Arysta LifeScience Acquires South African BioSolutions Business
CARY, N.C., June 05, 2017 (GLOBE NEWSWIRE) -- Arysta LifeScience, a Platform Specialty Products company (NYSE:PAH), announced today it has acquired the business assets of Verios Agro Pty Ltd and Veriprod Pty Ltd (collectively, "Verios"). Founded in 2005, Verios is a South African biosolutions provider, specializing in the development and distribution of microbial and micronutrient-based biostimulants and innovative nutrition products for use in agriculture to support crop health and stimulate growth.
"We are very excited to combine Verios with our existing business," said Diego Lopez Casanello, President, Arysta LifeScience. "With this step, we add an innovative microbial technology platform to our biosolutions business that has growth potential both within South Africa as well as in other regions of the world."
"Arysta LifeScience is committed to strengthening its leadership in biosolutions around the world," Casanello added. "We will continue to evaluate opportunities in this exciting, high-growth market as a key pillar of our strategy."
"We are looking forward to joining Arysta LifeScience and continuing to execute our vision," said Daniel Marais, General Manager, Verios. "We believe our two businesses are highly complementary, and we are excited about the potential of our combined offering."
This press release contains "forward-looking statements" within the meaning of the federal securities laws, which include statements regarding the future growth of Arysta LifeScience's biosolutions business in different regions of the world and Arysta LifeScience's future opportunities in the biosolutions market. These statements are based on Arysta LifeScience management's estimates and assumptions with respect to future events and financial performance, and are believed to be reasonable, though are inherently difficult to predict. Actual results could differ materially from those projected as a result of certain factors. A discussion of factors that could cause results to vary is included in Platform's periodic and other reports filed with the Securities and Exchange Commission. Arysta LifeScience or Platform undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
About Arysta LifeScience
Arysta LifeScience is a global agricultural company specializing in the marketing and distribution of innovative crop protection and life science brands. With more than 200 active ingredients, Arysta LifeScience has a well-integrated biological and chemical portfolio to provide complete solutions to growers. The company's wide range of offerings includes biosolutions, fungicides, herbicides, insecticides and seed treatments. Arysta LifeScience, which has more than 3,000 employees working in 60 countries to serve customers worldwide, had 2016 revenues of US$1.8 billion. Arysta LifeScience is owned by Platform Specialty Products Corporation (NYSE:PAH), a global innovator of technologically advanced specialty chemical products and provider of technical services (www.platformspecialtyproducts.com). For more information on Arysta LifeScience, visit www.arystalifescience.com.
Verios was founded in 2005 in Pretoria, South Africa, in response to increasing demand for alternative, environmentally-friendly crop solutions. The company focuses on the development, formulation, marketing, and distribution of microbial and micronutrient-based biosolutions. Its products are designed for agricultural use on a range of crops.
Investor Relations Contact: Carey Dorman Director - Corporate Development Platform Specialty Products Corporation 1-561-406-8465