Golden Valley, Minnesota
November 17, 2004
Syngenta announced today the next
steps of the integration of its newly acquired seed businesses.
To better align its recent acquisitions of 90% of both Garst and
Golden Harvest with its NK Seeds brand, the company will close
or reduce capacity at twelve seed corn and soybean seed
production locations and two field offices. Through this action,
Syngenta will recognize synergies in supply chain including
production, warehousing, and distribution while bringing new
choices to the seed industry.
Syngenta will continue to meet customers' needs with over 50
seed production facilities, research sites and customer service
centers located across the United States. John Sorenson,
President - Head of Global Corn and Soybean Seeds commented,
"Our objective is to run all of our production facilities closer
to their full capacity while aligning seed production with
demand. We will continue to provide the brands, products, and
service our customers expect and need from us."
The integration process and site closings will be complete as of
June 30, 2005 to allow affected employees time to transition.
The company will provide separation packages to all employees at
the facilities who are eligible for such benefits.
Garst, Golden Harvest and NK have a combined share of 15% in
corn seed and 13% share in soybean seed, and a combined corn and
soybean seed sales of 22 million acres*. "Our new, unsurpassed
line-up of traits, breeding and germplasm assets will provide
farmers greater choice in production management," explained
Sorenson.
Syngenta is the world-leading agribusiness committed to
sustainable agriculture through innovative research and
technology. The company is a leader in crop protection, and
ranks third in the high-value commercial seeds market. Sales in
2003 were approximately $6.6 billion. Syngenta employees some
19,000 people in over 90 countries. Syngenta is listed on the
Swiss stock exchange (SYNN) and in New York (SYT).
*Doanes 2003 Brand Market Share and proprietary information |