Norofert announces the signing of the first distribution contract for 3 states in the USA

Bucharest, April 9^th, 2024 – Norofert, the leader in regenerative agriculture research and one of the largest input producers in Romania, listed on the Bucharest Stock Exchange on the AeRO market (BVB symbol: NRF), announces the conclusion of a product distribution agreement with one of the most important distributors in Watertown, South Dakota, USA. The distribution agreement covers the South Dakota, North Dakota, and Minnesota regions.

Vlad Popescu, President of the Board, Norofert:

“We are committed to continuing to strengthen our presence in the US market and have signed a first contract with an important local distributor. To focus our resources and efforts efficiently, we have decided to collaborate with a distributor specialized in our product area, from the Midwest region. Under this contract, we will cover three agriculturally important states, committing to providing demonstration batches for the promotion of our products as well as technical expertise. By offering samples and practical demonstrations, we will highlight the benefits and quality of our products, building long-term partnerships with customers.”

The project for Norofert to access the US market began in 2020, during which the company made significant strides, such as the homologation of a range of products, certified field testing, and the creation of a product portfolio with growth potential in the American market. Recently, Norofert announced the start of a production line for inputs and an investment of EUR 250,000 in one of the most important agricultural areas in the USA. The production will focus on the soil health and foliar nutrition range, similar to that in Romania, and will use bacteria produced in the Filipeștii de Pădure laboratory. The investment will be carried out through Norofert AG, based in Watertown, South Dakota, in partnership with Gary Lamb, an entrepreneur with over 30 years of experience in Midwest agribusiness, with extensive knowledge of the market and farmers in the area. The construction of the production line is scheduled to begin in April.

 

About Norofert:

Norofert is the leader in regenerative agriculture research and one of the largest producers of inputs in Romania, founded in 2000 by the Popescu family. In the midst of expanding the production facilities to support sustainable agricultural practices, internationally, Norofert demonstrates commitment to the goal of climate neutrality and the ability to innovate in an area crucial to the future of agriculture and food security.

With a mix of business lines, Norofert has developed in recent years its production capacities both in the area of inputs and agricultural farming, lines that will see development in the coming years. With 65 products in its portfolio, the company caters to both conventional and organic farmers, with a new niche of liquid conventional products in growing demand.

From 2020 the company is listed on the Bucharest Stock Exchange on the AeRO market and from October 2021 Norofert shares are included in the BETAeRO index. During the 4 years of activity in the capital market, Norofert raised 14 million lei through capital increases and 11.5 million lei through a private placement of corporate bonds. The company’s corporate bonds are traded​ ​on the AeRO market of the Bucharest Stock Exchange under the symbol NRF25 starting June 5th, 2020.

For more information, we invite you to visit www.norofert.ro.