Synthomer Np Discussion Threads

[ariane] 16/2/2006 17:40

Helvea Reinitiates Syngenta At Accumulate

Thursday, February 16, 2006 9:44:31 AM ET
Dow Jones Newswires



1329 GMT [Dow Jones] Helvea reinitiates coverage of Syngenta (SYT) with accumulate and a CHF206 price target as its growth drivers look set to deliver. Says the company targets further market share gains, an increase in selling prices, and continued strong growth in Eastern Europe. Also the pipeline of biotech traits looks attractive, with the targeted nine launches until 2008 to 2010. Trades +1.8% at CHF182.50. (SWZ)

[ariane] 16/2/2006 06:38

Goldman Lifts Syngenta Target To CHF210

Wednesday, February 15, 2006 8:19:21 AM ET
Dow Jones Newswires



1150 GMT [Dow Jones]--Goldman Sachs lifts Syngenta (SYT) fair value target to CHF210 from CHF200, increases '06 EPS estimate to $8.69 from $8.40, ups '07 EPS estimate to $9.58 from $9.08 due to extended cost cutting. Says shares are trading at a 2.6% premium to the sector, but "given the strength of earnings and cash growth, we believe that a larger premium is justified. Shares -0.1% at CHF180.80. (SWZ)

[waldron] 10/2/2006 17:08

Deutsche Bank Lifts Syngenta Target To CHF200

Friday, February 10, 2006 8:29:33 AM ET
Dow Jones Newswires



1215 GMT [Dow Jones] Deutsche Bank increases Syngenta's (SYT) price target to CHF200 from CHF175 after a strong earnings report. Repeats buy rating. Bank says Syngenta is its preferred chemicals stock alongside Bayer (BAY). Shares trade +7.5% at CHF191.30. (MGE)

[waldron] 10/2/2006 10:26

Credit Suisse Lifts Syngenta Target

Friday, February 10, 2006 5:13:39 AM ET
Dow Jones Newswires



0853 GMT [Dow Jones] Credit Suisse raises Syngenta (SYT) target to CHF175 from CHF162, following earnings Thursday. Cites three reasons, namely announced additional cost savings, lower than expected tax rate, and a higher than forecast buyback program. Keeps at neutral. Shares +4% at CHF185. (HJS)

[waldron] 09/2/2006 16:45

Syngenta Gains On Buyback, Outlook

Thursday, February 09, 2006 11:29:06 AM ET
Dow Jones Newswires



1503 GMT [Dow Jones] Syngenta (SYT) +7.1% to CHF178.8 as investors welcome a planned share buyback of $800M via put-options and a nominal value reduction, as well as a strong outlook. "The buyback is great news but investors like the total package; good corporate figures, a strong outlook and a buyback," says a dealer. Another dealer notes the rise wasn't spurred by derivatives buying or by covering short positions, but rather their bullish outlook comments. However, he warns the stock looks overbought and might correct toward the close. (GOM)

[waldron] 09/2/2006 11:58

Syngenta FY Solid, Premium Merited-M Stanley

Thursday, February 09, 2006 5:28:52 AM ET
Dow Jones Newswires



0904 GMT [Dow Jones]--Syngenta (SYT) 05 results are solid, with its increased cost-reduction program and the clear guidance for strong earnings growth until 2008, says Morgan Stanley. "We think the stock clearly merits its premium rating to the sector" due to its free cashflow generation, even though it isn't inexpensive any more says the bank. Keeps overweight rating with CHF150 target. Shares +1.6% CHF169. (SWZ)

[waldron] 09/2/2006 06:28

Syngenta Full Year Results 2005

BASEL, Switzerland, Feb. 9 /PRNewswire-FirstCall/ --

'Strong growth reinforces leadership position'

- Sales up 11 percent to $8.1 billion; up 9% CER(1)

- Earnings per share(2) up 31 percent to $7.67

- Crop Protection sales up 3 percent(1) to $6.3 billion

- New products up 22 percent(1) to $847 million

- Seeds sales up 42 percent(1) to $1.8 billion; up 9 percent(1) ex acquisitions

- Operational cost savings target increased from $300 million to $425 million by 2008

- Free cash flow(3) $703 million, before pension fund injection

- 2006 cash return $800 million(4): increased dividend, share repurchase via put option

Financial Highlights

Excluding Restructuring, Impairment and As reported Discontinued Operations(5) under IFRS(5)

