logo
Share SHARE
FONT-SIZE Plus   Neg

Neogen Buys Chem-Tech - Quick Facts

Neogen Corp. (NEOG) announced Thursday that it has acquired the stock of Chem-Tech Ltd., a manufacturer of insecticides for the animal and food industries. The purchase price includes contingent payment consideration. No additional financial details were disclosed.

Chem-Tech's revenues for the most recent 12 months exceeded $14 million.

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, Neogen said.

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

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
American Express Co. (AXP) Thursday reported a drop in fourth-quarter profit, as revenues declined 4 percent due to absence of Costco portfolio while provisions for bad loans and marketing costs increased. Earnings fell short of Wall Street estimates, while revenues trumped expectations. New York-based... Home improvement retailer Lowe's Companies Inc. (LOW) has reportedly informed about 2,400 employees that they will be laid off. The majority of the lay offs are at the store level, while other affected positions are at distribution centers, contact centers and at the company's corporate office in... The U.S. Department of Defense and Lockheed Martin Corp. are reportedly nearing a deal worth $9 billion for F-35 fighter planes. President-elect Donald Trump had earlier heavily criticized the Pentagon for overspending on defense contracts. He had specifically noted the F-35 as an example on how Lockheed...
comments powered by Disqus
Follow RTT