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AMVAC® and NewLeaf Symbiotics® Partner to Bring Biological Solutions to North American Crop Markets
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
American Vanguard Corporation (NYSE: AVD) has partnered with NewLeaf Symbiotics to enhance its GreenSolutions™ biological product portfolio for the North American crop market starting in 2023. This collaboration will leverage the strengths of both companies to expand current product applications and foster new product development. AMVAC recently achieved a milestone of over 1.2 million acres applied with its GreenSolutions, marking significant growth in the biologicals segment. The partnership aims to improve market penetration and provide innovative solutions for North American farmers.
Positive
Partnership with NewLeaf Symbiotics enhances product portfolio.
AMVAC reached 1.2 million acres of GreenSolutions application, indicating growth.
Access to NewLeaf's microbial library and R&D capabilities.
Negative
None.
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--
American Vanguard® Corporation (NYSE: AVD), through its wholly owned subsidiary AMVAC Chemical Corporation, is pleased to announce a new partnership with NewLeaf Symbiotics® of St. Louis, Missouri to bring innovative biologicals solutions to the North American crop market beginning in 2023. This collaboration will harness the complementary marketing and operational strengths of each partner to expand the application of existing products and advance the development of future products utilizing the combined technical resources of both companies. This partnership will expand and accelerate American Vanguard’s growing GreenSolutions™ biological portfolio and facilitate NewLeaf Symbiotics’ objective of securing wider market penetration.
AMVAC will leverage its deep market access, strong sales teams in U.S. crop markets, and growing portfolio of GreenSolutions™ biologicals. In the U.S. AMVAC’s GreenSolutions recently passed the 1.2-million-acre mark for application, a milestone for the company in the fast-growing biologicals segment. AMVAC previously has announced biologicals-related partnerships with 3Bar Biologics, BASF, and Azotic North America.
NewLeaf Symbiotics brings to the partnership its proprietary microbial library, proven research and development capabilities and its current product offering including naturally occurring microbes that deliver a range of benefits to crops throughout the entire growing season. Leading this new class of ag biologicals is Terrasym® microbial inoculants, which can make crops stronger, more resilient, and more tolerant of abiotic stress throughout their life cycle.
“GreenSolutions and AMVAC’s precision application technologies are key strategic growth initiatives built on the strong foundation of a highly successful, five-decade crop protection chemistry business” said Bob Trogele, COO and Executive Vice President, AMVAC. “AMVAC continues to innovate using its own internal research capabilities as well as establishing partnerships with leading biological companies. With NewLeaf Symbiotics, we look forward to enhancing access to value-added biologicals that benefit North American farmers.”
Steve Kahn, CEO of NewLeaf Symbiotics, said, “AMVAC brings to the partnership longstanding access to the North American markets which is key to the growth of the ag biologicals sector. NewLeaf Symbiotics, as a major player in biologicals, is eager to broaden its North American market penetration through its partnership with AMVAC. Longer term, we look forward to finding additional synergies among the technologies and product lines of both our companies.”
About NewLeaf Symbiotics
NewLeaf Symbiotics is an agricultural biologicals company that discovers, develops, produces, and commercializes products containing beneficial plant microbes. Its team has grown to 35+ members including 12 PhD scientists. NewLeaf has filed over 150 patents and patent applications and introduced its first biostimulant products in the US for corn and soy, Terrasym 450 and Terrasym 401. www.newleafsym.com
About American Vanguard American Vanguard Corporation is a diversified specialty and agricultural products company that develops and markets products for crop protection, turf and ornamentals management, and public safety applications. American Vanguard is included on the Russell 2000® & Russell 3000® Indexes and the Standard & Poors® Small Cap 600 Index. AMVAC® is a subsidiary of American Vanguard® Corporation.
The Company, from time to time, may discuss forward-looking information. Such forward-looking statements are estimates by the Company’s management and are subject to various risks and uncertainties that may cause results to differ from management’s current expectations. Such factors are detailed in the Company’s SEC reports and filings. All forward-looking statements represent the Company’s judgment as of the date of this release.
For additional information on products and services visit www.AMVAC.com.
William Kuser Director of Investor Relations
American Vanguard Corporation williamk@amvac.com
David Flack Vice President Business Development
NewLeaf Symbiotics
dflack@newleafsym.com
Source: American Vanguard® Corporation
FAQ
What is the new partnership announced by AVD?
American Vanguard Corporation announced a partnership with NewLeaf Symbiotics to enhance biological product offerings in the North American crop market.
When will the partnership between AVD and NewLeaf Symbiotics begin?
The partnership is set to begin in 2023.
What milestone has AMVAC achieved with its GreenSolutions?
AMVAC has surpassed 1.2 million acres applied with its GreenSolutions biological products.
How will the AVD and NewLeaf partnership benefit farmers?
The partnership aims to provide innovative biological solutions that enhance crop resilience and performance, benefiting North American farmers.
What are GreenSolutions by AVD?
GreenSolutions are a line of biological products developed by American Vanguard Corporation, focusing on sustainable agricultural practices.
