This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Landec Sells Seed Coating Business And Partners With INCOTEC To Gain Global Access For Landec Agriculture Seed Coating Technology

Landec Corporation (Nasdaq:LNDC), a company that develops and markets patented products for food, agricultural and biomedical applications, announced today that it has entered into three agreements with INCOTEC ® Coating and Seed Technology Companies, a leading provider of seed and coating technology products and services to the seed industry. The partnership provides Landec access to growing global markets for its polymer technology and enables Landec to exit the day-to-day operations of its agricultural seed coating business. These agreements enable Landec to focus on developing new polymer formulations for an agricultural market increasingly dependent on seed coating technology and to leverage INCOTEC’s global presence in the seed treatment markets.

In the first agreement, Landec sold its seed subsidiary, Landec Ag LLC, to INCOTEC Holding North America, Inc. Landec Ag was sold to INCOTEC for $600,000, which will result in a gain of approximately $400,000.

In the second agreement, Landec entered into a seven-year exclusive technology license and polymer supply agreement with INCOTEC Field Crops North America LLC for the use of Landec’s Intellicoat ® polymer seed coating technology for male inbred corn which is sold under the Pollinator Plus ® label. This license does not include the use of Intellicoat for the controlled release of an active ingredient for agricultural applications which will be retained by Landec. Landec will be the exclusive supplier of Pollinator Plus polymer to INCOTEC during the term of the license agreement and Landec will receive a royalty equal to 20% of the revenues realized by INCOTEC from the sale of or sublicense of Pollinator Plus coatings during the first four years of the agreement and 10% for the last three years of the agreement.

In the third agreement, Landec entered into a five-year exclusive technology license and polymer supply agreement with INCOTEC HOLDINGS B.V. for the joint development of new polymer and unique coatings for use in seed treatment formulations. In this agreement Landec will receive a value share which will be mutually agreed to by both parties prior to each application being developed.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.65 -0.66%
FB $101.93 0.92%
GOOG $681.92 -0.32%
TSLA $150.01 4.40%
YHOO $26.75 -1.30%


Chart of I:DJI
DOW 15,660.18 -254.56 -1.60%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs