Home / Knowledge / News / Textiles / Novozymes buys out Canadian enzyme business
Novozymes buys out Canadian enzyme business
31
Jan '13
Novozymes acquires Iogen Bio-Products, industrial enzyme business of Ottawa-based Iogen Corporation for CAD 67.5 million (approximately DKK 370 million) and potential earn-out payments of up to CAD 12.5 million (approximately DKK 70 million). The deal provides Novozymes with all commercial rights to Iogen Bio-Products’ existing product portfolio, pipeline, facilities and know-how. Novozymes acquires all of Iogen Corporation’s industrial enzyme business. The acquisition does not include the purchase of assets that relate to Iogen Corporation’s bioenergy process technologies.

Iogen Bio-Products, which entered the industrial enzyme industry in 1991, produces and sells enzymes for the pulp & paper, textile, grain-processing and animal feed industries. The company has close to 70 employees and sells more than 20 products globally.

“Iogen Bio-Products is a good fit for Novozymes,” says Andrew Fordyce, Vice President of Global Enzyme Sales and Customer Solutions at Novozymes. “We get a number of products that complement our existing product portfolio and welcome a talented group of employees who are very good at developing and producing industrial enzymes.”

Financial impact

The acquisition is expected to have a positive impact on Novozymes’ sales growth in 2013 of around 0.5 percentage point depending on when the acquisition is closed. The acquisition is expected to have a slightly negative impact on EBIT and EBIT margin in 2013, but outlook for EBIT growth and EBIT margin remains unchanged. The outlook for ROIC for 2013 is being changed from ~20% to 19-20% as a result of the additional capital invested. Novozymes' outlook for free cash flow excludes acquisitions and remains unchanged for 2013. Outlook assumes rates for the company’s key currencies remain at the closing rates on January 18 for the rest of 2013.

Closing of the acquisition is anticipated late February 2013, awaiting finalization of corporate formalities.

About Novozymes

Novozymes is the world leader in bioinnovation. Together with customers across a broad array of industries we create tomorrow’s industrial biosolutions, improving our customers' business and the use of our planet's resources. With over 700 products used in 130 countries, Novozymes’ bioinnovations improve industrial performance and safeguard the world’s resources by offering superior and sustainable solutions for tomorrow’s ever-changing marketplace. 

Novozymes


Must ReadView All

15 trade associations urge nations to safeguard WTO system

Apparel/Garments | On 15th Dec 2017

15 trade associations urge nations to safeguard WTO system

Fifteen trade and industry associations from across the world have...

India’s cotton output projected at 377 lakh bales

Textiles | On 15th Dec 2017

India’s cotton output projected at 377 lakh bales

India’s cotton output in the 2017-18 season is likely to increase by...

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Apparel/Garments | On 15th Dec 2017

Ethiopia’s Kombolcha Industrial Park attracts foreign firms

Strategic location, modern factory facilities and proximity to the...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search