Cheminova Fully Aquires Colombia’s CropTech
28 October 2008 In December 2005, Denmark-based Cheminova acquired controlling interest in the successful Colombian sales and marketing company for plant protection products CropTech, with an option to acquire the remaining shares within the following five years. Since then, Cheminova has gradually increased its stake in CropTech, and will now exercise its option to acquire the company’s remaining shares. CropTech will change its name to Cheminova Colombia.
CropTech, with sales of approximately US $20 million, has established its presence in markets throughout the Andean region. Under the full ownership of Cheminova, CropTech will continue to expand and fortify its position in those markets, as well as promoting and developing its existing, broad product portfolio. The company will also expand its portfolio in the coming years by adding new products from Cheminova’s development pipeline.
The acquisition of the remaining shares will not have any significant impact on Cheminova’s results in 2008.
Get The Newsletter Today!
