Cheminova agchems up 5% in third quarter
Cheminova recorded a 5.4% increase in third-quarter agrochemical sales to DKK 1,475 million ($265 million at the current rate). Revenues were impacted by negative exchange rate fluctuations of 13% or DKK 190 million ($34 million). The divestment of Stähler Switzerland, the Swiss operation of Cheminova's German subsidiary, Stähler, during the first quarter (Agrow No 657, p 3) had an impact on third-quarter revenues of DKK 20 million ($4 million). Lower than usual insect pressure towards the end of the season in North America had a further dampening effect on sales.