Enzyme supplier Novozymes reported that sales in its Bioenergy division decreased by 6% organically in the Jul/Sep 2015 quarter. Sales suffered from weaker demand from the US ethanol sector which recorded a 3% y/y decline in output in Q3 2015 and which therefore focused on cost reduction. For Jan/Sep 2015, the company reported Bioenergy sales of DKK1.927 bin ($1=DKK6.57), up 18% on the year. However, organic growth was only 1%. Novozymes estimated a decline in US ethanol production by 4% on the year for the first nine months of 2015.
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