American Vanguard Corp., the Newport Beach-based insecticide and agricultural products company, announced today that it exercised its option to acquire one of German chemical giant BASF Corp.’s plants in Hannibal, Mo. Financial details were not disclosed.
The plant manufactures Phorate and Counter, two of American Vanguard’s insecticide products. American Vanguard said the plant acquisition, will significantly increase the company’s manufacturing capacity of organophosphates — organic compounds containing phosphorus that are often used as fertilizers and pesticides.
The acquisition is expected to close by the end of the year.
