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Float values Phibro at $345m

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Date: Friday 04 Apr 2008

LONDON (ShareCast) - Phibro Animal Health raised $45m on AIM this morning, giving the animal health and nutrition goods producer a market capitalisation of $345m.

After payment of transaction and other related costs, about $25m will be used to reduce amounts outstanding under the company's senior credit facility.

“The company is now positioned for the next stage in its strategy to be an even broader based animal health and nutrition business, through organic growth and acquisitions,” said chairman and president Jack Bendheim.

Phibro's main region of operation in terms of sales revenue is North America with manufacturing facilities located in Brazil, Israel and the United States.