01.02.2013 - With a €50m acquisition Novozymes puts a foot in the pulp & paper, textile, grain-processing and animal feed industries
On January 31st, the Danish enzyme specialist annouced that it will acquire the industrial enzyme business of Canadian cellulosic ethanol specialist Iogen Corporation for €50m. Earn-out payments of up to additional €10m could add to the sum. With the deal Novozymes bags the entire product portfolio of Iogen Bio-Products, including products in development, production sites and IP.
Iogen Bio-Products produces fibre modifying enzymes, such as pulp bleaching enzymes for the pulp and paper branch, fibre processing biocatalysts for textile sector, cellulases and hemicellulases fort he grain-processing and enzymes fort he animal feed industries. Closing of the take-over is expected in February 2013. With the deal Novozymes strenghtens its market position in industrial biotech which complements its already strong position in the cellulosic bioethanol segment that is expanded with aquisitions and collaborations.
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