2nd May 2008
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Company Announcement
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Nufarm announces completion of Etigra acquisition
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Nufarm announced today that it has completed the acquisition of certain assets and business from US based Etigra LLC, a privately owned supplier of crop protection products focused on the turf and specialty sectors. Following US regulatory approval of the transaction, the acquisition was completed this week.
This proposed Etigra transaction was previously announced on March 5.
Etigra generated some US$34 million in annual revenues from a product portfolio comprising 50 registrations. Nufarm has acquired the registrations, customer lists and certain other assets and business from Etigra. Some 26 former Etigra employees have transferred to Nufarm.
The US$69 million acquisition was funded via a placement of new shares. The placement was successfully completed on March 5.
"The new product positions resulting from this acquisition – and the addition of some excellent people experienced in that segment - will significantly strengthen Nufarm’s turf and specialty business in the US, as well as providing new opportunities to move some of those products into a number of important crop segments," said Nufarm’s Managing Director, Doug Rathbone.
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Further information:
Nufarm Limited
Robert Reis
+61 3 9282 1177 |
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