Novozymes Gains on Brazil Enzyme Speculation: Copenhagen Mover
Novozymes A/S (NZYMB), the world’s largest maker of enzymes, traded at the highest price in a month in Copenhagen on speculation it will boost sales in Brazil.
Novozymes rose as much as 3 percent to 159.20 kroner, the highest since April 24. The stock advanced 2.9 kroner, or 1.9 percent, to 157.50 kroner at 10:01 a.m. in the Danish capital.
Graal Investimentos SA’s biofuel unit said yesterday it will build five plants in Brazil to produce ethanol from sugar- cane residues. Bagsvaerd, Denmark-based Novozymes said it will also build new facilities in the South American country because it will supply the five plants with enzymes.
Novozymes reported on April 25 a 9 percent decline in first-quarter sales, measured in local currencies, in part because its ethanol-producing clients used fewer enzymes.
To contact the reporter on this story: Gelu Sulugiuc in Copenhagen at gsulugiuc@bloomberg.net
To contact the editor responsible for this story: James Ludden at jludden@bloomberg.net
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