Navigation Links
Neogen acquires Chem-Tech
Date:1/2/2014

LANSING, Mich., Jan. 2, 2014 /PRNewswire/ -- Neogen Corporation (NASDAQ: NEOG) announced today that it has acquired the stock of Chem-Tech Ltd., a manufacturer of insecticides for the animal and food industries. The 35-year-old company, which is wholly owned by Pat and Kelle Rolfes, operates an extensive manufacturing and distribution facility in Pleasantville, Iowa.

Chem-Tech's highly effective insecticides utilize environmentally friendly technical formulas, and several are approved for use in food establishments. The company's Prozap® insecticide brand is well known in the large animal production industry, and is particularly popular with dairy and equine producers. For a number of years, Neogen has shared the Prozap trademark with Chem-Tech, with Neogen using the brand for certain rodenticides.

"Over the past 10 years, Neogen has successfully built a biosecurity product line to help the producers of animal proteins ensure the safety of food inside the farm gate," said James Herbert, Neogen chief executive officer and chairman. "We had already built a strong line of cleaners, disinfectants, rodenticides and veterinary instruments, along with a small product offering for insect control. The Chem-Tech business will significantly add to Neogen's position of being the 'one-stop shop' for meat, milk and egg producers. Chem-Tech's Turbocide® products are also becoming popular for the fogging of food storage and warehouses."

The majority of Chem-Tech's customers and distributors are already Neogen customers, and most of them have long-term relationships with both companies.

"Chem-Tech has always been a family owned and managed company. It has grown on the basis of effective insect control, and at the same time meeting the high safety standards as established by the EPA," said Pat Rolfes, Chem-Tech's chief executive officer, who will continue with Neogen in a consulting capacity. "We have grown the business to a level that we felt it was best joined to a larger firm with more world-wide reach. We are very pleased to place our customers and products with the outstanding organization at Neogen."

"Chem-Tech fits the Neogen model of supplementing our organic growth with growth through acquisitions," said Dr. Jason Lilly, Neogen's vice president of corporate development. "Like many of our acquisitions, we will be able to consolidate administrative, sales, and research and development with our existing groups. We expect to continue to operate the company's manufacturing facility in Iowa along with significant portions of its warehousing and distribution."

Chem-Tech's revenues for the most recent 12 months exceeded $14 million. The purchase price includes contingent payment consideration. No additional financial details were disclosed.

Neogen Corporation develops and markets products dedicated to food and animal safety. The company's Food Safety Division markets dehydrated culture media, and diagnostic test kits to detect foodborne bacteria, natural toxins, food allergens, drug residues, plant diseases and sanitation concerns. Neogen's Animal Safety Division is a leader in the development of animal genomics along with the manufacturing and distribution of a variety of animal healthcare products, including diagnostics, pharmaceuticals, veterinary instruments, wound care, and cleaners and disinfectants.

CONTACT: Steven J. Quinlan, Vice President & CFO
Neogen Corporation, 517/372-9200


'/>"/>
SOURCE Neogen Corporation
Copyright©2012 PR Newswire.
All rights reserved

Related biology technology :

1. Neogen reports second quarter results
2. Neogen acquires Prima Tech
3. Neogen shares to be priced Oct. 31
4. Neogen shares begin post-split trading
5. Neogen reports 18% revenue increase
6. Neogen announces 1st quarter results conference call
7. Neogen launches comprehensive dairy heifer genomic test
8. Neogen announces Bohannon retirement, successor named
9. Neogen launches comprehensive cattle genomic test
10. Neogen reports 27% increase in quarterly net income
11. Neogen launches rapid tests for ractopamine
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/20/2017)... ... June 20, 2017 , ... Biologist Dawn Maslar MS has found a biomarker ... Men Chase, Women Choose: The Neuroscience of Meeting, Dating, Losing Your Mind, and Finding ... men. ”The logical next step, in my estimation, was to scientifically track the evidence ...
(Date:6/20/2017)... ... , ... Do More with OHAUS , With the launch of the new ... weighing industry, to extending its expertise across the entire laboratory to a range of ... allowing for its customers to 'Do More' in the lab. , Efficiency ...
(Date:6/19/2017)... ... 2017 , ... Tunnell Consulting has been solving the most complex ... challenges faced by life sciences, biotech and pharmaceuticals companies today is in interpreting the ... , who is well known in the industry and brings significant high-level expertise to ...
(Date:6/16/2017)... Rocky Hill, CT (PRWEB) , ... June 16, 2017 , ... ... of last night’s Entrepreneur Innovation Awards (EIA), held at The LOFT at Chelsea Piers ... their innovative project ideas to a panel of judges for an opportunity to secure ...
Breaking Biology Technology:
(Date:4/5/2017)... KEY FINDINGS The global market ... CAGR of 25.76% during the forecast period of 2017-2025. ... for the growth of the stem cell market. ... MARKET INSIGHTS The global stem cell market is segmented ... The stem cell market of the product is segmented ...
(Date:3/30/2017)... , March 30, 2017 Trends, opportunities ... (physiological and behavioral), by technology (fingerprint, AFIS, iris recognition, ... recognition, and others), by end use industry (government and ... immigration, financial and banking, and others), and by region ... , Asia Pacific , and ...
(Date:3/24/2017)... Research and Markets has announced the addition of the "Global ... to 2025" report to their offering. ... The Global Biometric Vehicle Access System Market ... the next decade to reach approximately $1,580 million by 2025. ... for all the given segments on global as well as regional ...
Breaking Biology News(10 mins):