Without crop protection products, as much as half of the world's crop harvests would be lost! Already now, a billion people worldwide go to bed hungry every day, and the number is still growing. More efficient farming will contribute to reverse the negative development, and this is where crop protection products are essential!
Development of new, effective crop protection products
Cheminova is one of the companies focusing strongly on research and development of new effective products that can increase crop yields. The product development aims at far safer new crop protection products, but just as effective as traditional products.
- Cheminova has a natural interest in replacing the traditional toxic Class I products with modern and far safer products, Allan Skov explains, who is the Senior Vice President, Development & Registration at Cheminova.
- The challenge is to get the poor farmers to replace their effective traditional products with new and unfamiliar ones, as their survival depends on effective crop protection, he adds.
Social responsibility - sustainable products
- We are committed to a long-term and precise CSR policy, where Cheminova assumes greater social responsibility than required by law, Lars-Erik Kruse Pedersen adds, who is the Vice President, Corporate Communication, at Cheminova.
- Whatever we do must make business sense, but also be sustainable for the community, which in turn places further emphasis on innovation and development.
New products are growth drivers
Cheminova's product product programme is undergoing a rapid renewal as part of the plan for the future. In the past few years, efforts and investments have been intensified in innovative chemistry, process development, formulation development and registration, which form the basis for introduction and marketing even more new products than earlier.
- We are very satisfied with Cheminova's development in general, as it confirms our Business Plan "Five-in-Fifteen", President & CEO Kurt Pedersen Kaalund says.
- In 2009, we have achieved an organic growth of more than 10% for Cheminova's other crop protection products excluding glyphosate. Growth is driven by the new products in the product programme. Our target is to double Cheminova's global market share to 5% in 2015 concurrently with improvement of earnings.
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Growth targets in Business Plan ”Five-in-Fifteen”
- Double market share to 5% in 2015.
- Higher earnings with EBITDA matching the best among peers in the industry.
- Increased value creation for the benefit of all stakeholders.
How do we achieve the ambitious long-term targets?
- Organic growth through development and sales of new products.
- Acquisitions of complementary products and companies.
- Economies of scale and improved efficiency in all functions.
The shareholder letter has been forwarded by ordinary mail to Auriga’s shareholders and released as Investor News via NASDAQ OMX, Copenhagen, GlobeNewswire.
See Auriga’s investor news
See Auriga's shareholder letters 2009
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