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10-31-2007: American Vanguard Corp. announced that it has exercised an option to acquire one plant at BASF Corporation's Hannibal, MO site that manufactures two of American Vanguard's most important and promising insecticide products. This pertains to only one of the five plants at BASF's Hannibal site.
The Company anticipates growing sales of Phorate® (acquired in 2005) and Counter® (acquired in 2006) in coming years, and exercising the asset purchase option associated with those prior product acquisitions ensures the continuing supply of these high-quality insecticide products for use in a wide variety of agricultural applications. This acquisition, which is expected to close in late December 2007, will significantly increase American Vanguard's organophosphate manufacturing capacity.
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