Ireland-based agrichemicals giant Arysta LifeSciences admits to carrying significant debts equaling $1.9 billion as of June. The financial situation is contributing to a string of losses for the company, has limited the company’s operations and planning options, and has placed it at a disadvantage in comparison to its competition. A report filed by Moody’s earlier this year gave public insight into the company’s financial situation prior to a proposed initial public offering (IPO). The filing indicated that Arysta raised sales by 3.3% to $1.58 billion in 2013 on the strength of its Latin American market which increased 12.8% to sales of $624.3 million reflecting the release of 25 new products and the increase in soybean acreage and infestations. Sales in the company’s second biggest division – its African and Western Europe markets, saw sales fall 0.1% to $300.8 billion on shifting exchange rates and sales in North America fell by 6.7% to $187.8 million due to a shift away from agrichemicals to higher value markets. The company’s Life Sciences division which is focusing on products to increase honey bee health saw a rise in revenue to reduce losses by 39% to $93.4 million but was not enough to lift the company out of the red. Arysta has been said to have a valuation of $4 billion including debt at a floatation which could raise $500 million and will likely occur before the end of 2014.
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