Landec Sells Seed Coating Business and Partners With INCOTEC; Shares Spike to New Year High

By Staff,

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Landec Corp. ( LNDC ) are up 5% at around $8.10 having earlier soared to a new year high after the company announced it has entered into three agreements with INCOTEC Coating and Seed Technology Companies.

In the first agreement, Landec sold its seed subsidiary, Landec Ag LLC, to INCOTEC Holding North America, Inc. 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.

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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: LNDC

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