Sigma-Aldrich, Metahelix partner on plant biotech

The company did not disclose financial details of the deal. The support will be carried out at Metahelix's existing facility, located next to Sigma-Aldrich's manufacturing and distribution center in Bangalore, India. It will also allow Sigma-Aldrich to provide support for its customers throughout the Pacific Rim and Latin America.

Metahelix is an agricultural biotech company based in India.

"The plant biotechnology market is growing rapidly in Latin America and Asia as biofuels and the rapid expansion of urban centers drives increased demand for higher productivity crops," said Susan Riley, director of international business at Sigma-Aldrich. "This partnership with Metahelix is expected to enable us to support our customers with practical guidance by a firm that works with a number of different species of plants."

Shares of Sigma-Aldrich rose $2.03, or 3.9 percent, to close at $54.46. The stock has traded between $42.67 and $63.04 over the last 52 weeks.