Sign In
2 Jun 2009 07:00
Embargoed for release: 7am, 2 June 2009
Plant Health Care plc
("Plant Health Care" or "the Company")
MONSANTO FURTHER INCREASES HARPIN ORDER
Further to its announcement of 2 April 2009, Plant Health Care plc (AIM: PHC) announces that its wholly-owned subsidiary, Plant Health Care Inc, has received from Monsanto a further order for its harpin seed treatment which significantly increases the overall quantity for the 2010 growing season. The total size of the orders which have now been received by Plant Health Care far exceed the top of its range of expectations for the first year of its long term agreement with Monsanto.
Under the agreement, Plant Health Care has licensed to Monsanto the exclusive rights to commercialise harpin seed treatment technology in corn, soybeans, cotton, canola and selected vegetables. In return, Plant Health Care will receive ongoing fees based on the total volume of harpin ordered.
Commenting on the increased order, John Brady, CEO of Plant Health Care said, "We are delighted that Monsanto has again increased its order, another validation of our outstanding technology. This underlines both Monsanto's commitment to our commericalisation agreement and the demand for our effective natural treatments."
He added, "According to the US Department of Agriculture Prospective Planting report, the crop varieties covered by our agreement with Monsanto will this year be planted on over 170 million acres in the US alone. It is clear that the potential value of our agreement is very significant and these early signs are particularly encouraging."
For further information, please contact:
|
Plant Health Care plc |
|
|
John Brady, Chief Executive Officer |
|
|
Tel: +1-603-525-3702 |
|
|
jabrady@planthealthcare.com |
|
Evolution Securities |
Tavistock Communications |
|
Tim Worlledge / Tim Redfern |
Jeremy Carey/Matt Ridsdale |
|
Tel: +44-20-7071-4300 |
Tel: +44-20-7920-3150 |
|
tim.worlledge@evosecuties.com tim.redfern@evosecuties.com |
jcarey@tavistock.co.uk mridsdale@tavistock.co.uk |
About Plant Health Care plc: Plant Health Care plc ("PHC") is a leading provider of natural products for plants and soil. Established in 1995 in Pittsburgh (Pennsylvania) in the United States, PHC currently has approximately 90 employees and has operations in the United States, Mexico, the United Kingdom, Spain, and the Netherlands. The Company listed on the AIM market of the London Stock Exchange in July 2004. Ticker symbol is PHC.
PHC's products are aimed at the agriculture and landscape industries and are environmentally beneficial. Through the commercialisation of these products, PHC is capitalising on current long-term trends toward natural systems and biological products for plant care and soil and water management. Further information is available at: www.planthealthcare.com
Follow the stocks
