Certis USA to acquire certain assets of Ecogen Inc.

Certis USA, LLC, a wholly owned subsidiary of Mitsui & Co., Ltd. and one of the world's leading producers of biological pesticides, has signed a letter of intent to acquire certain assets of the Bt biopesticide and insecticidal nematode businesses owned by Ecogen, Inc. of Langhorne, PA. Assets purchased by Certis would include Ecogen’s products CryMax®, Lepinox®, Condor®, Cruiser® and Raven® biological insecticides, as well as Bt strain libraries for biopesticides, product registrations, trademarks, patents or licenses and certain fixed assets.

Certis USA was established by Mitsui in April 2001. Its products were previously sold under the name of Thermo Trilogy Corporation. Certis, already the owner of extensive resources in Bt technology, is a fully integrated biological company with capabilities in botanical and fungal pesticides, beneficial insecticidal viruses and beneficial nematodes.

Dennis Banasiak, president and CEO of Certis USA, said, "This potential purchase is consistent with the strategic vision established by Mitsui AgriScience. Its goal is for Certis USA and the Certis affiliates worldwide to become the leading providers of crop protection solutions for Integrated Pest Management (IPM) programs, particularly for high-value specialty crops.

"The Ecogen products will enhance our existing Bt product line and introduce complementary technologies that fit IPM production practices," Banasiak said. "Also important is that our base production of biological products would increase to further improve our economies of scale at our dedicated production facility in Wasco, CA."

The acquisition is expected to conclude during the first quarter of 2002 after shareholder approval of both companies.

Bacillus thuringiensis (Bt) products are the most widely used biological pesticides. Bt bioinsecticides are characteristically low in risk to humans, animals and the environment, yet they are highly lethal to Lepidopteran (caterpillar) pests, the primary insect threat to crop production.

Certis USA is owned by Mitsui & Co., Japan’s largest trading company. Mitsui markets and distributes crop protection products and services directly and through its Certis marketing subsidiaries in Europe, Japan, Africa and the U.S. Global crop protection sales exceed $400 million annually.

Headquartered in Columbia, MD, Certis USA manufactures environmentally friendly crop protection products for vegetable, tree fruit, nut, grape, citrus and mushroom crops grown both conventionally and organically. Certis product brands include: Agree®, Deliver®, Javelin®, Teknar® and Thuricide® bioinsecticides; Azatin® and Neemix® botanical insect growth regulators; Trilogy® botanical fungicide/miticide; BioVector® insecticidal nematode, and GemStar® and Spod-X® insecticidal virus products.