Norofert, a leading producer of organic agricultural inputs and biotechnology provider for agriculture in Romania, listed on the Bucharest Stock Exchange, announced that it entered the Brazilian market. The Romanian company partnered with Engenutri Group, a top player in agribusiness, to build a factory and distribute products in Brazil.

The assembly of the new production line in Brazil will begin in November 2024, replicating the successful technical model implemented in South Dakota, the US. The total investment for this project amounts to roughly EUR 500,000, made in 2 years and financed by both partners.

Brazil stands out for its predominant crops of corn, soy, wheat, and sugarcane, and the market for special plant nutrition products and microorganism-based solutions has seen significant growth in recent years.

Vlad Popescu, President of the Board at Norofert, stated: “Brazil offers a significant opportunity for our expansion, considering its vast area of over 96 million hectares of arable land and the continuous growth of the market for special products for plant nutrition and microorganisms. […] The partnership with Engenutri Group, renowned for its expertise in bacteria-based products, will allow us to bring Norofert technology to Brazil, replicating the successful model implemented in the US. In the first phase, we will certify 16 products under the Norofert brand for this new market.”

The project to access the Brazilian market began in August 2023, and the company Norofert Brasil LTDA was established this year. The new entity is owned 50% by Norofert S.A. and 50% by Engenutri Group, which has a turnover of EUR 30 million and is part of the PH2 Participacoes holding. 

Norofert Brasil LTDA will begin constructing the factory in November, and the work is estimated to be finalized in approximately two months. The 500 sqm space for the production line has already been contracted. The production capacity will be 15,000 liters/day, and the bacteria produced in the laboratory in Filipeștii de Pădure, Romania, will be utilized. 

The approval process for the product range under the Norofert brand that will be distributed in Brazil is expected to be completed by June 2025.

Norofert is a leader in regenerative agriculture research and one of the largest producers of inputs in Romania, founded in 2000 by the Popescu family. With a mix of business lines, the company has developed its production capacities in recent years in the areas of inputs and agricultural farming, lines that will see development in the coming years.

Norofert has been listed on the Bucharest Stock Exchange’s AeRO market since 2020. Since October 2021, its shares have also been included in the BETAeRO index.  

During the 4 years of activity in the capital market, Norofert raised RON 14 million through capital increases and RON 11.5 million through a private placement of corporate bonds. The company’s corporate bonds are traded​ ​on the AeRO market of the Bucharest Stock Exchange under the symbol NRF25 starting June 5, 2020.

irina.marica@romania-insider.com

(Photo source: Norofert)