Syngenta to Acquire Sunfield Seeds
-- Expansion of sunflower supply chain capability
-- Access to top location for hybrid seed production
-- Sunflower a key growth driver for Diverse Field Crops
BASEL, Switzerland, Nov. 20, 2012 /PRNewswire/ -- Syngenta announced today that it will acquire Sunfield Seeds, a US-based provider of sunflower seeds production and processing services to more than 30 countries. The acquisition represents an important step in the implementation of Syngenta's sunflower strategy by strengthening supply chain capabilities to enable future growth.
Sunflower produces high value oil that is low in saturated fats. They are grown on around 25 million hectares globally. The sunflower seeds market is currently valued at around $1 billion of which more than 75 per cent comes from emerging markets, where the transition towards high-value hybrid sunflower seed continues.
Davor Pisk, Chief Operating Officer, said: "Sunfield is already one of our strategic suppliers and we are pleased that its people and operations will now become part of Syngenta. Sunfield's grower network in the key Sacramento Valley region as well as its modern processing facilities and experienced management team will complement our product range and global market strength. Above all, the acquisition will enhance our ability to meet growing demand for our high quality sunflower seeds."
The transaction is expected to close by the end of 2012. Financial details were not disclosed.
Syngenta is one of the world's leading companies with more than 26,000 employees in over 90 countries dedicated to our purpose: Bringing plant potential to life. Through world-class science, global reach and commitment to our customers we help to increase crop productivity, protect the environment and improve health and quality of life. For more information about us please go to www.syngenta.com.
Cautionary Statement Regarding Forward-Looking Statements
This document contains forward-looking statements, which can be identified by terminology such as 'expect', 'would', 'will', 'potential', 'plans', 'prospects', 'estimated', 'aiming', 'on track' and similar expressions.Such statements may be subject to risks and uncertainties that could cause the actual results to differ materially from these statements.We refer you to Syngenta's publicly available filings with the U.S. Securities and Exchange Commission for information about these and other risks and uncertainties.Syngenta assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.This document does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer, to purchase or subscribe for any ordinary shares in Syngenta AG, or Syngenta ADSs, nor shall it form the basis of, or be relied on in connection with, any contract therefor.
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