Sime Darby taking stake in US industrial biotech Verdezyne

KUALA LUMPUR: Sime Darby Bhd is taking a stake in US-based industrial biotechnology company, Verdezyne Inc. to pursue strategic growth areas for its plantation business.

The conglomerate said on Monday a new unit, Sime Darby Renewables under its plantations unit, would spearhead this initiative to focuses on converting traditional and non-traditional palm-based commodities into products of higher value.