American Vanguard Buying Herbicide
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American Vanguard Corp. said on Monday that its Amvac Chemical Corp. subsidiary has bought the Dacthal herbicide business from a British firm’s unit for an undisclosed price.
The Newport Beach maker of products to protect crops said in a news release that it bought the business from GBB Biosciences Corp., an affiliate of AstraZeneca PLC in London.
Dacthal is used as weed control on such crops as onions, garlic, cauliflower, cotton and strawberries.
American Vanguard said Amvac will begin selling the weed killer this autumn, subject to registration approvals. Amvac expects the acquired business to have a “significant impact” on its financial results beginning next year.
American Vanguard’s shares lost 13 cents Monday to close at $8.63 a share in light American Stock Exchange trading.
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