2005 2004 Actual CER(1) 2005 2004 $m $m % % $m $m

Sales 8104 7269 +11 + 9 8104 7269 Net Income(6) 779 623(7) [phone] Earnings per Share $7.67 $7.19 +7 $6.13 $4.34 Earnings per Share(2) before one-off tax credit $7.67 $5.87 +31

Michael Pragnell, Chief Executive Officer, said:

"In 2005, Syngenta delivered another year of growth across the business. In Crop Protection continued new product momentum helped to drive market share gains and reinforced our leadership position, notably in the USA; Eastern Europe once again delivered double digit growth and in Latin America performance was robust despite more challenging conditions in Brazil. Progress in Professional Products was driven by the continuing success of our Seed Care portfolio. Seeds also achieved strong growth: in their first year post acquisition the corn and soybean businesses, GARST(R) and GOLDEN HARVEST(R), performed well, reinforcing a strong underlying performance; Vegetables seeds maintained its growth record of the last six years. Our continuing focus upon cost and capital efficiency combined with strong sales growth led to increased earnings and further improvements in financial ratios."

Highlights for 2005

Sales at constant exchange rates (CER) increased by nine percent; excluding the impact of acquisitions they were four percent higher. Full year Crop Protection sales were up three percent; Seeds sales rose by 42 percent, up nine percent excluding acquisitions.

EBITDA improved by seven percent (CER) to $1.55 billion benefiting from the growth in sales and savings from the operational efficiency program. These savings more than offset the impact of higher oil price related costs and funded increased marketing and development expenditure in both Crop Protection and Seeds.

Earnings per share, excluding restructuring and impairment rose 31 percent to $7.67; excluding the goodwill adjustment for IFRS 3, earnings per share were up 20 percent. After charges for restructuring and impairment, earnings per share were $6.13 (2004: $4.34).

Currency: For the full year, currency movements had a positive impact of two percent on sales owing to US dollar weakness in the first half. Appreciation of the dollar in the second half resulted in a full year currency benefit of $51 million to EBITDA.

Crop Protection: New products continued to expand with sales up 22 percent(8) to $847 million driven by the CALLISTO(R) range ($387 million) and ACTARA(R)/CRUISER(R) ($346 million). In NAFTA sales grew across all product lines. Sales in Europe also improved in the fourth quarter after a cold early season followed by drought in southern Europe; Eastern Europe maintained its record of double-digit growth. In Latin America, an improvement in the second half in Brazil and a strong performance in Argentina resulted in modest growth for the full year. Asia-Pacific increased sales in a number of markets, notably China and Japan. The new product range will be augmented by eight new active ingredients targeted for launch by 2012 which have a combined peak sales potential of around $1 billion. The first of these products, the cereal herbicide AXIAL(R) and seed treatment AVICTA(R) will be launched for the 2006 season. EBITDA in Crop Protection increased by one percent (CER) to $1513 million, with sales growth and cost savings more than offsetting the impact of higher oil price related costs and increased marketing expenditure.

Professional Products sales rose eight percent* with strong growth in Seed Care supplemented by a good performance in Lawn and Garden. In Seed Care an agreement was signed with the leader in US cotton seed to market AVICTA(R) for the 2006 season; and a new Seed Care Institute will be constructed by 2007 which will accelerate the introduction of novel seed treatments and associated services. In Lawn and Garden, a strategic alliance was formed with COMPO(R) in Europe to develop and market a comprehensive range of consumer plant protection products, with first launches expected in 2006.

Seeds: Sales increased in all regions. In corn and soybean, the successful first season of GARST(R) and GOLDEN HARVEST(R) in the USA, coupled with a strong performance from NK(R) led to sales more than doubling. The input trait pipeline for corn, comprising glyphosate tolerance, corn rootworm and corn borer insect control, is progressing well, and a full offer including stacked traits is targeted for 2008 in the USA. Diverse Field Crops also performed strongly, partly benefiting from increased demand for biofuels. In Vegetables, demand for fresh produce continues to expand and sales showed strong growth in both the Americas and Asia, driven by a wide variety of new launches. Flowers sales declined slightly for the full year although recovered somewhat in the second half. EBITDA in Seeds more than doubled to $148 million as underlying profitability was augmented by the contribution from acquisitions.

Plant Science: In enzymes, sales of QUANTUM(TM) were made in Mexico, with registration pending in the USA. Amylase for corn bioethanol is undergoing pilot trials and US registration dossiers have been submitted. Work on plant-produced pharmaceutical compounds progressed in 2005 to the stage of clinical trials; however, in view of the extended time lines and associated costs of full commercialization it has been decided to seek third parties to take these projects through development to commercial launch. Resources released in R&D will be redirected to other businesses.

