London, United Kingdom
April 20, 2010
Plant Health Care Inc, a wholly owned subsidiary of Plant Health Care plc (AIM: PHC), and Plant Foods, Inc. (“Plant Foods”), a large regional manufacturer of water soluble fertilizers, of Vero Beach Florida, have entered into an agreement whereby Plant Foods will be the exclusive manufacturer and marketer of Harp-N-Tek® foliar fertiliser products into the fruit and vegetable markets in the southeastern United States.
Under the agreement, Plant Health Care granted Plant Foods the exclusive marketing rights to the Harp-N-Tek brand fertiliser in the following states: Alabama, Florida, Georgia, Kentucky, North Carolina, South Carolina, Virginia, and West Virginia.
Harp-N-Tek fertiliser contains Plant Health Care’s proprietary Harpin protein technology, which, is a specific type of protein that activates a plant’s intrinsic ability to protect itself while simultaneously enhancing plant growth and yield. Financial terms were not disclosed, however, Plant Health Care does not expect the agreement to make a material contribution to the Company’s revenue and profits until the 2011 planting seasons.
M. J. Connelly, President of Plant Foods said: “Plant Foods has operated an EPA-registered manufacturing facility for Harp-N-Tek for many years, and has almost 50 years experience manufacturing and selling high quality custom blended water-soluble fertilisers. We are very pleased to be adding Harp-N-Tek fertilisers to the Plant Foods sales portfolio. With years of manufacturing experience and first-hand observations of the plant health benefits realised in fruits and vegetables treated with Harpin products, we have become strong advocates for the technology.”
John Brady, CEO of Plant Health Care said: “This agreement represents another important step in Plant Health Care’s continued commercialisation of Harpin technology through strategic partnerships. Plant Foods has a long association with our Harpin product line and will provide immediate access to the foliar fertiliser market in this important vegetable and fruit region of the US. We are excited about the exposure and opportunity that a quality company like Plant Foods will provide our product line.”
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