May 29, 2012

Norway's Agrinos' turnover up in 2012

A US$9.40 million turnover in the first quarter of 2012 has been reached by Norwegian producer of fertiliser additives Agrinos, compared to US$24.1 million for the whole of 2011.

The operating loss was reduced to US$200,000. Agrinos CEO Tome Einar Jensen expects more than a doubling of the turnover in 2012, following high orders.

It had a breakthrough for its shrimp shell based fertiliser additive in 2011, when it signed a contract with the authorities in Mexico.

This will give it an annual turnover of NOK1.60 billion (US$266.82 million) in the next 10 years. It has also secured contracts in Brazil and China, but these are smaller.