Basf (NYSE:BF)
Historical Stock Chart
From Jun 2019 to Jun 2024
American Vanguard Corporation (NYSE: AVD) and BASF Aktiengesellschaft,
Ludwigshafen, Germany (NYSE:BF) today announced that BASF sold the
global Counter insecticide product line and the Lock ’n
Load® closed delivery system to AMVAC Chemical
Corporation, a subsidiary of American Vanguard. The Counter product line
consists of the active ingredient Terbufos, the trademark Counter, the
manufacturing and formulation know-how, registration rights,
intellectual property rights and inventories.
Counter generated sales of approximately $25 million in 2005. First
introduced in 1974, it is a systemic insecticide-nematicide registered
in more than 20 countries, with the main markets in North and Latin
America. It is used on agricultural crops, mainly corn, bananas sugar
beets and coffee to protect against various insect pests.
Lock ‘n Load is a patented, closed delivery
system for granular products that was first marketed in the late
eighties. Currently Counter and Phorate, a product AMVAC acquired from
BASF in 2005, are marketed in Lock ‘n Load.
Bayer CropScience LLP has licensed this technology and is marketing
their Aldicarb and Ethoprop products in Lock ‘n
Load in the USA.
Eric Wintemute, President and CEO of American Vanguard, stated, “This
acquisition is our largest to date, and brings a complementary product
line and delivery system to American Vanguard. Counter strongly
complements the Thimet® (Phorate) insecticide
business we acquired from BASF in November of last year. We have been
very pleased with Thimet’s performance over
the last year and are enthusiastic about the prospects for Counter,
which we will begin selling immediately. This acquisition reflects the
continued execution of our growth strategy to acquire and license niche
product lines from larger companies in our industry. Additionally, the
Lock ’n Load closed delivery system offers
terrific synergies with our SmartBox®
delivery system, and we are quickly emerging as a leading owner and
provider of safe granular delivery technology.”
Mike Heinz, President of the BASF Agricultural Products division,
stated, “This divestiture reflects our
ongoing review of BASF’s Agricultural
Products portfolio. Like Thimet, Counter offers limited synergy for
BASF, and is a better strategic fit for AMVAC. This is also the case
with the Lock ‘n Load system, which pairs
well with AMVAC’s SmartBox.”
Glen Johnson, Senior Vice President of AMVAC, added, “Counter
brings to the market a product with unique features such as systemic
activity, along with the ability to control nematodes in high value
crops such as bananas, sugarbeets and coffee. The addition of Counter to
our product line will be a significant contributor to our international
business. This product will allow us to strengthen our network with
distributors in specialty crops in Latin America, Africa and Asia
Pacific where we have recently experienced significant growth with our
other products. We are extremely excited about this acquisition and we
see advantages in marketing Counter not only in Lock ‘n
Load but also in our SmartBox equipment.”
About BASF
With sales of €3,298 million in 2005, BASF’s
Agricultural Products division is a leader in crop protection and a
strong partner to the farming industry providing well-established and
innovative fungicides, insecticides and herbicides. Farmers use these
products and services to improve yields and quality of agricultural
crops. Other uses include public health, structural/urban pest control,
turf and ornamental plants. BASF aims to turn knowledge rapidly into
market success. The vision of BASF’s
Agricultural Products division is to be the world’s
leading innovator, optimizing agricultural production, improving
nutrition, and thus enhancing the quality of life for a growing world
population. Further information can be found on the web at www.agro.basf.com.
BASF is the world’s leading chemical company:
The Chemical Company. Its portfolio ranges from chemicals, plastics,
performance products, agricultural products and fine chemicals to crude
oil and natural gas. As a reliable partner to virtually all industries,
BASF’s intelligent system solutions and
high-value products help its customers to be more successful. BASF
develops new technologies and uses them to open up additional market
opportunities. It combines economic success with environmental
protection and social responsibility, thus contributing to a better
future. BASF has over 95,000 employees and posted sales of more than €42.7
billion in 2005. Further information on BASF is available on the
Internet at www.basf.com.
