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Paracatu, Brazil
October 14, 2008
Dow AgroSciences LLC and
Coodetec announced
today a plan to obtain improvements for both companies through
the sale of Coodetec’s fixed asset in Paracatu, MG State, to Dow
AgroSciences and a potential technological collaboration
agreement. The addition of this asset will increase Dow
AgroSciences’ production capacity in Brazil. For Coodetec,
access to Dow AgroSciences technologies will allow greater
quality and technological level to its hybrids offered to the
market.
“Brazil is a critical component in our global corn seeds
strategy to reach US$ 1 billion in sales,” said Ev Germon,
president of Dow AgroSciences in Brazil. “The addition of this
production asset will complement our seeds business and will
provide increased reception and drying capacity in order to meet
sales growth.”
Under the agreement terms, Dow AgroSciences will acquire the
reception and drying facilities of hybrid corn of Coodetec´s
branch in Paracatu. The current resources of Dow AgroSciences in
Paracatu are located in an adjacent area to Coodetec. Effective
immediately, Celso Ribeiro, Dow AgroSciences’ current manager in
Paracatu, will lead both units as a consolidated operation.
“The sale of the fixed asset and the enabling of a collaboration
with Dow AgroSciences for germplasm and traits is an important
endeavor for Coodetec. Dow AgroSciences technology will help
expand the portfolio of the offered products and strengthen the
future for the businesses and customers of Coodetec,” said
Irineo da Costa Rodrigues, president of Coodetec. “In addition,
we are initiating the construction of new corn seeds production
facilities in order to meet Coodetec´s growth for the upcoming
years.”
Coodetec is a central cooperative of the technological
segment with 350 associated cooperatives in Brazil. Together
they have more than180 associated farmers and annual sales of
US$ 14 billion. Coodetec is one of the leaders in the soybean
seed market in Brazil with approximately 25 percent of market
share.
Dow AgroSciences LLC, based in Indianapolis, Indiana, USA, is a
top-tier agricultural company that combines the power of science
and technology with the "Human Element" to constantly improve
what is essential to human progress. Dow AgroSciences provides
innovative technologies for crop protection, pest and vegetation
management, seeds, traits, and agricultural biotechnology to
serve the world's growing population. Global sales for Dow
AgroSciences LLC, a wholly owned subsidiary of The Dow Chemical
Company, are $3.8 billion. |
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