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Denmark's Novozymes to acquire U.S. biotech company

12-21-2010 14:45 BJT

COPENHAGEN, Dec. 20 (Xinhua) -- Danish bio-tech company Novozymes announced Monday that it will purchase American company EMD/Merck Crop BioScience from Merck KGaA for 275 million U.S. dollars.

"We have found in EMD/Merck Crop BioScience a company that has a strong strategic fit with our existing BioAg business. In brief, it has a complementary product range and geographical scope, a strong R&D pipeline, and very talented people," Steen Riisgaard, CEO of Novozymes, said in a press release.

Novozymes' main production is focused on the production of industrial enzymes. EMD/Merck Crop BioScience's products and technologies are used to enhance biological growth using nitrogen biofertilizers.

Editor:Zheng Limin |Source: Xinhua

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