Eco Agro Resources (EAR) and Hocking International Laboratories (HIL) announced a joint venture that adds HIL agricultural products to the EAR portfolio and locates manufacturing of existing EAR nitrogen stabilizer products at the HIL network of strategically located production facilities. Eco Agro Resources was formed in 2013 and sells enhanced efficiency fertilizer products. Hocking International was established in 1976 and is a leading chemical company with manufacturing expertise and world-class facilities strategically located around the country.
Andrew Semple, chief executive officer for Eco Agro Resources explains how the joint venture helps grow the business. "The arrangement immediately increases production capacity to meet the rapidly growing demand for our unique nitrogen stabilizer products N YIELD and N-BOUND. Our joint venture with Hocking International provides world class manufacturing capacity, starting at 3 million gallons per year with additional scale up capacity available without delay. Semple says. "It also permits further expansion of our product line with N-STILL slow release nitrogen and expertise to help us scale up production of PHOS GAIN phosphorus enhancer.
In addition, EAR gains additional agricultural products from HIL to expand its product offerings into micronutrients and additional performance enhancing products. For HIL, the JV helps further penetrate the agricultural markets and increase utilization of existing production capacity.
Doug Hocking, chief executive officer for Hocking International Laboratories observes, "A transaction of this magnitude is certainly something for all parties to get excited about. This new venture is going to accelerate full production potential for both EcoAgro Resources and Hocking International as well as facilitate maximum exposure for both organizations. Because our companies share the same values holding Respect, Integrity and Quality products in the highest regard, our clients will have a perfectly-rounded experience receiving the highest quality service. Moreover, Semple and his team will play an integral role in aiding us to reach the agricultural market more effectively. Hocking adds, "This relationship allows both organizations to leverage their strengths in a mutually beneficial business structure. Hocking International specializes in the manufacturing processes, while Eco Agro Resources provides the sales and marketing team together with clients in 14 countries to ensure worldwide distribution.
The EAR production campaign for the 2015 season will soon be underway at the JV facilities. Shipments will begin before the end of 2014.