactured, marketed and serviced this product to the Vector Control Industry. While the Bti Briquet product will remain unchanged, AMVAC is positioned to provide a greater level of service to the professional public health markets through their geographical reach and resource capacity. We expect this alliance to benefit our two companies through increased market penetration, new product development and also provide the global Vector Control and Public Health community with excellent product availability, timely application information and responsive customer service.”
About American Vanguard
American Vanguard Corporation is a diversified specialty and agricultural products company that develops, manufactures and markets products for crop protection, turf and ornamentals management and public health applications. American Vanguard trades on the New York Stock Exchange (NYSE:AVD) and is included in the Russell 2000®, Russell 3000® and the S&P 600 Small Cap® Indexes. To learn more about American Vanguard, please reference the Company’s web site at www.amvac-chemical.com.
This release may reference 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 risks detailed 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.
About Summit Chemical
Summit Chemical Corporation has been involved in formulation and manufacturing for over 50 years, and markets a diverse line of products including USDA authorized fogging concentrates, residual sprays, and lawn and garden pest control products, including products for the control of mosquitoes.
American Vanguard Corporation
William A. Kuser, Director of Investor Relations
The Equity Group Inc.
Linda Latman (212) 836-9609