Nufarm (NUF)

Shares / Stock Code

NUF

Stock Exchange / Sharemarket

ax

Nufarm Limited (NUF) is a company engaged in manufacturing and supplying a variety of agricultural chemicals that are used by farmers in protecting the crops from being damaged by pests, weeds, and disease. NUF was listed on the Australian Stock Exchange on the 10th of November 1988. Its average annual revenue reaches approximately $1.7 billion out of its issued capital of $155 million. Its headquarters is located in Laverton North, Australia and to date; around 2,300 people are employed in the company. Nufarm Limited operates mainly in two business segments: industrial, fine and performance chemicals and crop protection.

The industrial, fine and performance chemicals business segment of Nufarm Limited is in charged of the manufacturing of chlor alkalis, coatings and surfaces for the automotive, consumer and pharmaceutical industries. This segment operates and manages two chlor alkali plants located in Western Australia. These two plants supply chlorine to producers of titanium dioxide. This segment is also in charged of the Lobeco operations mainly in South Carolina in North America. Lobeco produces a range of fine and performance chemicals that are used in the fertiliser and explosive industries and construction business by pigment manufacturers and pharmaceutical companies.

The crop protection business segment of NUF is engaged in the manufacturing of pesticides and herbicides. The manufacturing operation is done at plants located in Belvedere, UK, Linz, Austria and Melbourne, Australia. The production of a variety of crop protection products is done at facilities located in France and Western Australia.

Nufarm Company History

In 1997, the North American phenoxy herbicide business of Rhone-Poulenc's was acquired by Nufarm Limited. Two years later, the company made an acquisition of the Riverdale Chemical Company. Riverdale Chemical Company produced and distributed crop protection products.

The company acquired the name "Nufarm" in the year 2000. It was also in the same year when the Fernz Construction Materials, the company's construction chemical business was sold to the Lafarge Group. In 2001, the French interests of the company were merged into one within the Nufarm France. It was in the same year when Fernz Timber Protection, the timber treatment business of Nufarm was acquired by Osmose, a wood treatment equipment and chemicals maker. A year after, 14% of India's Excel Industries' pesticide business was bought by the company.

In 2003, an acquisition of the Makhteshim-Agan's Environmental Protection Agency labels for Butoxone was made by Nufarm Americas and Aceto Agricultural Chemicals Company. This led to a joint venture named SRFA. It was also in 2003 when the company's Florigene biotechnology subsidiary based in London was acquired by Suntory, a Japanese firm.

The acquisition continued the next year when the phenoxy herbicide business of BASF was acquired by Nufarm in 2004. An agreement stating that the right to distribute all the crop protection products of BASF in Australia belongs to Nufarm was signed by BASF and Nufarm. It was also in the same year when Nufarm was granted by Syngenta the exclusive distribution rights in US for its Predict herbicide for the forestry markets and industrial vegetation.

It was in April 2005 when the SEAC pharmaceutical intermediates business of Nufarm was sold to Minakem Holdings SAS. It was sold for E23 million. The company's purpose for selling it was to concentrate more on its central businesses.

Nuturf, Nufarm Limited's Australian specialty/turf business was sold to C K Life Sciences International Holdings, a Hong Kong-based company in August 2005. In November 2005, a crop protection company based in Columbia, Agroquímicos Genéricos, was acquired by Nufarm.

It was in April 2006 when Dovuro Seeds, a canola seed production and marketing company based in Australia was acquired by Nufarm Limited. The shares of Nutrihealth, an Australia-based specialty canola seed breeding company were also acquired by Nufarm.