"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "

Chinese premier Wen Jiabao 12th March 2009

""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."

Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Thursday, April 26, 2007

Novozymes show big sales growth with rising profits

Danish company Novozyme are leaders in producing the enzymes required in bio-mass breakdown for producing bio-ethanol. However rising living standards in Asia and the growth of sales of washing machines means sales of detergent enzymes is a fast growing market as well. Detergent enzymes replace petrochemical ingredients which have increased in cost and enzymes are biodegradeable making them more envirnmentally and consumer friendly.

Novozymes was awarded a contract from the US National Renewable Energy lab (NREL) to reduce the cost of enzymes for cellulosic ethanol. In a 5 year period they succeeded in reducing costs significantly, to a position where enzyme costs are no longer a significant cost.

Compared with last year , worldwide, Q1 Sales grew by 18%, operating profit by 15%, and net profit for the period by 30%, with earnings per share rising by 34%.

During the year both the President of the United States and The Secretary of State Condileeza Rice have met with senior staff and visited plants in the USA.

For other postings on Novozyme go here

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