Minneapolis-Based MGK Sells Subsidiary To UK Company
MINNEAPOLIS, Oct. 5, 2012 /PRNewswire/ -- MGK, the family-owned provider of insect control solutions to a wide variety of markets, announced the sale of one of its subsidies, Baltimore-based ICR Inc., to i2L Research Ltd. ("i2L") of Cardiff, UK.
ICR Inc, formerly known as Insect Control and Research, provides efficacy testing and regulation consulting to the insect control product industry. According to MGK President Steve Gullickson, the purchase of ICR by i2L, a product testing and development company also in the pest control industry, will help the UK organization extend its business from Europe into the United States.
"We certainly have appreciated, and will continue to appreciate, ICR's efficacy testing expertise, Gullickson said. "They provide an important service to us, and we look forward to being their customer in the coming years."
The sale of ICR strengthens MGK's strategic focus on its core business of creating responsible insect control products that protect people and their environments, added Gullickson. "We are very pleased to find a strategic buyer in i2L Research Ltd."Dr Peter M cEwen, CEO of i2L, stated that "the acquisition of ICR, Inc., which will now trade as i2LResearch USA, Inc., is a hugely important development, which places us at the heart of the two most important economies in the world, the EU and the USA" About MGKFounded in 1902, MGK sells insect control products into global markets including consumer home and pet products, professional pest control, animal health, and crop protection. The company holds 253 product registrations with the EPA for insect control products, and currently sells its products into more than 60 countries globally . MGK is a world leader in the development and distribution of the botanical insecticide pyrethrin as well as a wide range of synthetic chemistries. For more information, visit www.mgk.com.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV