PHC to divest non-core assets
The US-based, UK-listed bioproducts company, Plant Health Care (PHC – Pittsburgh, Pennsylvania), plans to divest its non-core business to focus on its disease resistance activator, Harpin αβ, and its drought resistance product, Myconate. Harpin and Myconate accounted for 34% of PHC’s total sales of $7.8 million in 2012 and 30% of 2011 sales of $7.9 million. The majority of revenues came from fertilisers and other crop treatment products, which are mainly sold to vegetable and fruit growers in Mexico and the EU. However, they have limited growth potential and will be divested when the opportunity arises, the company states.