1st August 2006
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Company Announcement
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Sale of Nuturf Pty Ltd
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Nufarm Limited announced today that it has signed a heads of agreement for the sale of its Australian turf/speciality business, Nuturf Pty Ltd, to Hong Kong based C K Life Sciences International Holdings Inc. for $7.2 million. 2004 financial year sales for Nuturf Pty Ltd were approx. $20 million; after tax profit was $1.8 million.
Nufarm said the business has not achieved sufficient scale in the Australian market to justify ongoing investment and will perform more efficiently in the control of C K Life Sciences, which already markets products into the turf and speciality sector.
It is anticipated the sale of the business will be completed within the next week.
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--end--
Further information:
Robert Reis
Corporate Affairs
Phone (61 3) 9282 1177
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