01 February 2012
Plant Health Care plc
PLANT HEALTH CARE ANNOUNCES DISTRIBUTION DEAL WITH AGRIUM SUBSIDIARY
Plant Health Care (AIM: PHC), a leading provider of naturally derived products to the agriculture and horticulture industries, announces that it has signed an exclusive, multi-year agreement with ASP-Chile ("ASP"), a wholly owned subsidiary of Agrium Inc, one of North America's largest fertilizer manufacturers that supplies North and South America and Australia with all of the major agriculture nutrients. No financial details are disclosed.
Plant Health Care will supply ASP with its Myconate and Harpin products for use on all crops in Chile. Harpin will be marketed for all foliar uses while Myconate may be applied by seed treatment or ground application. Plant Health Care will work with ASP whilst it tests the products in order for them to be registered in Chile, after which the products can be available for sale, expected to begin within the next two years.
Chile is an important agricultural producer with more than six million acres under production and it is a major supplier of off-season produce to Europe and North America. ASP is one of Chile's leading providers of chemicals and specialty nutrients for agriculture. This deal marks a significant milestone in that it represents the first time in the South American market that Plant Health Care has entered into a major supply agreement in which its products are able to be used on all crops.
Myconate is a patented, synthetic compound that encourages plant growth by stimulating existing mycorrhizal fungi in the soil and creating a bigger root mass. More than six years of successful field trials provide product efficacy with increased yields, during tests, of up to 30% depending upon crop and location. Plant Health Care's aim is that that Myconate will become a standard element of farmer's seeding and nutrition programmes on a global basis.
Harpin is a patented, specific protein that activates a plant's innate ability to protect itself and, at the same time, enhances growth and yield. In addition, the technology offers an important range of post-harvest benefits such as improved fruit quality and extended shelf-life. This is an important factor in Chile which has to ship fresh produce over long distances to reach important markets.
"This is an important breakthrough in our strategy to gain global market penetration for our products" said John Brady, CEO of Plant Health Care. "ASP Chile is a major player in its local market and this relationship is a significant stepping stone towards achieving further deals in the important agricultural countries of South America.
"We are convinced that our customers will benefit from this new cooperation," said Laura Etchegorry, General Manager of ASP Chile. "This partnership with Plant Health Care is an extension of the outstanding work that PHC developed in the United States. This cooperation enables ASP Chile to continue to provide to Chilean farmers, best solutions to make their businesses more profitable, clean and efficient".
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Notes to Editors
About Plant Health Care plc: Plant Health Care plc ("PHC") is a leading provider of naturally derived products for plants and soil. Established in 1995 in Pittsburgh (Pennsylvania) in the United States, PHC currently has approximately 40 employees and has operations in the United States, Mexico, the United Kingdom, Spain and the Netherlands.
The Company's ordinary shares have been quoted on the AIM Market of the London Stock Exchange since July 2004 and listed on the Official List of the Channel Islands Stock Exchange ("CISX") in February 2010 (ticker symbol/ mnemonic: 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.
Trademarks:
Myconate and Harpin are trademarks or trade names which Plant Health Care owns or which others own and license to Plant Health Care for use.
About ASP Chile:
ASP CHILE S.A. is one of the most important Chilean distributors of
the full range of crop protection products required by our customers
for efficient production of all major farm commodities in Chile. We
value our relationships with our vendors, who comprise a list of the
most respected basic manufacturers of crop protection products in the
world.
Owned by Agrium group, ASP CHILE S.A. conducts research and training
throughout the year to stay abreast of new and improved chemistry
available through modern crop protection products. The ASP Chile's
obligation to be familiar with the full range of products we offer so
that we can provide to our customers with accurate information on
their use, benefits and limitations.
Further information please visit: www.asp-chile.cl and www.agrium.com"