Operational efficiency: Savings in 2005 were ahead of target at $166 million. These savings more than offset the impact of higher oil prices on raw materials costs ($96 million) and funded additional marketing and development expenditure ($79 million). The previously announced savings target of $300 million by 2008 has been increased to $425 million. It is expected that these savings will more than offset higher raw material purchase costs. Total restructuring and impairment charges during the period were $236 million (cash: $163 million; non-cash: $73 million) of which the majority related to the operational efficiency program; the balance largely related to Seeds acquisition integration costs. The total cost of the operational efficiency program is expected to be around $850 million over five years including a non-cash charge of $350 million, of which $470 million has already been incurred.

Cash flow and balance sheet: Free cash flow, before a $350 million pension fund injection, was $703 million. Fixed capital expenditure of $174 million was below depreciation of $252 million. At period end, the ratio of trade working capital as a percentage of sales improved to 30 percent from 36 percent at end-2004; average trade working capital as a percentage of sales was unchanged at 40 percent. Return on Invested Capital (ROIC) increased to 24.6 percent (2004: 18.8 percent).

At period end net debt was $864 million (2004: $864 million) representing a gearing ratio of 16 percent (2004: 15 percent). In April the company issued a euro 500 million, 4.125 percent Eurobond with 10 year maturity. It also made a public tender offer for its outstanding 5.5 percent Eurobond due in July 2006, of which 73 percent was redeemed. This was followed in the second half by a $250 million US Private Placement. These transactions significantly extended the maturity of outstanding debt to an average of 13 years.

Taxation: The underlying tax rate for the year was 22 percent (2004: 25 percent). The ongoing underlying tax rate is expected to be in the low twenties for the foreseeable future.

Cash return to shareholders: The Company continued its share repurchase program in 2005, repurchasing 2.3 million shares at an average price of CHF 129.1, in total $251 million. A total dividend of $207 million was paid on 22 July in the form of a nominal value reduction. Total cash returned to shareholders since the start of the program in May 2004 through dividends and share repurchase amounts to $743 million. In view of the ongoing strength of financial performance, it is the intention of the Company to pursue a progressive cash return policy.

For 2005 a dividend of CHF 3.30 per share, to be paid by way of a nominal par value reduction, will be submitted for shareholder approval at the AGM on 19 April 2006 together with a request to cancel the shares repurchased in 2005. In addition, the Company will, on 22 February, grant a free put option per share with an initial intrinsic value of CHF 1.50. The put option gives each shareholder the right to sell a fixed number of shares to the Company. Each put option has a maturity of three months from grant and will be tradeable on the SWX Swiss exchange; the exercise of all options will result in the Company being committed to repurchase approximately 3.3 million shares in 2006.

Outlook

Michael Pragnell, Chief Executive Officer, said:

"2005 marked the fifth anniversary of Syngenta and during the year we further reinforced our leadership position with share gains in Crop Protection, expansion in Field Crop seeds and progress in our consumer-led businesses of Vegetables seeds and Professional Products. Looking ahead, the strength of the business and our exciting pipeline products enable us to plan additional expenditure in marketing and product development and, for the three years through 2008, target double digit growth in earnings per share(9). In addition the ongoing strength of our financial performance enables us to pursue our program of progressive cash return to shareholders whilst investing in future growth."

Crop Protection For a definition of constant exchange rates, see Appendix A.

Full Year Growth 4th Quarter Growth

2005 2004 Actual CER 2005 2004 Actual CER $m $m % % $m $m % % Product line Selective herbicides 1889 1867 +1 - 1 249 296 -16 -14 Non-selective herbicides 688 645 +7 +6 123 104 +20 +23 Fungicides 1779 1702 +4 +2 356 364 - 2 +1 Insecticides 1100 1049 +6 +5 224 243 - 7 - 5 Professional products 784 708 +9 +8 164 148 +8 +10 Others 67 59 +13 +12 52 26 +104 +107 Total 6307 6030 +5 [phone] - 1 +2


Selective Herbicides: major brands CALLISTO(R) family, DUAL(R)/BICEP(R) MAGNUM, ENVOKE(R), FUSILADE(R)MAX, TOPIK(R)

Sales of selective herbicides were driven by the CALLISTO(R) range, with further successful launches in Europe and growth of over 30 percent in the USA, notwithstanding increased herbicide-tolerant acres. Growth in the CALLISTO(R) range was partly offset by a decline in sales of older products such as DUAL(R)/BICEP(R) MAGNUM and atrazine. Sales of the cereal herbicide TOPIK(R) were lower in Western Europe but continued to grow in Eastern Europe. APIRO(R) continued to increase on rice in Japan and South Korea.

