Nov. 28, 2007
Austrian agrochemical firm Kwizda Agro (Vienna) has taken over Romanian firm Agrovet Trade (Bucharest) in order to establish its business in the country. "The new member of the EU, with its 9 million hectares of farmland, has a high potential in the agrarian sector," Kwizda notes.
Agrovet Trade sells agrochemical active ingredients, non-crop products, seed and fertilisers. The company has 12 branches and employs 60 staff across Romania. Through the acquisition, Kwizda Agro aims to secure a 20% market share in Agrovet's individual sectors. It plans to distribute its own as well as its partners' products through Agrovet Trade's infrastructure.
Kwizda Agro plans to expand production and storage capacity at its Leobendorf site in Austria in early 2008 to meet the anticipated increased demand. It produces plant protection products as water-soluble and dispersible granules, microcapsule formulations, micro-emulsions and suspension concentrates.
Kwizda Agro operates in Austria, France, Italy and Hungary. It has around 200 employees and annual sales of Euro 70 million ($104 million). The company claims to be a leading distributor in the Austrian market with a share of around 25% and an important player in Hungary, with a 7% market share.