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Wood Mackenzie Sells Crop Protection Business to Cropnosis

Edinburgh, UK - 5th August 2003 - Wood Mackenzie, the premier international energy and life sciences research and consulting firm, announced today that it has sold its Crop Protection business to a new company called Cropnosis Limited.



The Crop Protection business, which specialises in the agrochemical and agricultural biotechnology sectors, has been a core part of Wood Mackenzie's Life Sciences research and consulting business for over 26 years.

In a buy-out led by former Wood Mackenzie consultants, Dr. Kin Cheung and Gautam Sirur, Cropnosis has acquired the rights to all Crop Protection business analysis products and databases, including the highly respected Agrochemical Service, the industry's leading reference source since 1977. The deal includes all the IPR, goodwill, resources, assets, and ongoing contracts, ensuring full continuity of service to clients.

Cropnosis' key focus is the delivery of specialist research and knowledge-based market intelligence, dedicated to the agrochemical and agricultural biotechnology sectors. Gautam Sirur, Director and Principal Consultant of Cropnosis said, "Our product is centred on the Agrochemical Service, which has recently been restructured and enhanced to meet clients' requirements. With Cropnosis, clients will benefit from increased flexibility, timeliness and thought leadership, whilst maintaining our high quality knowledge-driven research capability. Strategic and ad hoc consulting to meet the demands of the rapidly changing structure of the industry will also form a key part of the business going forward".

"The decision was taken earlier this year after the Crop Protection team approached Wood Mackenzie management with a proposal to buy out the Crop Protection business. We could both see that there were major advantages for the Crop Protection team, Wood Mackenzie and especially for our clients, in agreeing to this move. The high degree of industry consolidation and specialisation, with changes in the structure of the market, has resulted in crop protection companies taking their own direction, away from the Life Sciences groups. This could be mirrored in the consulting service industry too, where there is less of a strategic fit with the human and animal health consulting services. For the Crop Protection team, there were few real commercial synergies that could continue to be leveraged from being part of Wood Mackenzie," said Jim Hall - President, Life Sciences.

Cropnosis Limited will remain based in its current Edinburgh office until the end of the year, when new premises will be sought.

Further Information

Cropnosis
www.cropnosis.com
Gautam Sirur
Director
Tel: +44 (0)131 243 4270
Email: gautam.sirur@cropnosis.com
  Kin Cheung
Director
Tel: +44 (0)131 243 4474
Email: kin.cheung@cropnosis.com
 
Wood Mackenzie
www.woodmac.com
Kirsten Oosterhof
Marketing & Communications
Tel: +44 (0)131 243 4244
Email: kirsten.oosterhof@woodmac.com

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