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Nufarm strengthens global position in glyphosate
Jul. 4, 2008
Nufarm has signed memorandums of agreement that will secure the company's long-term global supply positions relating to glyphosate, and will facilitate a more integrated position in glyphosate manufacture.
Glyphosate is the world's biggest selling crop protection product, with annual global sales estimated to be valued at more than US $3.8 billion. Nufarm is the world's second largest supplier of glyphosate.
Nufarm has negotiated separate transactions with a number of leading Chinese companies involved in the manufacture of glyphosate. These transactions collectively involve an initial investment by Nufarm of approximately $28 million and will secure delivery of a large component of Nufarm's total future volume requirements.
Nufarm's managing director, Doug Rathbone, says the arrangements in China represented both an extension and strengthening of relationships with existing long-term suppliers and a number of new projects involving capacity expansion.
"Our involvement with these companies spans both financial support and the investment of technology and places Nufarm in a position that gives us a more integrated position in glyphosate synthesis," Rathbone says.
Rathbone says China will become an increasingly important source of glyphosate for Nufarm's global businesses and will account for a growing proportion of the company's total volumes.
Source: Nufarm News Release
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