Norofert SA holds a 99% stake in Norofert USA, LLC, while Vlad Popescu, the president of the board and shareholder at Norofert SA holds 1%.
“Setting up the legal entity in the United States is just a step in the process to enter the American market. We have been prospecting the market and although the legal compliance process took longer than expected, we are close to finalizing it and it will allow us to sell Norofert products in 19 US states,” Norofert CEO Vlad Popescu told Ziarul Financiar.
Norofert’s expansion into the US market continues, as the company is currently in the process of registering with the IRS (Internal Revenue Services).
Norofert aims to sell the first products in the US during this autumn’s campaign, subject to prior field tests of products specially formulated for the American market.