American Vanguard Announces EPA Registration of SmartBlock
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http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130211:nBw115321a Breakthrough Green Technology for Preserving Potatoes during Storage NEWPORT BEACH, Calif.--(Business Wire)-- American Vanguard Corporation (NYSE:AVD) announced that its wholly owned subsidiary, AMVAC Chemical Corporation (AMVAC), has received registration from the Environmental Protection Agency (EPA) for SmartBlock®, a novel potato sprout inhibitor. Additionally, Canadian and European registrations have been filed and these approvals are progressing on schedule. SmartBlock features a patented new class of potato sprout inhibitor technology that represents a breakthrough approach in the treatment of post-harvest potatoes. The product is a naturally occurring molecule, an FDA-approved direct food additive and is classified by the EPA as a biopesticide. It offers safe, comprehensive long-term storage control and requires no capital investment by customers since it is easily applied using existing equipment. AMVAC will begin marketing SmartBlock in the United States immediately. Eric Wintemute, Chairman and Chief Executive Officer of American Vanguard commented: "The registration of SmartBlock expands AMVAC`s potato product portfolio, with offerings from pre-planting through post-harvest storage. It enables potato storage managers to utilize a novel, efficacious and green product for sprout control. We anticipate this new approach will be widely embraced by grocery chains, restaurants and consumer food processors." Glen Johnson, Senior Vice-President of AMVAC commented: "This technology was discovered by researchers at Washington State University (WSU) and has been developed and tested by AMVAC for over seven years. It is the first commercial offering to emerge from our new product development pipeline which serves as a channel for innovative technologies from numerous university and industry sources. We expect that our development of new technologies will contribute meaningfully to AMVAC`s future growth in agricultural and specialty pest control markets." Anson Fatland, Director of the WSU`s Intellectual Property office said, "We are very pleased to have partnered with AMVAC on the SmartBlock technology. As a result of this very productive and collaborative research relationship, additional intellectual property was developed which resulted in worldwide patent protection." Eric Wintemute concluded: "After the United States launch, we believe there are significant additional opportunities for SmartBlock internationally based on its excellent performance and cost effectiveness. Developing and commercializing such significant new products is part of our commitment to deliver Yield Enhancement Solutions worldwide that improve the production of food, fiber and biofuels." 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. American Vanguard is included on the Russell 2000 & Russell 3000 Indexes and the Standard & Poors Small Cap 600 Index. To learn more about American Vanguard, please reference the Company`s web site at www.american-vanguard.com. The Company, 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 the Company`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 the Company`s SEC reports and filings. All forward-looking statements, if any, in this release represent the Company`s judgment as of the date of this release. American Vanguard Corporation William A. Kuser, 949-260-1200 Director of Investor Relations email@example.com or AVD`S INVESTOR RELATIONS FIRM The Equity Group Inc. Lena Cati, 212-836-9611 Lcati@equityny.com www.theequitygroup.com Copyright Business Wire 2013