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<SEC-DOCUMENT>0000950123-05-005692.txt : 20050505
<SEC-HEADER>0000950123-05-005692.hdr.sgml : 20050505
<ACCEPTANCE-DATETIME>20050505154452
ACCESSION NUMBER:		0000950123-05-005692
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050429
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20050505
DATE AS OF CHANGE:		20050505

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PHIBRO ANIMAL HEALTH CORP
		CENTRAL INDEX KEY:			0001069899
		STANDARD INDUSTRIAL CLASSIFICATION:	GRAIN MILL PRODUCTS [2040]
		IRS NUMBER:				131840497
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-64641
		FILM NUMBER:		05803528

	BUSINESS ADDRESS:	
		STREET 1:		ONE PARKER PLZ
		CITY:			FORT LEE
		STATE:			NJ
		ZIP:			07024
		BUSINESS PHONE:		2019446020

	MAIL ADDRESS:	
		STREET 1:		ONE PARKET PLZ
		CITY:			FORT LEE
		STATE:			NJ
		ZIP:			07024

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHILIPP BROTHERS CHEMICALS INC
		DATE OF NAME CHANGE:	19980908
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>y08732e8vk.txt
<DESCRIPTION>FORM 8-K
<TEXT>
<PAGE>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 Current Report


     Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

        Date of report (date of earliest event reported): April 29, 2005

                        Phibro Animal Health Corporation
             (Exact name of registrant as specified in its charter)

          New York                  333-64641                    13-1840497
(State or other jurisdiction       (Commission                 (IRS Employer
      of incorporation)            File Number)              Identification No.)

                               65 CHALLENGER ROAD
                        RIDGEFIELD PARK, NEW JERSEY 07660
               (Address of principal executive offices) (Zip Code)

                                 (201) 329-7300
              (Registrant's telephone number, including area code)

         Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
<PAGE>
Item 7.01  Regulation FD Disclosure.

      Phibro Animal Health Corporation (the "Company") issued a press release on
April 29, 2005, announcing that its subsidiaries, Ferro Metals and Chemicals
Co., Ltd. (United Kingdom) and Koffolk (1949) Ltd. (Israel) completed the sale
of their jointly owned subsidiary Wychem Ltd. ("Wychem") for cash of US $4.75
million. The buyers included William A. Mathison, former head of the Specialty
Chemicals Group of the Company, who retired in August 2004, and Terry Robinson,
the present Managing Director of Wychem. Wychem is a manufacturer of
pharmaceuticals intermediates located in Suffolk, United Kingdom.

      For the nine months ended March 31, 2005, Wychem reported revenues of $3.9
million, operating income of $0.8 million and depreciation and amortization of
$0.3 million. For the year ended June 30, 2004 Wychem reported revenues of $3.9
million, operating income of $0.6 million and depreciation and amortization of
$0.4 million. The Company anticipates it will record a gain on sale of
approximately $1.5 million in the June 2005 quarter. The Company will use the
proceeds from the sale to pay down senior indebtedness and to reinvest in its
businesses.

      A copy of the press release is attached as Exhibit 99.1 to this Report.

      The information being furnished under Item 7.01 of this Report shall not
be considered "filed" for purposes of the Securities and Exchange Act of 1934.

      This report contains statements that, to the extent that they are not
recitations of historical fact, constitute "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995, Section 21E
of the Securities Exchange Act of 1934. Such forward-looking information
involves risks and uncertainties that could cause actual results to differ
materially from those expressed in any such forward-looking statements. These
risks and uncertainties include, but are not limited to, the Company's
substantial leverage and potential inability to service its debt; the Company's
dependence on distributions from its subsidiaries; risks associated with the
Company's international operations and significant foreign assets; the Company's
dependence on its Israeli operations; competition in each of the Company's
markets; potential environmental liability; potential legislation affecting the
use of medicated feed additives; extensive regulation by numerous government
authorities in the United States and other countries; the Company's reliance on
the continued operation and sufficiency of our manufacturing facilities; the
Company's reliance upon unpatented trade secrets; the risks of legal proceedings
and general litigation expenses; potential operating hazards and uninsured
risks; the risk of work stoppages; the Company's dependence on key personnel;
and other factors discussed in the Company's filings with the U.S. Securities
and Exchange Commission.

      Undue reliance should not be placed on forward-looking statements, which
speak only as of the date of this Report.