Non-selective Herbicides: major brands GRAMOXONE(R), TOUCHDOWN(R)

TOUCHDOWN(R) showed significant growth in the USA, Argentina and Eastern Europe driven by the launch of new brands and marketing programs. GRAMOXONE(R) sales were weaker in southern Europe and in Brazil owing to drought conditions in the first half, offset somewhat by good growth in China.

Fungicides: major brands ACANTO(R), AMISTAR(R), BRAVO(R), RIDOMIL GOLD(R), SCORE(R), TILT(R), UNIX(R)

Fungicides grew strongly in North America, Eastern Europe and Asia. In the USA, the soybean rust market proved to be small but AMISTAR(R) benefited from its versatility, with good demand on wheat, potatoes, vines and nuts. Sales of the cereal fungicide ACANTO(R) grew strongly in France. SCORE(R) continued its expansion in the emerging markets of Asia, notably China and Vietnam.

Insecticides: major brands ACTARA(R), FORCE(R), KARATE(R), PROCLAIM(R), VERTIMEC(R)

Growth in insecticides was driven by strong performances in the USA and Brazil. In the USA sales of KARATE(R) almost doubled following an exceptional outbreak of soybean aphids in the second half. Sales of FORCE(R) were buoyant capitalizing on an increase in acres treated for corn rootworm. ACTARA(R) continued to grow strongly in Brazil and Japan.

Professional Products: major brands CRUISER(R), DIVIDEND(R), HERITAGE(R), ICON(R), MAXIM(R)

Growth was driven by Seed Care but was also significant in Lawn & Garden. CRUISER(R) showed double digit growth with particular success on soybeans in the USA. HERITAGE(R) performed well on turf in the USA and Japan. In Home Care, professional pest management and materials protection also contributed to growth.

Full Year Growth 4th Quarter Growth

2005 2004 Actual CER 2005 2004 Actual CER $m $m % % $m $m % % Regional Europe, Africa & Middle East 2274 2251 [phone] +3 NAFTA 2069 1869 +11 [phone] Latin America 1026 1017 +1 +1 422 396 +7 +7 Asia Pacific 938 893 +5 [phone] Total 6307 6030 +5 [phone] +2


Sales in Europe, Africa and the Middle East showed a significant fourth quarter improvement, notably in France and Spain, following drought earlier in the year. Full year sales in Europe were up driven by continuing double digit growth in Eastern Europe. The slight decline in regional sales reflected lower tender business in Africa and the Middle East.

A strong performance in NAFTA was led by a double digit increase in the USA with sales in Canada and Mexico also higher. The CALLISTO(R) range once again registered strong growth capitalizing on increased corn acres. With growth across the portfolio, including a notable contribution from the insecticides KARATE(R) and FORCE(R), Syngenta's leading position in the world's largest agricultural market was reinforced.

Modest growth in Latin America reflected healthy sales in Argentina driven by TOUCHDOWN(R). In Brazil full year sales were down slightly after a robust second half performance driven by insecticides and fungicides. Combination products in the AMISTAR(R) range to treat soybean rust, and a good performance by ACTARA(R) were the key drivers of an increased market share.

In Asia Pacific sales benefited from an increase in Japan and from growth initiatives across a number of developing markets, notably India, Korea, Vietnam and recovery in China, which more than offset weakness in Australia.

Seeds For a definition of constant exchange rates, see Appendix A.

Full Year Growth 4th Quarter Growth

2005 2004 Actual CER 2005 2004 Actual CER $m $m % % $m $m % % Product line Corn & Soybean 880 401 +120 +117 26 27 - +1 Diverse Field Crops 301 247 +21 +16 26 24 +6 +13 Vegetables & Flowers 616 591 +4 +2 108 101 +7 +9 Total 1797 1239 +45 [phone] +6 +8


Field Crops: major brands NK(R), GARST(R), GOLDEN HARVEST(R) corn and oilseeds, HILLESHOG(R) sugar beet

Sales of corn and soybean grew across all regions: GARST(R) and GOLDEN HARVEST(R) made a successful first year contribution in the USA and market share was maintained; growth excluding these acquisitions was 20 percent (CER). In oilseeds, sales of NK(R) sunflower were up strongly, with gains in Eastern Europe benefiting from increased demand for biodiesel. Sugarbeet sales also increased in Europe.

