Isagro opens R&D plant in Italy
Italian agrochemical company Isagro (Milan) has opened a research and development facility in Novora, near Milan, Italy. The centre measures some 9,400 m2, including 2,250 m2 of laboratory space, 1,370 m2 of greenhouse, and 750 m2 of manufacturing plant. The location is at the heart of Italy’s traditional chemistry research hub, the company says. Isagro is to invest most of its €50 million ($53 million at the current rate) planned R&D funds for the next four years in the facility. The move is part of the company’s goal of achieving more of its own developed proprietary products towards an annual turnover for the business of €200 million ($214 million) by 2018 against the recent €150 million ($160 million). The company boats that it is following in traditions of Italian chemical and agrochemical research with funding of 10% of turnover in R&D, placing it as Italy’s principal agrochemical new active ingredient development company. It further hopes to become a pioneer in Italian R&D partnered with control of its company through innovative financial instruments to fund the research.