Valent BioSciences to Sell Pace International Preharvest Products through Valent U.S.A. Corporation

  Valent BioSciences to Sell Pace International Preharvest Products through
  Valent U.S.A. Corporation

Agreement leverages Pace’s postharvest proprietary technology into the
preharvest market segments

Business Wire

LIBERTYVILLE, Ill. -- February 27, 2013

Valent BioSciences Corporation (VBC), the leader in biorational product
development and commercialization for agriculture, public health, and forestry
worldwide, announced today that Valent U.S.A. Corporation will manage the
marketing and sales of Pace International’s preharvest line within the U.S.
beginning March 1. The products protect tree fruit crops from adverse
environmental effects and crop stress, and include Raynox^®, Raynox^® Organic,
and RainGard^®, among others.

The move is a three-way agreement between the companies following VBC’s
acquisition of Pace International for $65M in December of last year. As part
of the transition, Pace will continue to support their preharvest products
outside the U.S. while managing global sales for its industry leading line of
postharvest products.

“We are pleased to bring this line of quality products into our rapidly
expanding portfolio of VBC biorationals,” said Andy Lee, Executive Vice
President and Chief Operating Officer of Valent U.S.A. “Given our strong
position in the pome fruit and stone fruit markets, this move provides
excellent growth opportunities for these brands. These complementary products
enhance the broad base of value-based solutions we provide to our customers.”

The preharvest line includes Raynox, a leading tool for apple growers in areas
where sunburn control is essential for maintaining fruit quality. Raynox
Organic plays a key role in the Pacific Northwest, where organic production is
important and the risk from sunburn damage is high. RainGard, which inhibits
the fruit’s ability to absorb water after a rain event, is used by cherry
growers to reduce cracking by as much as 50%.

Pace Executive Vice President and Chief Operating Officer Roberto Carpentier
says the realignment helps Pace focus fully on the postharvest market.

“By joining VBC and the Sumitomo Chemical Company organization, we have
immediately expanded our capacity and our reach,” said Carpentier. “The move
of our preharvest products to Valent BioSciences, with distribution and local
marketing by Valent U.S.A., is a perfect example of an area where we can gain
efficiencies without sacrificing our customer service or satisfaction. With
strong ties to the industry and world-class technical knowledge, the VBC and
Valent U.S.A. teams are ready to take these valuable grower tools to new
heights while Pace can be fully committed to our growing postharvest
business.”

The products will continue to be manufactured at the Pace facility in Wapato,
WA. The companies are working together to ensure a smooth business transition
for customers.

About Valent BioSciences Corporation Headquartered in Libertyville, IL, Valent
BioSciences is a subsidiary of Tokyo-based Sumitomo Chemical Company and is
the worldwide leader in the development, manufacturing and commercialization
of biorational products with sales in 95 countries around the world. Valent
BioSciences is an ISO 9001:2008 Certified Company. For additional information,
visit the company’s website at www.valentbiosciences.com

About Pace International LLC

Pace International LLC collaborates with growers, packers and agricultural
organizations to develop innovative solutions to enhance, protect, and
preserve fruit and vegetable quality. Pace is the leading provider of
postharvest solutions and technologies, equipment and technical services to
maximize efficiencies in packing operations and increase the value of crops
being processed. Pace International LLC is headquartered in Seattle,
Washington, USA with R&D, Manufacturing and Administration in Wapato, WA and
Sales and Technical Service Offices around the world. For more information,
visit www.paceint.com

About Valent U.S.A. Corporation

Valent U.S.A., headquartered in Walnut Creek, Calif., develops and markets
products in the United States and Canada that protect agricultural crops,
enhance crop yields, improve food quality, beautify the environment and
safeguard public health. Valent products include a well-known line of quality
herbicide, insecticide, fungicide and plant growth regulator products for
agricultural, seed protection and professional use. It differentiates itself
from its competitors as a leader in marketing and sales of both biorational
and traditional chemical products.

For more information about Valent or our full product line, please call
800-6-VALENT (682-5368) or visit www.valent.com.

Contact:

Valent BioSciences Corporation
Media Contact:
Barbara Wendling, 847-968-4793
Email: barbara.wendling@valentbiosciences.com