Vegetables and Flowers: major brands S&G(R) vegetables, ROGERS(R) vegetables, S&G(R) flowers

After a slow start to the year due to poor weather in Europe, vegetables sales showed a marked recovery in the second half, with S&G(R) reinforcing its strength in tomatoes. Sales in the emerging markets of Latin America and Asia Pacific continued to expand rapidly. In fresh produce, sales of watermelon and cantaloupe again showed strong growth in the USA and initial launches took place in Europe.

For the full year sales of S&G(R) flowers were lower in a weak market, although recovered somewhat in the second half.

Full Year Growth 4th Quarter Growth

2005 2004 Actual CER 2005 2004 Actual CER $m $m % % $m $m % % Regional Europe, Africa & Middle East 699 641 +9 +4 61 55 +11 +17 NAFTA 903 437 +107 [phone] Latin America 107 86 +24 +24 24 23 +4 +4 Asia Pacific 88 75 +17 +15 21 18 +15 +18 Total 1797 1239 +45 [phone] +6 +8


Safe Harbor: 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 therefore.

Syngenta is a world-leading agribusiness committed to sustainable agriculture through innovative research and technology. The company is a leader in crop protection, and ranks third in the high-value commercial seeds market. Sales in 2005 were approximately $8.1 billion. Syngenta employs some 19,000 people in over 90 countries. Syngenta is listed on the Swiss stock exchange (SYNN) and in New York (SYT). Further information is available at

(1) Growth at constant exchange rates, see Appendix A.

(2) EPS on a fully-diluted basis, excluding restructuring, impairment and discontinued operations, and before a one-off tax credit. EPS growth excluding IFRS3 goodwill adjustment, 20 percent.

(3) For a definition of free cash flow, see Appendix B.

(4) The exact amount will depend upon the closing share price on 21 February 2006.

(5) The amounts including restructuring and impairment are reported in accordance with International Financial Reporting Standards (IFRS).

The impact of restructuring, impairment and discontinued operations in 2005 is $157m on net income (2004: $302m).

(6) Net income to shareholders of Syngenta AG.

(7) Net income before one-off tax credit.

(8) Third party sales excluding inter-segment sales to Seeds. For total sales by segment and region see Appendix H.

(9) Fully diluted, before restructuring and impairment and share repurchase program.

Analyst/Investor Enquiries: Jonathan Seabrook (Switzerland) [phone] Jennifer Gough (Switzerland) [phone] Rhonda Chiger (USA) + 1 [phone]

Media Enquiries: Guy Wolff (Switzerland) [phone] Sarah Hull (USA) + 1 [phone] Andrew Coker (UK) [phone]

Share Registry Enquiries Urs-Andreas Meier [phone]

First Call Analyst:

FCMN Contact: [e-mail]

DATASOURCE: Syngenta


CONTACT: Analyst/Investors: In Switzerland: Jonathan Seabrook,

[phone], or Jennifer Gough, [phone], or In the USA: Rhonda

Chiger, [phone], or Media: In Switzerland: Guy Wolff, [phone],

or In the USA: Sarah Hull, [phone], or in the UK: Andrew Coker,

[phone], or Share Registry Enquiries, Urs-Andreas Meier,

[phone]


Web site:

[waldron] 08/2/2006 08:42

WTO Rules Against EU's Biotech-Seed Rules, U.S. Says (Update1)
Feb. 8 (Bloomberg) -- The World Trade Organization ruled that the European Union unfairly blocked imports of genetically engineered crops, U.S. trade officials said, setting a precedent that may force other nations to drop their restrictions.

In the first decision of its kind, the WTO sided with the U.S., Canada and Argentina, saying the EU discriminated against imports of biotech seeds from companies such as Monsanto Co. without adequate scientific evidence of their harm, according to people familiar with the case. The ruling is still confidential.

``Agricultural biotechnology products should be provided a timely, transparent and scientific review'' by the EU, U.S. Trade Representative Rob Portman said in a statement.

European governments such as Germany and France, as well as activists such as Greenpeace International, have sought to curb the use of seeds genetically altered to resist pests, disease and drought, claiming that the modified crops threaten human health and the environment. The U.S. insists that those seeds are safe and shouldn't be distinguished from conventional seeds.

The WTO ruling sets a precedent for other nations ranging from India to Japan to Russia that have regulations stipulating the labeling goods containing genetically modified ingredients.

