Sime to invest RM97.7mil in US biotech company Verdezyne

President Barack Obama, standing right, and Malaysian Prime Minister Najib, standing left, applaud as Bill Radany, president & CEO of Verdezyne, right, and Tan Sri Dato' Seri Mohd Bakke Salleh, President & Group Chief Executive of Sime Darby Berhad, left, participate in the signing of major commercial agreements with American businesses at the Ritz-Carlton in Kuala Lumpur,

PETALING JAYA: Sime Darby Bhd is acquiring a substantial stake in United States-based industrial biotechnology company Verdezyne Inc to pursue strategic growth areas for its plantation business.

Sime Darby president and group chief executive officer Tan Sri Mohd Bakke Salleh said in a statement that “Sime Darby is taking strategically measured steps to build and nurture a sustainable portfolio of palm-related industrial biotechnology companies.