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Simultaneous acquisition of two U.S. lettuce seed companies lays strong foundation for growth Acquired lettuce gene pool strengthens worldwide development portfolio
BASEL, Switzerland, Nov. 12 /PRNewswire-FirstCall/ -- Syngenta announced today the signing of agreements to acquire two U.S.-based lettuce seed companies: Synergene Seed & Technology, Inc. and Pybas Vegetable Seed Co., Inc. The acquisitions will establish a significant position for Syngenta in the North American lettuce market and will broaden its lettuce development portfolio in Europe and Asia.
"The acquired companies are highly complementary and combine a broad and deep range of proprietary germplasm with excellent breeding and production capabilities," said Davor Pisk, Chief Operating Officer Syngenta Seeds. "Syngenta's technology platform will allow us to optimize these strengths and to provide a compelling product offering to growers in North America and internationally."
Synergene Seed & Technology, Inc. is a lettuce seed company based in Salinas, CA, with a diverse and proprietary lettuce gene pool. Pybas Vegetable Seed Co., Inc., based in Santa Maria, CA, is well-known for its quality seed production and processing as well as its germplasm. Both companies will be integrated into the Syngenta Vegetables business.
The lettuce seed market is valued at around $160 million globally.
No financial details of the transaction have been disclosed.
Syngenta is one of the world's leading companies with more than 24,000 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 http://www.syngenta.com/ or http://www.growmorefromless.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.
Syngenta International AG
Media Office
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Switzerland
Tel: +41 61 323 23 23
Fax: +41 61 323 24 24
Media contacts:
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Paul Minehart
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Analyst/Investor contacts:
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Switzerland +41 61 323 5059
USA +1 202 737 6521
John Hudson
Switzerland +41 61 323 6793
USA +1 202 737 6520
DATASOURCE: Syngenta
CONTACT: Syngenta International AG Media Office, Tel: +41-61-323-23-23,
Fax: +41-61-323-24-24, Media: Medard Schoenmaeckers, Switzerland,
+41-61-323-2323, or Paul Minehart, USA, +1-202-737-8913; Analysts/Investors:
Jennifer Gough, Switzerland, +41-61-323-5059, or USA, +1-202-737-6521, or John
Hudson, Switzerland, +41-61-323-6793, or USA, +1-202-737-6520, all of
Syngenta
Web Site: http://www.syngenta.com/
http://www.growmorefromless.com/