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TyraTech Inc Announces Formation Of New Joint Venture With American Vanguard Corporation's Subsidiary


Tuesday, 4 Dec 2012 02:00am EST 

TyraTech Inc announced that the Company has entered into a License Agreement and Joint Venture Agreement (together the Agreements) with Amvac Chemical Corporation (AMVAC), a wholly owned subsidiary of American Vanguard Corporation. The Agreements create a joint venture to develop and commercialise existing and new pesticide products featuring TyraTech's Nature's Technology, which harnesses the synergy of natural ingredients to deliver products with levels of efficacy and safety. Under the terms of the Agreements, TyraTech will receive upfront licensing fee as well as annual license payments for a period of ten years. The Joint Venture is jointly owned by AMVAC and TyraTech, with AMVAC owning a majority interest. The formation of this Joint Venture will ensure that the Company's insect control products are well funded for the foreseeable future. The Joint Venture will develop and commercialise pesticide technologies and products for the global consumer household and lawn and garden retail markets. Additionally, it will develop and commercialise technologies and products in global commercial, institutional, professional, crop protection and seed treatment markets. Using TyraTech's Extend Technology, the Joint Venture will also develop new combinations with synthetic compounds to create solutions with improved efficacy and environmental impact on a range of crops. 

Company Quote

8.49
-0.5 -5.80%
8:38am EDT