(Alliance News) - Eden Research PLC said Thursday that its commercial partner, Eastman Chemical Co, has received full authorisation for Eden's nematicide formulation, marketed as Cedroz in Mexico.
The sustainable crop protection and animal health firm said following the authorization, the access is now gained into the all-important US agricultural import market.
"Approval is the first for Eden developed products in Mexico and a foothold into the Americas," the company said.
Sean Smith, chief executive officer of Eden, said: "The market opportunity in Mexico is significant for Eden and Eastman thanks to the demand for residue-free fruit and vegetables by U.S. consumers."
"Eastman will now embark on a roll-out of Cedroz in the coming year, which includes extensive live trials under local conditions to determine the best possible use of Cedroz in different scenarios and for a range of crops," Smith said.
Eden shares closed 9.6% higher in London at 8.55 pence each on Thursday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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