Tuesday, February 8, 2011
Novozymes Deal Completed
Novozymes, a bio-innovation company with a plant in Roanoke County, has completed its acquisition EMD/Merck Crop BioScience. Novozymes moves into development of sustainable solutions for industry and agriculture.
“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.
The deal complements Novozymes’ existing agricultural biologicals business. Novozymes hopes to accelerate the development of new products for farmers.
“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,” says Videbæk. “The acquisition expands our business reach, enabling us to deliver more value to more farmers globally.”
Following the acquisition, announced that expected revenue growth should increase from an expected 7-10 percent to 10-13 percent.