Converted Organics and Rentech Seek to Reshape Agricultural Chemicals Sector
NEW YORK, NY–(Marketwire – 05/27/11) – Companies in the Agricultural Chemicals industry appear to be poised to post a surge in revenues as farmers intend on planting more corn and wheat to take advantage of higher prices. The argument is that farmers will need the best fertilizers and other agricultural inputs in hopes of producing the largest yields possible. Therefore, the companies that are selling products to the farmers are expected to profit. The Bedford Report examines the Agricultural Chemicals Industry and provides research reports on Converted Organics, Inc. (NASDAQ:COIN – News) and Rentech, Inc. (AMEX:RTK – News). [wikichart align="right" ticker="RTK" showannotations="true" livequote="true" rollingdate="3 months" width="300" height="245"]
The US agricultural chemicals manufacturing industry includes approximately 700 companies with combined annual revenue of $30 billion. Companies in the industry manufacture fertilizers, herbicides and insecticides, or produce fertilizer or pesticide mixtures. According to Research and Markets, fertilizers account for about 55 percent of industry revenue, pesticides for about 45 percent. Fertilizers are a handful of commodity chemicals that contain nitrogen, phosphorous, or potassium. Pesticides are a broader group of chemicals, but many of the biggest sellers are also commodity products.
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Converted Organics states that its mission is to “promote, develop and operate profitable innovative clean technologies that contribute to the improvement of our environment by use of sustainable business practices and the judicious use of natural resources.” The company’s organic liquid fertilizers are presently being tested on grain seed treatment in Idaho and Washington.
Also focusing on clean energies, Rentech’s biomass gasification process can convert multiple biomass feedstocks into synthesis gas for production of renewable fuels and power. For the second quarter of fiscal year 2011, Rentech reported revenue of $23.6 million, up from $19.2 million for the comparable quarter in the prior year.
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