Nufarm expects the new Greenville plant to broaden its manufacturing footprint
Australian agricultural chemical company Nufarm has opened a new crop protection manufacturing facility in Greenville, Mississippi in the US.
The Greenville plant is expected to broaden the company’s manufacturing footprint beyond its facilities in Chicago.
Nufarm CEO Greg Hunt said: “The opening of the Greenville plant is a milestone for Nufarm’s business. It broadens our manufacturing footprint beyond our facilities in Chicago to a true North American based platform.
“This is a facility where we can work more closely with our distribution partners to service the needs of farmers.”
New facility to provide reliable access to crop protection products for customers
In addition to supporting Nufarm’s expanding portfolio, the new facility is expected to provide the customers with reliable access to high-quality crop protection products.
Commenting on the opening of the facility, Mississippi Governor Bryant said: “I want to thank you for the millions of dollars of investment made here. The protection for crops into the future that Nufarm’s going to offer will have residual effects.”
In September this year, Nufarm has agreed to sell its South American crop protection and seed treatment operations in Brazil, Argentina, Colombia and Chile to Sumitomo Chemical Company.
Additionally, Nufarm has extended its existing commercial agreements and signed new commercial arrangements with Sumitomo.
Nufarm managing director and CEO Greg Hunt said: “This transaction represents compelling value for Nufarm shareholders and will provide an opportunity to refocus on other parts of the business where we can generate higher margins and stronger cash flow.
“The significant reinvestment we have made in our European, Nuseed and North American businesses in recent years, along with the next phase of transformation in our Australian business, is expected to deliver earnings growth and improved returns for shareholders in the coming years.”
Upon completion of the deal, Nufarm will operate a diversified global crop protection business and proprietary seed technology business with an omega-3 canola commercialisation opportunity.