PAHC Phibro Animal S

 

TIDMPAHC 
 
RNS Number : 3561A 
Phibro Animal Health Corporation 
07 October 2009 
 

 
 
PHIBRO ANIMAL HEALTH CORPORATION 
DIVESTS ITS WOOD PRESERVATIVE BUSINESS 
 
 
 
 
RIDGEFIELD PARK, New Jersey, 7 October 2009 - Phibro Animal Health Corporation 
("PAHC" or the "Company") today announced the sale of its wood 
preservative business to Osmose, Inc. The Company operated the business as part 
of its Performance Products Group through its PhibroWood subsidiary, and sold 
its leading wood preservative product under the SUSTAIN  brand. 
 
 
The sale included the assets used in the business, including patents, patent 
applications, trademarks and trade names, and certain manufacturing equipment 
and inventories.  The transaction also included the settlement of certain 
ongoing intellectual property disputes between the parties.  The Company 
anticipates it will record a gain on the divestiture. 
 
 
The sale price was $37.5 million in cash, plus certain payments in respect of 
working capital. The Company expects to utilize the proceeds to reduce amounts 
outstanding under its domestic senior credit facility, to fund its operating 
plan and for general corporate purposes. 
 
 
We want to recognize and thank our PhibroWood team who, through their 
contributions in the marketplace, in the laboratory and in manufacturing, played 
a significant part in the industry's embrace of next generation wood 
preservative products," commented Dani Bendheim, President of Performance 
Products. 
 
 
About The Company 
PAHC is a diversified global developer, manufacturer and marketer of a broad 
range of animal health and nutrition products to the poultry, swine, cattle and 
acquaculture markets. PAHC is also a manufacturer and marketer of performance 
products for the ethanol, and personal care industries. For more information, 
please visit www.pahc.com. 
 
 
For further information please contact: 
 
 
+---------------------------------------------------------------+-----------------------------------+ 
| Phibro Animal Health Corporation                              | +1 201 329 7300                   | 
| Richard Johnson, Chief Financial Officer                      |                                   | 
| investor.relations@pahc.com                                   |                                   | 
+---------------------------------------------------------------+-----------------------------------+ 
|                                                               |                                   | 
+---------------------------------------------------------------+-----------------------------------+ 
| Panmure Gordon (UK) Limited                                   | +44 (0) 207 459 3600              | 
| Andrew Godber                                                 |                                   | 
| Rakesh Sharma                                                 |                                   | 
|                                                               |                                   | 
+---------------------------------------------------------------+-----------------------------------+ 
 
 
 
FORWARD-LOOKING STATEMENTS 
This announcement contains forward-looking statements, including statements 
regarding management's expectations and beliefs regarding the future results or 
performance of the Company. Because these statements apply to future events, 
they are subject to risks and uncertainties. When used in this announcement, the 
words "anticipate," "believe," "estimate," "expect," "expectation," "project," 
"intend" and similar expressions are intended to identify such forward-looking 
statements. Our actual results could differ materially from those projected in 
the forward-looking statements. Additionally, you should not consider past 
results to be an indication of our future performance. We do not intend to 
update any of the forward-looking statements after the date of this announcement 
to conform these statements to actual results, to changes in management's 
expectations or otherwise, except as may be required by law. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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