Limagrain Genetics, Land O’Lakes and FFR Cooperative announce the formation of SOYGENETICS, LLC, a new soybean research company dedicated to the development of elite soybean varieties. SOYGENETICS, LLC will be headquartered at Lebanon, Indiana and will become fully operational on January 1, 2000.

Existing soybean research programs from each of the owners will serve as the foundation for the new company which will be the third largest soybean research company in North America. Germplasm, personnel and research equipment are being contributed to the LLC and facilities will be leased to the LLC from the parent companies. Research stations will operate at Lebanon, Indiana; Chatham, Ontario; Fort Dodge, Iowa; Mount Vernon, Illinois and Jackson, Tennessee.

"This consolidation combines valuable germplasm that provides a broader base for improvement of yield, standability and disease resistance while incorporating valuable new technologies," says Bruno Carette, President and CEO of Limagrain Genetics Corp. "With single varieties being the initial point for introduction of broadly utilized technologies there are risks in narrowing the germplasm base for soybean production. This organization improves our ability to give broader based germplasm to our customers."

"The combined sales volume of the owners of SOYGENETICS will significantly enhance our ability to deliver high quality seed and value enhanced traits," reports Dave Seehusen, Vice President, Land O’Lakes Seed Division. "With germplasm and plant breeding programs stretching from Canada to the Gulf of Mexico, we can now partner with any technology originator to deliver traits over the entire North American soybean market."

Greg Adlich, acting Chairman of the Board of FFR Cooperative and vice President of Southern States Cooperative’s Crops Division concurs. "We must offer our soybean growers products that compete both in cost of production and value to the world market. We are now in a much stronger position to provide new opportunities while protecting the interests of our soybean producers."

Dr. Stephen J. Baluch will become chief executive of SOYGENETICS LLC. Dr. David Webb will serve as research director with Dr. Steve Robinson carrying responsibility for eastern and southern territories from Lebanon and Dr. Drew Ivers being responsible for the western and northern areas from the Fort Dodge station

"Infusion of value added traits into soybeans has challenged plant breeder’s focus on improving performance while rapidly incorporating traits," explains Dr. Steve Baluch, CEO of SOYGENETICS. "We will now possess the critical mass in plant breeding to make traditional improvements while incorporating new traits. We also plan to develop enhanced breeding schemes to make it all more efficient and timely."

Resulting products from the combined research effort will be available to each participant on an equal basis. Opportunity to offer products into the seed trade is being evaluated and a strategy will be announced later.

Limagrain Genetics Corporation in Peoria, Illinois is the US based subsidiary of Groupe Limagrain, a global seed supplier based in Chappes, France. Limagrain Genetics Corporation is the marketer in the US of the Callahan and LG brands of soybeans. Groupe Limagrain also owns Limagrain Genetics Inc. in Chatham, Ontario, marketer in Canada of Pride Seeds/Semences Pride. Groupe Limagrain is owned by 600 French farmers and is the leader of the European seed industry, ranking number four at the world level. Limagrain has entered various strategic alliances with key players in the areas of plant genetics and life sciences worldwide.

Land O’Lakes is a national farmer-owned food and agricultural cooperative, with sales in all fifty states and more than 50 countries. Land O’Lakes provides farmers and local cooperatives with an extensive line of agricultural supplies (feed, seed, plant food and crop protection products) and services. It is also a leading marketer of a full line of dairy-based consumer, foodservice and food ingredient products across the U.S. and serves its international customers with a variety of food and animal feed ingredients.

FFR Cooperative, based in West Lafayette Indiana is an interregional cooperative with four regional cooperative members. Southern States Cooperative, Richmond Virginia; Tennessee Farmers Cooperative, LaVergne, Tennessee; Growmark, Inc., Bloomington, Illinois and Land O’Lakes, Arden Hills, Minnesota comprise the ownership base for the plant breeding, product management and sales support functions performed by FFR.

Company news release
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