``One of the main reasons to bring the case was to prevent the loss of other important markets'' for U.S. agriculture exports, said Michelle Gorman, director of regulatory relations at the American Farm Bureau Federation in Washington.

The U.S. argued in its case that the EU violated WTO rules because its approval process for imports of biotech foods had ``unnecessary delays'' resulting in a trade barrier. The EU said popular opposition meant consumers were already buying less of those types of products, and that its rules were developed for legal food-safety reasons.

`We're Good Now'

The 1,047-page WTO decision also condemns bans on marketing and releasing genetically modified organisms into the environment such as those imposed by Germany, France, Austria and Greece, said the people, who declined to be identified.

``We're not going to say anything tonight, under no circumstances,'' Peter Power, a European Commission spokesman, said by telephone from Brussels.

The refusal of those governments to approve new seeds prompted the EU's governing body to begin a moratorium in 1998 on imports of genetically modified food. The EU in 2004 adopted new procedures that now allow some gene-altered food imports.

Since the WTO report only considered rules up until 2003, the EU ``may essentially say, `We were bad, but we're good now,''' said Kyd Brenner, a partner at the agriculture research firm DTB Associates in Washington.

Lost Sales

Still, U.S. farm groups say that since imports of those products resumed in 2004, the European Commission has approved just three varieties, including Monsanto's MON863 corn, which means a de facto ban is still in effect. Monsanto is.

The U.S. industry says the EU ban has cost exporters $300 million a year in lost corn sales alone to the EU.

It's also meant lost revenue for seed companies such as St. Louis-based Monsanto, the world's biggest developer of genetically modified crops, and Midland, Michigan-based Dow Chemical Co., which saw the profits of its agriculture unit jump 81 percent to $74 million in the fourth-quarter of last year. Spokesmen for those companies referred calls to the Biotechnology Industry Organization in Washington.

U.S. biotech seed companies ``will continue to work diligently with EU officials to establish a scientific, timely, rules-based review and approval system for agricultural biotechnology products,'' Sean Darragh, an executive vice- president at the organization, said in a statement.

The total value of the worldwide biotech crop market is estimated to be more than $5 billion, according to the International Service for the Acquisition of Agri-biotech Applications, a nonprofit organization funded by governments, foundations and companies including Monsanto.

New Legislation

The European Commission says new laws since 2004 allow biotech seeds to be planted, traced and labeled, and points to more than 30 gene-altered products approved for marketing in the bloc. The EU's executive blames national governments including France and Austria for continuing to obstruct new approvals.

More than half of the region's 450 million consumers consider gene-engineered foods to be dangerous, according to an EU poll in June.

``U.S. agro-chemical giants will not sell a bushel more of their GM grain as a result of the WTO ruling,'' Daniel Mittler, a trade adviser at environmental group Greenpeace International said in a statement. Opposition to the crops by consumers, farmers and governments ``will not change, in Europe or globally,'' he said.

The planting of altered seeds rose to 90 million hectares in 2005 from 1.7 million worldwide since initial commercialization in 1996, industry groups estimate, as farmers seek more reliable harvests. The U.S. accounts for about 55 percent of that total.

Test Case

The WTO decision will now be reviewed by the parties of the case, who can comment on it before it is formally issued by the WTO panel. Either side can then appeal. Only after the appeal is completed would the U.S. be able to petition to get the EU to change its procedures or impose trade sanctions.

The report is designed to remain confidential in an effort to give the governments involved a chance to make any amendments or to negotiate a last-minute solution.

The case is a test for the EU's ``better-safe-than-sorry'' food policy, known as the precautionary principle, which has kept hormone-treated beef from the U.S. and Canada out of the EU even though the WTO ruled in 1998 that the EU hadn't scientifically proven a cancer risk to consumers from the treatments.

The EU has been paying $126 million a year in sanctions as a result and is working to get the retaliatory duties lifted on the grounds that it now has enough evidence. This case could be much larger than that one.



