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Novozymes is Now ‘Novonesis’ After Succesfull Merger With Chr. Hansen
Novozymes and Chr. Hansen Complete Merger, Forming Novonesis: A Global Biosolutions Partner
Novozymes and Chr. Hansen have successfully completed their merger, giving rise to a new company called Novonesis. Novonesis is poised to become a world-leading biosolutions partner, dedicated to improving business practices, promoting healthier lives, and creating a more sustainable planet. With a workforce of over 10,000 employees and expertise spanning 30 diverse industries, Novonesis is already making a positive impact worldwide.
The Merger:
On December 12, 2022, Novozymes and Chr. Hansen entered into an agreement to merge and form a global biosolutions partnership. After obtaining all necessary regulatory approvals and completing the registration process with the Danish Business Authority, the merger has now been successfully realized. Novonesis brings together the strengths of Novozymes and Chr. Hansen, harnessing the power of biology to drive innovation in biosolutions.
A Vision for the Future:
Ester Baiget, President and CEO of Novonesis, expresses her enthusiasm for the merger, stating that Novonesis is poised to lead a new era of biosolutions by utilizing the wonders of biology. The company aims to develop transformative biosolutions that revolutionize the way we produce, consume, and live. With a talented team of 10,000 professionals, Novonesis is committed to unlocking the limitless potential of biosolutions.
Cees de Jong, Chairman of Novonesis, shares his excitement about the creation of a true global biosolutions leader. He emphasizes their commitment to creating powerful biosolutions based on over 100 years of innovation and application expertise. The company aims to be a growth partner to its customers, a value creator for its shareholders, and a force for positive change in society and the environment.
The Strengths of Novonesis:
Novonesis emerges as a leading global biosolutions partner with a diverse biological toolbox and a wide-ranging portfolio in lucrative markets. The company’s annual revenue is estimated at approximately EUR 3.7 billion, with a strong profitability and cash generation. Half of Novonesis’ portfolio focuses on improving health and producing better food, while the other half aims to reduce chemical usage and promote climate-neutral practices. The company operates a global network of research and development centers, application facilities, and manufacturing sites.
The Name ‘Novonesis’:
The name ‘Novonesis’ pays homage to Greek classical roots, with ‘Genesis’ meaning ‘origin’ or ‘beginning’ in Greek. By opting for a word rooted in Greek, Novonesis honors the pivotal role that ancient Greek thinkers played in the development of modern science. Additionally, ‘Novo’ signifies ‘new,’ associating the name with Novozymes’ reputation for robust scientific capabilities, a purpose-driven mindset, a Nordic heritage, and a commitment to societal well-being.
Financial and Sustainability Ambitions:
Novonesis has outlined its financial and sustainability ambitions. They anticipate an organic revenue growth of 6-8% through 2025 and aim for an EBIT margin of 29% by 2025, excluding integration costs and PPA amortization. The company estimates revenue synergies of EUR 200 million and cost synergies of EUR 80-90 million achievable within four and three years, respectively, from the completion of the merger.
In terms of sustainability, Novonesis aims to achieve carbon neutrality by 2050 and reduce absolute CO2 emissions from operations and supply chains by 2030. They also have the goal of reaching a minimum of 45% women and 45% men in all professional and senior management positions by 2030.
Novonesis is poised to shape the future of biosolutions as a global leader in the field. With its diverse expertise, focus on sustainability, and commitment to innovative solutions, Novonesis is well-positioned to drive positive change in various industries. The merger of Novozymes and Chr. Hansen marks the beginning of an exciting new chapter in the world of biosolutions.
Novozymes is Now ‘Novonesis’ After Merger With Chr. Hansen
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