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 and license brand name, niche product lines from
larger companies that divest mature products to focus on newly
discovered molecules. American Vanguard is included on the Russell 2000®
and Russell® 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.
American Vanguard Corporation (NYSE: AVD) and BASF
Aktiengesellschaft, Ludwigshafen, Germany (NYSE:BF) today announced
that BASF sold the global Counter insecticide product line and the
Lock 'n Load(R) closed delivery system to AMVAC Chemical Corporation,
a subsidiary of American Vanguard. The Counter product line consists
of the active ingredient Terbufos, the trademark Counter, the
manufacturing and formulation know-how, registration rights,
intellectual property rights and inventories.
Counter generated sales of approximately $25 million in 2005.
First introduced in 1974, it is a systemic insecticide-nematicide
registered in more than 20 countries, with the main markets in North
and Latin America. It is used on agricultural crops, mainly corn,
bananas sugar beets and coffee to protect against various insect
pests.
Lock 'n Load is a patented, closed delivery system for granular
products that was first marketed in the late eighties. Currently
Counter and Phorate, a product AMVAC acquired from BASF in 2005, are
marketed in Lock 'n Load. Bayer CropScience LLP has licensed this
technology and is marketing their Aldicarb and Ethoprop products in
Lock 'n Load in the USA.
Eric Wintemute, President and CEO of American Vanguard, stated,
"This acquisition is our largest to date, and brings a complementary
product line and delivery system to American Vanguard. Counter
strongly complements the Thimet(R) (Phorate) insecticide business we
acquired from BASF in November of last year. We have been very pleased
with Thimet's performance over the last year and are enthusiastic
about the prospects for Counter, which we will begin selling
immediately. This acquisition reflects the continued execution of our
growth strategy to acquire and license niche product lines from larger
companies in our industry. Additionally, the Lock 'n Load closed
delivery system offers terrific synergies with our SmartBox(R)
delivery system, and we are quickly emerging as a leading owner and
provider of safe granular delivery technology."
Mike Heinz, President of the BASF Agricultural Products division,
stated, "This divestiture reflects our ongoing review of BASF's
Agricultural Products portfolio. Like Thimet, Counter offers limited
synergy for BASF, and is a better strategic fit for AMVAC. This is
also the case with the Lock 'n Load system, which pairs well with
AMVAC's SmartBox."
Glen Johnson, Senior Vice President of AMVAC, added, "Counter
brings to the market a product with unique features such as systemic
activity, along with the ability to control nematodes in high value
crops such as bananas, sugarbeets and coffee. The addition of Counter
to our product line will be a significant contributor to our
international business. This product will allow us to strengthen our
network with distributors in specialty crops in Latin America, Africa
and Asia Pacific where we have recently experienced significant growth
with our other products. We are extremely excited about this
acquisition and we see advantages in marketing Counter not only in
Lock 'n Load but also in our SmartBox equipment."
About BASF
With sales of EUR 3,298 million in 2005, BASF's Agricultural
Products division is a leader in crop protection and a strong partner
to the farming industry providing well-established and innovative
fungicides, insecticides and herbicides. Farmers use these products
and services to improve yields and quality of agricultural crops.
Other uses include public health, structural/urban pest control, turf
and ornamental plants. BASF aims to turn knowledge rapidly into market
success. The vision of BASF's Agricultural Products division is to be
the world's leading innovator, optimizing agricultural production,
improving nutrition, and thus enhancing the quality of life for a
growing world population. Further information can be found on the web
at www.agro.basf.com.
BASF is the world's leading chemical company: The Chemical
Company. Its portfolio ranges from chemicals, plastics, performance
products, agricultural products and fine chemicals to crude oil and
natural gas. As a reliable partner to virtually all industries, BASF's
intelligent system solutions and high-value products help its
customers to be more successful. BASF develops new technologies and
uses them to open up additional market opportunities. It combines
economic success with environmental protection and social
responsibility, thus contributing to a better future. BASF has over
95,000 employees and posted sales of more than EUR 42.7 billion in
2005. Further information on BASF is available on the Internet at
www.basf.com.
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
and license brand name, niche product lines from larger companies that
divest mature products to focus on newly discovered molecules.
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.