COPENHAGEN, DENMARK - Novozymes, world leader in bioinnovation, today announced the completion of the EMD/Merck Crop BioScience acquisition. A deal, announced last December, that demonstrates Novozymes' commitment to develop sustainable solutions for both industry and agriculture on a global scale.
"We're excited to bring these two innovative companies together to help farmers produce more and better food, feed, fuel, and fiber while minimizing the environmental footprint," says Thomas Videbæk, Executive Vice President of Novozymes.
Bringing a new level of innovation to agriculture
The deal complements Novozymes' existing agricultural biologicals business. The people, products, and technical expertise being brought together holds the potential to accelerate the development of new products and better meet farmers' current and future needs for sustainable solutions.
The combination of products will offer farmers more choice on multiple action products with complementary benefits.
"With the wider range of expertise and greater capacity for research and development, we'll be able to introduce new products into the market quicker than before," shares Videbæk. "The acquisition expands our business reach, enabling us to deliver more value to more farmers globally."
Financial impact on Novozymes
Following the acquisition Novozymes adjusts its 2011 guidance provided on January 21, 2011. Revenue is now expected to be positively affected by approximately DKK 300 million resulting in an increased guidance on sales growth from 7-10% to 10-13% in both DKK and local currency. For more info, please refer to the stock exchange announcement.
FACTS: Novozymes' biofertility products increase the supply of nutrients to crops and include nitrogen inoculants for legume crops, signaling compounds to enhance nitrogen fixation, and products that increase the availability of phosphate to crops. Novozymes' biocontrol products control insect, disease, and weed crop pests; and Novozymes' bioyield enhancement products stimulate crop stress resistance, and generally improve crop health and productivity.
SOURCE: Novosymes News Release