Genus PLC
14 December 2004
For Immediate Release 14 December 2004
Genus plc
Contract Win
Genus plc ('Genus') the Global bovine genetics company announces that it has won
the first of a series of new contracts to supply an Iraqi wholesale company with
bull semen.
Genus beat competition to re-open the supply of semen through the Iraqi
wholesale company HMBS, (M. Mahmood J.Al Bunnia and Sons Company), which is one
of the largest private sector companies in Iraq with bull semen. HMBS has been
appointed as the Genus exclusive distribution agent in Iraq. Besides being a
major civil engineering contractor, HMBS operates a 6,000 cow dairy and acts as
an agricultural wholesaler.
The Iraqi market, although small by European standards is both fast growing and
highly priced. The first order of 5,000 doses has already been cleared by the
reconstruction authority in Iraq and an import permit into Iraq is being
approved.
Middle East regional sales have increased this year by 25% to $1million. New
agents have been appointed in Tunisia and sales to Iran are increasing. The
Iran market comprises 2 million cows, similar in size to that in the UK. Sales
have grown by 30% there. By contrast, Iraq is a small market with only 40,000
cows. However, it comprises top farmers who are seeking the very best genetics
so that prices are high.
Richard Wood, Chief Executive of Genus, commented:
'I am delighted to announce that Genus has won this small, but prestigious,
contract to supply HMBS in Iraq. As our new agents, we are looking for a
growing business relationship, in line with our stated strategy of growing the
business of our bovine genetics division into new markets throughout the world.'
Contact:
Richard Wood Chief Executive Tel: 01256 347101
David Timmins Finance Director Tel: 01256 347102
Charles Ryland/Suzanne Brocks Tel: 020 7466 5000
Buchanan Communications
This information is provided by RNS
The company news service from the London Stock Exchange
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