Company announcement no. 5/2010
May 11, 2010
CHEMINOVA ACQUIRES ROGOR BUSINESS FROM ISAGRO
Cheminova has today concluded an agreement with the Italian company Isagro SpA
concerning the acquisition of Isagro's global business involving the
insecticide dimethoate, which is marketed under the Rogor trademark, at a price
of EUR 9.7 million.
The acquisition includes - in addition to the Rogor trademark - all
registrations and know-how associated with Isagro's global dimethoate business,
but no employees or production facilities, as the business will be fully
integrated into Cheminova's existing dimethoate activities. Revenue totals EUR
6 million a year, the most important markets being Italy and India.
The Rogor trademark is well-established in a number of markets and will
strengthen Cheminova in the dimethoate market and thereby in Italy and other
markets. Also, following the acquisition, Cheminova will gain access to new
markets, including India, where dimethoate has so far not been part of the
Cheminova product programme, while Isagro will retain non-exclusive
distribution rights for a 5-year period in some countries.
The acquisition of the Rogor business is effective as of today, but Isagro will
in the coming months contribute to an appropriate transfer of the activities,
rights etc. The acquisition will thus positively impact Cheminova's sales and
results as from 2011, while the positive effects will be very limited in 2010.
AURIGA INDUSTRIES A/S
Contacts:
Kurt Pedersen Kaalund, President & CEO
Jens Ole Jensen, Vice President
Tel. +45 7010 7030 - investor@auriga.dk
