Newport Beach, California, USA
November 2, 2015
American Vanguard Corporation (NYSE:AVD), today announced that its wholly-owned subsidiary, Amvac Chemical Corporation, has licensed Scepter-based herbicide products from BASF Corporation for use in the United States and its territories. Scepter, is a broad-spectrum herbicide that can be used for both pre-emergence and post-emergence control of broadleaf weeds in soybeans. Other Scepter-based formulations can be used as selective post-emergence herbicides that provide superior control of many hard-to-control weeds in turf applications.
The licensing agreement includes transfer of EPA end-use registrations & labels, purchase of technical product inventory, license to the Scepter trademark and formulation know-how. Other terms of the transaction were not released.
Eric Wintemute, Chairman and CEO of American Vanguard, stated: “We are very pleased to add the Scepter-based product line to our existing portfolio. Scepter will broaden our row crop capabilities by allowing us to participate in the soybean market, which has been a strategic objective of ours in recent years. Other Scepter-based products will enhance our offerings for turf applications in the non-crop segment of our business. We see significant additional opportunities on the horizon to acquire, license or co-market similar proven, branded products and American Vanguard is positioned to capitalize on that potential.”
Bob Trogele, Chief Operating Officer of Amvac Chemical commented: “It is clear that with our recent focused product additions from DuPont, Adama and now BASF, Amvac is extending its market access in strategic crop segments and global geographic regions. We are confident that Amvac can increase the market penetration of these products by creating new added value formulations and by providing a broader herbicide offering that expands our current customer base. We continue to seek products, technologies and business alliances that can strengthen our Yield Enhancing Solutions umbrella brand for crop protection and complement our initiatives in precision planting equipment application systems.”
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