Canberra, Australia and Saskatoon,
Saskatchewan, Canada
April 3, 2006
The Grains Research & Development Corporation (GRDC) and
Canadian firm Philom Bios
Inc. (PBI) are pleased to announce the formation of Philom
Bios Australia Pty Ltd (PBA).
"PBA is a sales, marketing and technology development company
delivering to Australia's agricultural market high value
inoculants," said GRDC Chairman Terry Enright.
Philom Bios and GRDC will each hold a 50% interest in the new
company and have jointly committed to provide approximately $AUS
1 million to support the start up phases of operations.
Mr Enright said, "The GRDC are pleased to partner with
internationally recognised Philom Bios in this new joint
venture.
"PBA is not only an excellent way to introduce Philom Bios'
inoculant products to the Australian grower, but it is also an
optimum development vehicle to commercialise the growing list of
emerging technologies supported by GRDC and its research
partners.
"Importantly, PBA will bring long-term pay back to the
Australian grains industry by introduction of these technologies
to all markets."
Mr. Sanford Gleddie, PBI's Vice President Research and Business
Development, comments, "This investment is the logical next step
to our collaborative R&D efforts with GRDC and a further measure
of our resolve to pursue growth in global markets.
"Our field trials in Australia have established the efficacy of
our current inoculant products, and we are excited about the
benefits our current and future inoculant technologies will
bring to farmers in Australia."
GRDC Executive Manager New Products, Vince Logan, states, "Under
the terms of the agreement, PBA will hold an exclusive license
to market and sell all Philom Bios products in Australia as well
as selected other markets.
PBI receives an exclusive right to manufacture and commercialise
all PBA technologies in Canada, the United States, and other
world markets.
RELATED RELEASE:
- Philom Bios and GRDC announce CEO
for Australian joint venture (June 06)
-
GRDC and Philom Bios join forces to
develop high-value inoculents in Australia (June 06)
Other news from Philom
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