Ghent, Belgium
December 16, 2008
Devgen (Euronext Brussels: DEVG) has reached a collective
labor agreement following negotiations with the social partners.
This agreement is a result of the previously announced intention
to close Devgen's pharma division. This closure will lead to the
employment of the 19 employees, active in this division, to be
terminated effective December 31, 2008.
Devgen is a public agricultural biotech and seed company
focused on developing and commercializing:
• biotech traits and hybrid seeds to meet the growing needs for
high yielding, high quality hybrid rice, sorghum, millet and
sunflower of the Indian and other South-East Asian markets;
• a novel generation of biotech products to protect a wide
spectrum of crops incurred from pests; to render crops more
tolerant against stress factors such as drought and salty soils
and to decrease the need for fertilizer use by optimizing
nitrogen uptake;
• a new generation of agrochemical products to protect crops
from damage inflicted by plant parasitic nematodes.
Incorporated in 1997, Devgen has offices in Ghent (Belgium),
Singapore, Hyderabad (India) and Delaware (US) and employs more
than 200 people worldwide. Devgen is listed on Euronext Brussels
(ticker: DEVG) since June 2005. |
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