Kiotech International is to become known as Anpario PLC with effect from December 1 this year. The firm, which manufactures natural additives for animal feed, said the reason for the change is so that the name of the holding company is distinct from its trading companies and brands.
It will continue to trade through the customer facing brands of Optivite, Kiotechagil and Vitrition, which will coninue to focus on independently driving health, growth and sustainability in agriculture and aquaculture, it said.
Chief executive David Bullen told investors that the name change would reflect that the company's range of products was not limited to those under the Kiotech umbrella.
“We also feel the new name, created by a combination of ‘An’, the first syllable of animal and ‘pario’ from the latin to create produce or make, more accurately reflects our growing ambition in the global market for natural animal feed additives," he added.
The firm's TIDM/ticker will also be changed to ANP on December 1.
Optivite, which the firm bought in 2009, sells a number of products, which include vitamin mineral pre-mixes, enzymes, specialist fats, antimicrobials, organic feeds
During the past couple of years, Kiotech has been focused on the integration of Optivite and recently it said this integration was complete.
During the integration, Kiotech has taken the opportunity to make cost savings by, for example, closing down its Aldermaston facility and installing the customer service department of Kiotech’s Kiotechagil brand to Optivite’s Manton Wood site.
The firm is also continuing to make strides in China, where it has moved away from a direct sales approach in selling feed additives to large mills and in Brazil, it is now selling its acidifier products to some major integrators.
Meanwhile, Kiotech is continuing to target the aquaculture market with a range of products aimed at stimulating feeding within commercial fisheries.
Recent interim results for the half year to June 30 showed that in spite of a 16 per cent fall in revenues to £9.4 million during H1 2011 the firm’s profit before tax was up 32 per cent at £1 million (H1 2010: £786,000). It said that its fall in sales was a consequence of its strategic focus on higher-margin products and markets.
