Nufarm Limited (ASX:NUF) has announced it will invest $9 million into expanding its production capabilities in America.
The agricultural chemicals supplier will next year open a new facility in Chicago to support growth in the fungicides, insecticides and seed treatment segments.
Managing Director Doug Rathbone says the company is targeting increased growth in these higher value market segments.
Shares in Nufarm fell 1.7 per cent following the announcement yesterday, closing at $4.62.
Nufarm posted a net profit of $18 million in the first half of its 2012 financial year.
