Enzymes and microbes producer Novozymes (Bagsværd, Denmark) reports fourth-quarter net profit of 922 million Danish krone ($137 million), up 10% year on year (YOY), on sales up slightly to DKr3.7 billion. Organic sales growth was 1%.
Sabic has entered into an agreement to transfer its fertilizer business to its affiliate Saudi Arabian Fertilizer Co. (Safco). Under the accord, Safco will acquire the newly formed Sabic Agri-Nutrients Investment (Sanic) in exchange for shares, increasing Sabic’s stake in Safco to 50.1%, from 42.9%. Sanic is valued at 4.59 billion Saudi riyals ($1.22 billion).
ChemChina and Sinochem have announced plans to consolidate their agricultural businesses into a new holding company within ChemChina.
Bayer has extended an existing research agreement with artificial intelligence (AI) specialist Atomwise for the continued development of two crop protection programs.
Univar said today that it has completed the sale of its environmental sciences unit, a pest management business, to private equity firm AEA Investors (New York, New York), for $195 million.
Agchem producer PI Industries (Udaipur, India) has completed the acquisition of lsagro (Asia) Agrochemicals Private Ltd. (lsagro Asia; Mumbai, India) from lsagro Group (Milan, Italy). The cost of the transaction is 3.45 billion Indian rupees ($48.2 million).
American Vanguard (Newport Beach, California) has acquired four herbicide brands from Corteva Agriscience.
Adama (Tel Aviv), a major generic crop protection pro ducer owned by ChemChina, says it has obtained regulatory approval in its first market, Paraguay, for Armero, its new dual-mode fungicide containing the active ingredients prothioconazole and mancozeb, benefiting from its new in-house production of prothioconazole, a broad-spectrum systemic fungicide.
BASF Venture Capital is the lead investor in a funding round for Israeli agtech startup Equinom (Givat Brenner, Israel).
Mitsui & Co. said today that it has agreed to acquire a 62% stake in the agricultural chemicals company Belchim Crop Protection (BCP; Londerzeel, Belgium) from BCP's founder, Belchim Management (BM).