Novozymes announced completion of the acquisition of Canada-based Philom Bios. The inoculant company will become the cornerstone of Novozymes’ BioAgriculture business.
“This is a strategy we have been developing since the beginning of 2006 when we planned our entry into the organic and sustainable agriculture market,” said Novozymes Biologicals’ President Ted Melnik.
Using technologies developed in Salem, Va, Novozymes will expand Philom Bios’ current market presence in the agricultural segment. The merger provides future opportunities for growth of Novozymes in Salem; however, no immediate changes are planned. Philom Bios will continue to do business from Saskatoon, Canada and Novozymes Biologicals’ existing business will remain in Salem.
“We are committed to establishing Novozymes as a leader in the sustainable agriculture industry, providing earth-friendly alternatives to traditional pesticides and fertilizers,” Melnik says. “This merger reinforces that commitment.”