American Vanguard International Subsidiary and Huifeng Agrochemical Company Ltd. Subsidiary Establish Agro-Technology Joint Venture
纽波特海滩，加利福尼亚州，美国;Dafeng City, Jiangsu Province, People’s Republic of China – August 2, 2016 – American Vanguard Corporation (NYSE:AVD) today announced that its International Subsidiary, AMVAC Netherlands BV, has joined with Chinese-based Huifeng Agrochemical Company, Ltd. Subsidiary Shanghai Focus Biological Technology Co., Ltd. to establish a technology R&D-focused joint venture based in Hong Kong. This enterprise,Huifeng AMVAC Innovation Co., Limited
将专注于co-o之间的技术转移吗wners, including the development of new, proprietary agrochemical formulations and precision application systems for crop protection.
Through a series of joint service agreements, Huifeng AMVAC Innovation Co., Limited will provide a platform for the co-owners to leverage each company’s technological capabilities. Additionally, each owner will benefit from the other party’s established market experience in their respective home territories. Such deep understanding of diverse market segments in Asia and the Americas provides the owners with an outstanding foundation for continued international success. The new venture is structured with each party owning 50% and it is expected that this entity will grow through additive technology investments in upcoming years. AMVAC's Asia President, Lawrence Yu, will assume overall responsibility for the company as the Managing Director supported by Ms. Li Ping as CFO.
Mr. Zhong Hangen
, President & Founder of Huifeng Agrochemical commented: “This venture will allow Huifeng to work closely with a very successful crop protection company that has considerable presence in the Americas market. AMVAC clearly has the skilled talent, manufacturing capabilities and product portfolio to contribute greatly to this partnership. With many tremendous growth opportunities globally, I look forward to seeing this venture expand and evolve with additional technology investments. I anticipate that incremental capital for a variety of promising precision application and proprietary chemical projects could justify additional funding of perhaps $50 million dollars over a period of years in the regional territories that will be served by this venture. We expect that such projects can proceed promptly and efficiently.”
是中国领先的农用化学品生产商。它在中国的注册和销售数百种产品，以及做委托生产的大型国际企业。它已被任命为中国领先的固定农药制造企业，也被列为国家火炬计划的重要高新技术企业。这是ISO9001：2000，ISO 14001和OHSAS 18001认证。这也是中国农药的领先的在线营销。江苏汇丰已在深交所自2010年要了解更多关于汇丰农化已经上市，请www.hfagro.com参考公司网站。
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®
Indexes as well as the S&P Small Cap 600 Index. To learn more about American Vanguard, please reference the Company’s web site atwww.亚博娱乐官网amvac-chemical.com
American Vanguard Corporation
William A. Kuser, Director of Investor Relations
The Equity Group Inc.
Regarding forward-looking information: All forward-looking statements contained in this release are estimates by the Company’s management. Such statements are subject to various risks and uncertainties that may cause results and outcomes to differ from management’s current expectations. Such factors and risks are detailed in the Company’s SEC reports and filings. Any forward-looking statements contained herein represent the Company’s best judgment as of the date of this release.