Novozymes Expands in South Africa

18-Mar-2004

Bagsvaerd. Novozymes to buy 51% of the company enzymes S.A. (Pty) Ltd. South Africa. The acquisition strengthens Novozymes' position on the growing African market. Novozymes intends to buy the remaining 51% of Enzymes S.A. (Pty) Ltd. which is the company that runs Novozymes' business activities in South Africa. Enzymes S.A. is a joint venture in which Novozymes today owns 49% and the local management team owns 51% of the shares. The acquisition will be effective July 1, 2004.

Part of Novozymes' strategy

"The purchase supports Novozymes' business strategy of owning and operating its own affiliates in important markets. Both the South African and the sub-Saharan African are markets with very interesting potential going forward", says Peder Holk Nielsen, Executive Vice President for Novozymes' Sales & Marketing.

Increased focus on the African market

Novozymes had to abrupt its business in South Africa during the apartheid sanctions from 1986-1996. Now Novozymes will increase its focus on the growing sub-Saharan and South African market. The current management team at Enzymes S.A. will continue as management team of the South African subsidiary of Novozymes and the current employees will also continue working for Novozymes in South Africa. The price of the acquisition will not be disclosed.

Novozymes is the biotech-based world leader in enzymes and microorganisms. Using nature's own technologies, we continuously expand the frontiers of biological solutions to improve industrial performance everywhere. Headquartered in Denmark, Novozymes employs more than 3,900 people in 30 countries. Novozymes produces and sells more than 600 products in 130 countries.

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