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Nufarm Announces Changes to Global Manufacturing Footprint

30 Jun 2020  |  16:46:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Changes to global manufacturing footprint

Nufarm announced its decision to cease manufacture of insecticides and fungicides at its Raymond Road site in Laverton, Australia and curtail herbicide manufacturing at its operations in Linz, Austria. The Company updated that in March 2020, it expanded the performance improvement program they commenced in Australia to the rest of their business. It shows that MCPA synthesis and herbicide formulation operations remain competitive, however gaps have emerged in the competitive position of 2,4-D synthesis and insecticide and fungicide formulation. The Company further updated that it expects the combined initiatives announced to deliver an annual improvement to earnings before interest, tax, depreciation and amortisation of up to A$15m per annum once fully implemented.

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