COPENHAGEN: Danish industrial enzymes producer Novozymes is on the look-out for acquisitions smaller than its 2010 purchase of EMD-Merck Crop BioScience for around $275 million, the group's chief executive said on Thursday.
"We can easily afford the things we are looking at," Novozymes Chief Executive Steen Riisgaard told Reuters in an interview after the company published fourth-quarter results.
Earlier on Thursday, Chief Financial Officer Benny Loft said Novozymes was looking at "small" acquisitions."For us EMD was big. It cost 1.5 billion crowns," Riisgaard said. "So 'small' means less than that."
The acquired Milwaukee, Wisconsin-based EMD unit is a developer of natural inoculants used by farmers to improve plant health and crop yields.
"We would very much like to do something in the BioAg business which is where EMD also is," Riisgaard said. "It doesn't matter where the headquarters are."
Comments
Comments are closed for this article.