{"id":716,"date":"2017-12-14T16:15:07","date_gmt":"2017-12-14T08:15:07","guid":{"rendered":"http:\/\/www.agrinoon.com\/agrochemicals\/?p=716"},"modified":"2017-12-14T16:15:07","modified_gmt":"2017-12-14T08:15:07","slug":"nufarms-expansion-in-europe-will-not-see-a-reliance-on-glyphosate","status":"publish","type":"post","link":"https:\/\/www.agrinoon.com\/agrochemicals\/ja\/nufarms-expansion-in-europe-will-not-see-a-reliance-on-glyphosate\/","title":{"rendered":"Nufarm\u2019s expansion in Europe will not see a reliance on glyphosate"},"content":{"rendered":"<div id=\"detailbox\" class=\"post-content\">\n<div>Questions raised in Europe about the safety of glyphosate herbicide are unlikely to greatly affect Nufarm\u2019s bottom line.<\/div>\n<div>Nufarm chairman Donald McGauchie told the company\u2019s annual general meeting in Melbourne today glyphosate sales in Europe were expected to account for only $9 million of $250 million of revenue expected with the first full year of ownership of the Century portfolio of chemicals acquired from Adama and Syngenta.<\/div>\n<div>In response to a question from the Australian Shareholders Association, Mr McGauchie said he was pleased that European Union member states had renewed registration of glyphosate for the next five years.<\/div>\n<div>He said it was scientifically proven that glyphosate was not carcinogenic, as claimed by some environmental groups.<\/div>\n<div>\u201cWe are disappointed the glyphosate registration was not extended for 15 years,\u201d he said.<\/div>\n<div>\u201cIt has clearly become a political rather than a science-based decision.\u201d<\/div>\n<div>Nufarm is expanding its presence in the European market, with two key acquisitions during the past six weeks.<\/div>\n<div>The company announced in late October it was acquiring the Century chemical portfolio from Adama and Syngenta for $627 million and in early November, it struck a deal to buy a European portfolio of cereal broadleaf weedkillers from FMC Corporation for $US90 million (about $118 million).<\/div>\n<div>Nufarm managing director Greg Hunt told the AGM the two acquisitions would reposition the company among its European peers in the crop protection market.<\/div>\n<div>Mr Hunt said the Century range included 50 crop protection formulations used in 29 European countries.<\/div>\n<div>\u201cThis portfolio is being divested by Adama and Syngenta to meet European Commission requirements relating the acquisition of Syngenta by ChemChina,\u201d he said.<\/div>\n<div>\u201cThe Century products represent an excellent strategic fit for Nufarm, aligning closely with the core crops and countries that we are targeting under our strategy.\u201d<\/div>\n<div>Mr Hunt said the Century group of chemicals should generate revenue of about $250 million in the first full year of ownership.<\/div>\n<div><\/div>\n<\/div>\n<div class=\"post-meta\"><b>Source:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/b>The Weekly Times<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Questions raised in Europe about the safety of glyphosate herbicide are unlikely to greatly affect Nufarm\u2019s bo &hellip; <a href=\"https:\/\/www.agrinoon.com\/agrochemicals\/ja\/nufarms-expansion-in-europe-will-not-see-a-reliance-on-glyphosate\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Nufarm\u2019s expansion in Europe will not see a reliance on glyphosate&#8221;<\/span><\/a><!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"two_page_speed":[],"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[59],"tags":[],"class_list":["post-716","post","type-post","status-publish","format-standard","hentry","category-international-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - 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