Novozymes A/S (NZYMB) Chief Executive Officer Steen Riisgaard said growth in demand for enzymes used in household detergents will help the company meet a target for increasing sales by 4 percent to 8 percent this year.
Biofuel production fell short of predictions in the first quarter, curbing sales of the enzymes needed to break down the crops used in the process. Enzyme-use in detergents, food products and animal nutrition is advancing and demand will compensate for any shortfall in biofuel, Riisgaard said in an interview in London yesterday.
“I’ve been in the business 32 years and I’ve yet to see a year when everything goes exactly as planned,” Riisgaard said. Depending on the economic conditions, Novozymes’s sales growth will likely be around the middle of the target range, he said.
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