Cheminova acquires major stake of CropTech group with presence in Colombia, the Andean Region and Central America in order to strengthen its regional market position.
In order to strengthen its position in Latin America, Cheminova has acquired the controlling interest of CropTech as of January 1, 2006.
CropTech is an independent distributor and marketer of plant protection products in Colombia and the Andean region. This year, CropTech expect to reach a turnover close to 6 million USD. The merged company will continue to trade under the CropTech name, and the management will remain unchanged.
Since its incorporation in 2003, CropTech has been managed by Andreas Lorenz and Tairo Vellojin and has obtained a large product portfolio based on well-known products and trademarks.
“The broad product portfolio, the professional management and the large customer base of CropTech together with our position as a high quality basic producer of important plant protection products will form an excellent platform for Cheminova’s growth in the important Colombian market,” says Jesper K. Hansen, Vice President, Sales and Marketing of Cheminova. “Further, CropTech is ideally located to take advantage of the possibilities in the Andean Countries and Central America.”
The Colombian market for plant protection products is worth close to 350 million USD and the whole Andean Region above 700 millions USD.
With the acquisition of CropTech Cheminova continues strengthening its independent market access in significant markets.
December 21, 2005
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