Novozymes acquires Iogen's enzyme business

Feb 1, 2013 - Danish biotech company Novozymes A/S (CPH:NZYM B) said yesterday it agreed to take over Iogen Bio-Products, the industrial enzyme unit of Ottawa-based Iogen Energy Corp for CAD 67.5 million (USD 67.5m/EUR 49.4m).

Under the terms of the purchasing contract, Novozymes will have all commercial rights to the product portfolio, pipeline and facilities of Iogen Bio-Products. However, the acquisition excludes assets related to the bioenergy process technologies of Iogen Energy Corp.

The deal should raise Novozymes' sales by 0.5% in the current year, but it will have a slightly negative impact on the operating profit and margin, the company further said.

The parties expect to finalise the transaction in late February 2013.

Iogen Bio-Products makes enzymes for the pulp & paper, textile, grain-processing and animal feed industries. It employs nearly 70 people and offers over 20 products worldwide.

(CAD 1 = USD 1/EUR 0.732)

Choose your newsletter by Renewables Now. Join for free!