28th September 2006
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Company Announcement
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Nufarm acquires crop protection business in Italy.
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Nufarm Limited announced today that it has reached agreement to acquire a crop protection business in Italy.
Nufarm will pay €6.4 million for the distribution business, registrations and customer lists of Agrosol SRL, a family owned business based in Ravenna in North Eastern Italy.
Agrosol owns 130 product registrations and has a pipeline of new products scheduled to be approved in coming years. The product portfolio is predominantly fungicides and insecticides, with current sales totalling €6.5 million.
Nufarm’s Managing Director, Doug Rathbone, said the acquisition will provide Nufarm with an operational platform to rapidly expand the company’s sales in Italy.
“Italy is one of the major agricultural markets in Western Europe and the only major market in that region where Nufarm does not currently have an operational presence.”
Current sales of Nufarm product into Italy – via distribution arrangements with a number of other crop protection supply companies – total just over €5 million.
“The Agrosol product range is complementary to Nufarm’s existing portfolio and the combination of our respective positions will result in a much stronger business,” Mr Rathbone said.
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Further information:
Robert Reis
Corporate Affairs
Phone (61 3) 9282 1177
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