Last checked at 30 Oct 2014 07:00
October 30, 2014
PLANT HEALTH CARE, plc
Plant Health Care and Sipcam enter Development and Distribution Agreement
Plant Health Care (AIM: PHC), a leading provider of naturally derived agriculture products, announces that it has entered into a development and distribution agreement with Sipcam Italia S.P.A. Under the agreement, Sipcam will develop and market proprietary PHC technologies for use on certain crops in Italy.
Financial terms were not disclosed, although Plant Health Care believes the agreement will make a material contribution to the company's future revenue and profits.
Paul Schmidt, CEO at PHC, stated: "This agreement is further confirmation of the value of Plant Health Care's technology. We look forward to working closely with Sipcam to expand our participation in the European market."
Alberto Dezza, General Manager of Sipcam, commented: "This agreement with PHC is a further step towards Sipcam's goal of developing a range of market-leading "innovative fertilizers," particularly with biostimulant activity, which will expand Sipcam's reach across important categories in the European market."
About Plant Health Care, plc: Plant Health Care, plc ("PHC") is a leading provider of naturally derived products for plants and soil. The Company's ordinary shares have been quoted on the Alternative Investment Market ("AIM") of the London Stock Exchange since July 2004. PHC's products improve agricultural production in an environmentally sustainable manner. 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.
About Sipcam Italia S.P.A.: Sipcam Italia belongs to Sipcam-Oxon group that works in the synthesis, formulation and commercialization of active ingredients and chemical intermediates. The group has also developed the production and marketing of innovative fertilizers and, more recently, processing and sales of seeds. In Italy, the company operates (since 1946) with an extended technical and sales organization with more than 70 people in the marketplace. The net sales of 72 M€ include agrochemicals mainly originated by several Japanese partners and by Oxon, but also a patented range of microgranulated starter fertilizers. Sipcam Italy owns an experimental center where a team of agronomists tests and develops new products in particular "biostimulants", confirming and improving the efficacy and the environmental compatibility, thus attributing to them an interesting potential for the future.
Website: www.sipcamitalia.it
For further information please contact:
Plant Health Care, plc | |
Paul Schmidt, Chief Executive Officer | Tel: +1-919-926-1600 |
Jeff Hovey, Finance Director | |
Liberum Capital Limited | Tel: +44 (0) 20 3100 2000 |
Clayton Bush / Steven Tredget | |
Powerscourt | Tel: +44 (0) 20 7250 1446 |
Sophie Moate / Tessa Berry |