To contact the reporter on this story:
Warren Giles in Geneva at [e-mail];
Mark Drajem in Washington at [e-mail]
Last Updated: February 7, 2006 23:25 EST

[waldron] 08/2/2006 06:31

EARNINGS PREVIEW: Syngenta FY Net Seen +21% At $555.8M

Tuesday, February 07, 2006 7:58:56 AM ET
Dow Jones Newswires



1147 GMT [Dow Jones]--Syngenta (SYT) Thursday at 0600 GMT is expected to post a 21% jump in full year net profit including restructuring and impairment, an average of 6 analysts forecasts shows. Net profit is seen at $555.8M, up from $460M last year, driven by a higher demand, ongoing cost savings. Net profit excluding charges and discontinued operations and a one-off tax credit is seen +25% at $780M from $623M. Sales +11% to $8.083B from $7.269B, also helped by product price increases. Eyes on 06 outlook, cash flow generation and expected update on cash returns to shareholders via dividends, share buybacks. Shares -0.8% at CHF172.10. (SWZ)

[waldron] 07/2/2006 17:22

Syngenta Not Seen Impacted By WTO Ruling

Tuesday, February 07, 2006 10:28:36 AM ET
Dow Jones Newswires



1404 GMT [Dow Jones]--Syngenta's (SYT) business is note expected to be impacted by the World Trade Organization's ruling on whether the EU's ban on genetically-modified crops is illegal or not, says Bank Sarasin analyst Bernd Pomrehn. Even if the WTO's ruling lifts the moratorium on GMO-based food products in the EU, the European consumer won't easily change its aversion toward GMO food, says Pomrehn, which is the real reason that holds back further spread of GMO in Europe. Rates Syngenta at buy. Shares -1% at CHF171.60. (SWZ)

[waldron] 02/2/2006 07:14

Syngenta AG Ads Syngenta Media Release - Advance Notice

BASEL, Switzerland, Feb. 2 /PRNewswire-FirstCall/ -- This is a reminder that on Thursday, February 09, Syngenta (NYSE:SYT) will announce its Full Year Results 2005.

Fax and email transmission of the press release will start 7 a.m. Swiss time. Further information will be available on our website .

You can find the current forecast consensus under the following link:

Kind regards

Guy Wolff Emilie Vincent Head of Media Relations Media Relations Manager Tel: [phone] Tel: [phone] Fax: [phone] Fax: [phone]

First Call Analyst:

FCMN Contact: [e-mail]

DATASOURCE: Syngenta


CONTACT: Guy Wolff, Head of Media Relations, [phone],

Fax: [phone], , or Emilie Vincent, Media

Relations Manager, [phone], Fax: [phone],



Web site:

[waldron] 01/2/2006 17:46

Syngenta Up On Bush Comments >SYT

Wednesday, February 01, 2006 12:13:32 PM ET
Dow Jones Newswires



1556 GMT [Dow Jones]--Syngenta (SYT) +5.4% at CHF171.20, touching all-time highs, after US president Bush in his state of the Union address said he wanted to push biofuels to reduce economic dependency from oil. Syngenta is one of the leading company's doing research on renewable fuels, having the first project in the EU to transform oilseed rape into energy that could be used as an alternative to fossil fuel, analyst says. Syngenta to present FY results on February 9. (SWZ)

[ariane] 03/1/2006 10:37

Syngenta "buy," target price raised

Tuesday, January 03, 2006 5:21:56 AM ET
Bank Sarasin & Cie AG

LONDON, January 3 (newratings.com) - Analysts at Bank Sarasin & Cie maintain their "buy" rating on Syngenta (SVJ.ETR). The target price has been raised from CHF160 to CHF175.

In a research note published this morning, the analysts mention that Syngenta's 4Q05 results are likely to be ahead of expectations, given the recent comment by a company's competitor that demand trends in Brazil were better than expectations during the quarter. Syngenta expects to raise the prices of its crop protection products in North America by 3% during February 2006, Bank Sarasin & Cie adds.

[maywillow] 23/12/2005 09:36

UBS Lifts Givaudan, Syngenta Targets

Friday, December 23, 2005 4:04:19 AM ET
Dow Jones Newswires



0753 GMT [Dow Jones] UBS ups Givaudan's (GIVN.VX) target price to CHF830 from CHF790, but keeps its rating at neutral. Bank also ups Syngenta's price target (SYT) to CHF185 from CHF181, but keeps its buy recommendation. Givaudan closed at CHF871 and Syngenta ended at CHF159.9. (GOM)

[maywillow] 20/12/2005 14:46

LODH Lifts Syngenta Target To CHF175

Tuesday, December 20, 2005 9:23:55 AM ET
Dow Jones Newswires



1310 GMT [Dow Jones]--Lombard Odier Darier Hentsch lifts Syngenta (SYT) target to CHF175 from CHF150, after lifting 06 EPS forecast 7.7% to CHF10.2, 07 forecast by 10% to CHF11.8. Take also into account share buyback, increased dividend payout. "The shares trade only at a 10% premium to the specialty chemicals sector, which in our view is too little." Adds that Syngenta remains the defensive pick of choice, keeps at buy. Trades +2.2% at CHF157.70.(SWZ)

