0
Home
News
Directory
E-newsletter
Magazine
Events
Data
AgReport
Subscribe
Amvac/Aceto settle over phorate
May. 22, 2008
US agrochemical company American Vanguard (Amvac - Los Angeles, California) has acquired the phorate insecticide business of Aceto (Lake Success, New York). The acquisition was made in connection with the settlement of litigation over the use of the insecticide with the EZ Load closed delivery system. Details of the transaction were not disclosed.
The assets purchased by Amvac include registrations, data, know-how and certain product inventories. Amvac acquired BASF’s global phorate business in 2005. The insecticide is used on a range of crops, including potatoes, maize, cotton, rice and sugar cane. Amvac acknowledges the “commendable job” done by Aceto to develop niche markets for generic phorate, particularly on peanuts. “We look forward to expanding our presence and serving customers in those markets,” says Amvac’s president and CEO, Eric Wintemute.
Aceto sees the disposal of the product as being “in the best interests of the company and its shareholders”, says the company’s chairman, president and CEO, Leonard Schwartz. Aceto concluded that it would be a better use of its resources to direct efforts to “newer products that have significant potential growth possibilities”.
Amvac has been selling phorate under the Thimet brand through the Lock ‘n Load closed delivery system that it acquired from BASF and through the EZ Load system that it bought from Platte Chemical. In May 2007, Aceto filed a lawsuit against Amvac claiming antitrust violations over the purchase of the EZ Load patent. Aceto was selling phorate through the EZ Load system under a licence that ran until August 1st 2007. In December, Aceto’s request for an injunction against Amvac was denied and it filed an appeal.
On May 1st 2008, Amvac filed a counter suit against Aceto, claiming that Aceto had infringed Amvac’s patent and trade mark for EZ Load by selling phorate through the system after August 1st 2007. Amvac obtained a temporary restraining order prohibiting further sales and sought a preliminary injunction over its patent infringement claim. The two parties subsequently settled the dispute, with Amvac taking over Aceto’s phorate business.
Source: Amvac
More from AgroNews
Change
Hot TopicSubscribe
| Subscribe Email: | * | |
| Name: | ||
| Mobile Number: | ||
Comment
0/1200
NEWSLETTER