WASHINGTON (dpa-AFX) - Novozymes A/S, Novonesis (NVZMF.PK, NSIS_B.CO, NSIS-B.CO, NVZMF, NSIS-B), a biotechnology company, on Wednesday announced an agreement to acquire a production facility in Rayong, Thailand from Meihua for around $50 million.
The acquisition aims to expand the company's footprint in Southeast Asia and strengthen its global production capabilities.
The facility includes advanced fermentation capabilities and can be further expanded to support growth, including production of human milk oligosaccharides.
The company plans additional investments in the site and expects it to become commercially operational in 2027.
The move supports Novonesis' long-term GROW strategy, with emerging markets accounting for about one-third of its sales and expected to grow faster than developed markets.
Novonesis is currently trading 0.35% lesser at DKK 395 on the Copenhagen Stock Exchange.
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