                                       2
<PAGE>
      All subsequent written and oral forward-looking statements attributable to
the Company or any person acting on its behalf are expressly qualified in their
entirety by the cautionary statements contained or referred to in this Report
and any other cautionary statements that may accompany such forward-looking
statements. The Company does not undertake any obligation to release publicly
any revisions to these forward-looking statements to reflect events or
circumstances after the date of this document or to reflect the occurrence of
unanticipated events, unless the securities laws require the Company to do so.


Item 9.01  Financial Statements and Exhibits.

(c)   Exhibits

Exhibit No.          Description

99.1                 Press Release issued April 29, 2005


                                       3
<PAGE>
                                   SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                            PHIBRO ANIMAL HEALTH CORPORATION



Dated: May 4, 2005                          By:   /s/  Richard G. Johnson
                                                --------------------------------
                                                  Richard G. Johnson
                                                  Chief Financial Officer


                                       4
<PAGE>
                                  EXHIBIT INDEX

Exhibit No.        Description

99.1               Press release issued April 29, 2005
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>y08732exv99w1.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>
<PAGE>
                                                                    Exhibit 99.1


FOR RELEASE: IMMEDIATELY

      FOR ADDITIONAL INFORMATION CONTACT: RICHARD G. JOHNSON, CHIEF FINANCIAL
OFFICER - (201) 329-7300

      PHIBRO ANIMAL HEALTH CORPORATION ANNOUNCES THE SALE OF WYCHEM LTD.


      RIDGEFIELD PARK, NEW JERSEY, APRIL 29, 2005 - Phibro Animal Health
Corporation (the "Company"), announced today that its subsidiaries, Ferro Metals
and Chemicals Co., Ltd. (United Kingdom) and Koffolk (1949) Ltd. (Israel) have
completed the sale of their jointly owned subsidiary Wychem Ltd. ("Wychem") for
cash of US $4.75 million. The buyers included William A. Mathison, former head
of the Specialty Chemicals Group of the Company, who retired in August 2004, and
Terry Robinson, the present Managing Director of Wychem. Wychem is a
manufacturer of pharmaceuticals intermediates located in Suffolk, United
Kingdom.

      Gerald K. Carlson, CEO of the Company, stated, "The sale of Wychem marks
the completion of our planned divestiture process initiated in 2002 and provides
additional resources for the Company's focus on its core Animal Health &
Nutrition and Specialty Chemicals businesses."

      For the nine months ended March 31, 2005, Wychem reported revenues of $3.9
million, operating income of $0.8 million and depreciation and amortization of
$0.3 million. For the year ended June 30, 2004 Wychem reported revenues of $3.9
million, operating income of $0.6 million and depreciation and amortization of
$0.4 million. The Company anticipates it will record a gain on sale of
approximately $1.5 million in the June 2005 quarter. The Company will use the
proceeds from the sale to pay down senior indebtedness and to reinvest in its
businesses.

COMPANY DESCRIPTION

      The Company is a leading diversified global manufacturer and marketer of a
broad range of animal health and nutrition products, specifically medicated feed
additives ("MFAs") and nutritional feed additives, which the Company sells
throughout the world predominantly to the poultry, swine and cattle markets.
MFAs are used preventively and therapeutically in animal feed to produce healthy
livestock. The Company is also a specialty chemicals manufacturer and marketer,
serving numerous markets.
<PAGE>
FORWARD-LOOKING STATEMENTS

      This news release contains statements that, to the extent that they are
not recitations of historical fact, constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995,
Section 21E of the Securities Exchange Act of 1934. Such forward-looking
information involves risks and uncertainties that could cause actual results to
differ materially from those expressed in any such forward-looking statements.
These risks and uncertainties include, but are not limited to, the Company's
substantial leverage and potential inability to service its debt; the Company's
dependence on distributions from its subsidiaries; risks associated with the
Company's international operations and significant foreign assets; the Company's
dependence on its Israeli operations; competition in each of the Company's
markets; potential environmental liability; potential legislation affecting the
use of medicated feed additives; extensive regulation by numerous government
authorities in the United States and other countries; the Company's reliance on
the continued operation and sufficiency of our manufacturing facilities; the
Company's reliance upon unpatented trade secrets; the risks of legal proceedings
and general litigation expenses; potential operating hazards and uninsured
risks; the risk of work stoppages; the Company's dependence on key personnel;
and other factors discussed in the Company's filings with the U.S. Securities
and Exchange Commission.
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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