Indianapolis, Indiana
August 1, 2007
Dow AgroSciences, a wholly owned subsidiary of The Dow
Chemical Company, announced today that it will substantially
expand its Brazilian corn seeds business with the acquisition of
Agromen Tecnologia Ltda.
"The acquisition of this premier seeds business reflects Dow's
commitment to grow its Agricultural Sciences activities
globally. This is another example of Dow's commitment to
pursuing strategic investment opportunities that drive value
growth in the Company's downstream performance businesses and in
rapidly growing geographies," said Jerome Peribere, Dow
AgroSciences president and chief executive officer.
"The expanded seed platform that we are building with both this
acquisition and the recent acquisition of assets of the
Europe-based corn germplasm provider
Maize Technologies
International will enable us to leverage superior Dow and
Dow AgroSciences input and output traits in key crops around the
world, for both agricultural and industrial uses," Peribere
noted.
The agreement includes all commercial, production, and research
and development assets of the corn seeds business of Agromen, a
Brazilian company with 35 years of operations and a solid base
of hybrids for Brazilian agriculture.
Brazil is the third largest corn-planting nation in the world.
Agromen will provide new opportunities for sales of
Herculex™Insect Resistance corn, now awaiting Brazilian
regulatory approvals. Dow AgroSciences’ Brazilian corn seed
business has shown steady growth in recent years due to new,
highly performing hybrids, and Agromen will make the Company a
more effective competitor in this important agricultural sector.
Financial terms of the agreement were not disclosed.
Dow AgroSciences LLC, based in Indianapolis, Indiana, USA, is
a top tier agricultural company providing innovative crop
protection, pest and vegetation management, seed, and
agricultural biotechnology solutions to serve the world's
growing population. Global sales for Dow AgroSciences, a wholly
owned subsidiary of The Dow Chemical Company, are $3.4 billion.
Learn more at www.dowagro.com.
Dow is a diversified chemical company that harnesses the power
of innovation, science and technology to constantly improve what
is essential to human progress. The Company offers a broad range
of products and services to customers in more than 175
countries, helping them to provide everything from fresh water,
food and pharmaceuticals to paints, packaging and personal care
products. Built on a commitment to its principles of
sustainability, Dow has annual sales of $49 billion and employs
43,000 people worldwide. References to “Dow” or the “Company”
mean The Dow Chemical Company and its consolidated subsidiaries
unless otherwise expressly noted.
™Trademark of Dow AgroSciences
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