PHC and Arysta LifeScience Terminate Agreement

RNS Number : 9951G

Plant Health Care PLC

30 November 2015

 

Plant Health Care and Arysta LifeScience Announce Termination of Combination Products Agreement

Raleigh / Cary, NC, November 30, 2015.  Plant Health Care, Inc., a leading supplier of novel patent-protected biological products, and Arysta LifeScience, a leading crop protection and life science company, have mutually agreed to terminate the product development and license agreement enabling Arysta LifeScience to sell combination products containing Plant Health Care's Harpin

𝜶β protein technology combined with Arysta LifeScience's crop protection products in the U.S. row crop market.

Challenging conditions in agricultural markets driven by weak crop prices, especially in row crops, coupled with focus on the organizational merger of Chemtura AgroSolutions, Agriphar and Arysta LifeScience contributed to an unsuccessful launch of the first combination product under the agreement. 

Plant Health Care will now have enhanced flexibility to deploy their resources toward opportunities in high-value specialty crops while accessing row crop markets in the U.S. with Harpin 𝜶β as both a straight product and in combination with mixture partners.  Arysta LifeScience, now owned by Platform Specialty Products, will continue to offer a range of crop protection products including fungicides for both seed treatment and foliar application in row crop markets. 

The companies continue to work together to bring Plant Health Care's technology to market in Brazil through foliar applications on sugarcane and to seek other opportunities for global collaboration.

About Plant Health Care:  Plant Health Care is a leading provider of novel patent-protected biological products to the global agriculture markets.  In this way, Plant Health Care is capitalising on long-term trends toward natural systems and biological products for plant care and soil and water management.  The Company's ordinary shares have been quoted on the AIM market of the London Stock Exchange since July 2004 (ticker symbol: PHC).  More information on the company is available at www.planthealthcare.com   

About Arysta LifeScience Limited

Arysta LifeScience, now owned by Platform Specialty Products, is a leading crop protection and life science company with 2014 revenues of US $2.2 billion. An entrepreneurial provider of crop protection and life science products in more than 125 countries worldwide, Arysta LifeScience specializes in marketing and distribution of respected crop protection brands and life science products that meet the needs of its global partners. More information on the company is available at www.arystalifescience.com.  

For further information, please contact:

Plant Health Care plc

Jeff Tweedy, Head of Commercial Operations                 Tel: [phone]

Arysta LifeScience Linda Frerichs, Global & North America Communications   Tel: [phone]

 

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