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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Phibro Animal S | LSE:PAHC | London | Ordinary Share | COM SHS USD0.0001 (REGS) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.225 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPAHC RNS Number : 3561A Phibro Animal Health Corporation 07 October 2009 PHIBRO ANIMAL HEALTH CORPORATION DIVESTS ITS WOOD PRESERVATIVE BUSINESS RIDGEFIELD PARK, New Jersey, 7 October 2009 - Phibro Animal Health Corporation ("PAHC" or the "Company") today announced the sale of its wood preservative business to Osmose, Inc. The Company operated the business as part of its Performance Products Group through its PhibroWood subsidiary, and sold its leading wood preservative product under the SUSTAIN brand. The sale included the assets used in the business, including patents, patent applications, trademarks and trade names, and certain manufacturing equipment and inventories. The transaction also included the settlement of certain ongoing intellectual property disputes between the parties. The Company anticipates it will record a gain on the divestiture. The sale price was $37.5 million in cash, plus certain payments in respect of working capital. The Company expects to utilize the proceeds to reduce amounts outstanding under its domestic senior credit facility, to fund its operating plan and for general corporate purposes. We want to recognize and thank our PhibroWood team who, through their contributions in the marketplace, in the laboratory and in manufacturing, played a significant part in the industry's embrace of next generation wood preservative products," commented Dani Bendheim, President of Performance Products. About The Company PAHC is a diversified global developer, manufacturer and marketer of a broad range of animal health and nutrition products to the poultry, swine, cattle and acquaculture markets. PAHC is also a manufacturer and marketer of performance products for the ethanol, and personal care industries. For more information, please visit www.pahc.com. For further information please contact: +---------------------------------------------------------------+-----------------------------------+ | Phibro Animal Health Corporation | +1 201 329 7300 | | Richard Johnson, Chief Financial Officer | | | investor.relations@pahc.com | | +---------------------------------------------------------------+-----------------------------------+ | | | +---------------------------------------------------------------+-----------------------------------+ | Panmure Gordon (UK) Limited | +44 (0) 207 459 3600 | | Andrew Godber | | | Rakesh Sharma | | | | | +---------------------------------------------------------------+-----------------------------------+ FORWARD-LOOKING STATEMENTS This announcement contains forward-looking statements, including statements regarding management's expectations and beliefs regarding the future results or performance of the Company. Because these statements apply to future events, they are subject to risks and uncertainties. When used in this announcement, the words "anticipate," "believe," "estimate," "expect," "expectation," "project," "intend" and similar expressions are intended to identify such forward-looking statements. Our actual results could differ materially from those projected in the forward-looking statements. Additionally, you should not consider past results to be an indication of our future performance. We do not intend to update any of the forward-looking statements after the date of this announcement to conform these statements to actual results, to changes in management's expectations or otherwise, except as may be required by law. This information is provided by RNS The company news service from the London Stock Exchange END DISUUGQAUUPBGRQ
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