BASF Sells Plant
American Vanguard Corp. has purchased one of BASF Corp.'s insecticide plants in Hannibal, MO.
November 7, 2007
American Vanguard Corp. has purchased one of BASF Corp.'s insecticide plants in Hannibal, MO. The plant manufactures two of American Vanguard's key insecticide products, Phorate and Counter. Sales of these two products are expected to grow, according to the company.
"We are pleased to be taking ownership of these extremely valuable production assets," says Eric Wintemute, CEO of American Vanguard. "The Midwest location will provide us with significant operational and logistical benefits as we continue to expand our participation in the U.S. corn market."
The deal is expected to close by the end of the year, and will increase the company's organophosphate manufacturing capacity.