[grupo guitarlumber] 15/12/2005 15:00

Smith Barney Lifts Syngenta Target To CHF180

Thursday, December 15, 2005 9:08:58 AM ET
Dow Jones Newswires



1256 GMT [Dow Jones]--Smith Barney ups Syngenta (SYT) target to CHF180 from CHF160 as the company has an excellent cash flow and will launch products from its bioscience pipeline, such as traits, from 06 on, "providing scope for further significant earnings growth. Expects the company, together with Monsanto (MON) to continue to outperform the underlying market, rates both at buy. Sees market for crop science products to grow 5% annually over the next five years. Says despite that Bayer (BAY) is the leader in crop chemicals, it has a limited scope for margin expansion due to its limited bioscience and seeds platform. Rates Bayer hold. Syngenta +0.9% at CHF152. Bayer +0.2% at EUR34.25.(SWZ)

[ariane] 08/12/2005 09:38

2006:


2005 Full Year Results 9 February 2006
Q1/AGM 19 April 2006
Half year results 26 July 2006
Third quarter results 20 October 2006

[ariane] 08/12/2005 09:15

UBS Raises Syngenta Dividend Estimate

Thursday, December 08, 2005 3:32:47 AM ET
Dow Jones Newswires



0723 GMT [Dow Jones] UBS raises Syngenta (SYT) '05-'08 dividend forecast by 15% on expectations of increased payout ratio to around 37% from 30%. "Including $250M of buyback per annum, we now expect the company to return around $3.3B to shareholders between '04-'09." Has buy rating and CHF181 target. Shares closed at CHF147.90.(MGE)

[ariane] 07/12/2005 10:18

Syngenta Advantage On Good Brazil Harvest

Wednesday, December 07, 2005 4:37:43 AM ET
Dow Jones Newswires



0826 GMT [Dow Jones] Deutsche Bank says first reports out of Brazil indicate that the harvest is likely to be stronger than expected. This is good news for farmers and also Syngenta (SYT). DB says Bayer (BAY) has greatest exposure in Brazil but Syngenta's "group earnings are more leveraged." Says shares are cheap, trading at an 11.2x '06 price/earnings ratio. Keeps Syngenta at buy with CHF175 target, rates Bayer at hold. Syngenta -0.4% at CHF148.40, Bayer -0.2% at EUR34.49. (SWZ

[grupo guitarlumber] 05/12/2005 18:44

Syngenta Blighted By Monsanto Comments

Monday, December 05, 2005 11:37:36 AM ET
Dow Jones Newswires



1520 GMT [Dow Jones]--Syngenta (SYT) -1.5% at CHF148.30, suffering from Monsanto's (MON) comments that it is increasing its 1Q 06 guidance on better-than-expected demand for its genetically modified seeds in the US, London-based analyst says. Monsanto, who is the market leader in the US in this area, also says acreage where GMO seeds are planted is on the rise and this is bad news for companies such as Syngenta, who have less exposure to that business in the US.(SWZ)

[grupo guitarlumber] 05/12/2005 08:54

Bayer CropScience receives 1st approvals for downy mildew fungicide in UK,
China

MONHEIM, Germany (AFX) - Bayer CropScience AG said it has received the first
approvals for its new fungicide Fluopicolide, to control downy mildew diseases
in vegetables, ornamentals, grapes and late blight in potatoes in the UK and in
China.
"This is an important step for the company, as the UK is one of the most
important markets for this product," a company spokesman said.
He added that CropScience expects additional approval for the fungicide in
other "important markets during the course of 2006".
Fluopicolide is one of 10 compounds that the company plans to bring to the
market between 2006 and 2011.
"Including 16 active ingredients already launched since the year 2000, the
company sees a sales potential of about 2 bln eur for products coming from its
pipeline."
The spokesman would not comment on the downy mildew fungicide's sales
potential.
[e-mail]
rkj/nes

[waldron] 27/11/2005 15:53

GENEVA (AFX) - Swiss voters on Sunday approved a five-year ban on the use of genetically modified organisms in farming by a clear majority, official results in a referendum showed.

Some 55.7 pct of voters supported the initiative brought by left-wing groups, environmentalists, farmer and consumer associations, according to the government's nationwide count released by the Swiss news agency ATS.

About 44.3 pct voted against. The moratorium also gained a majority in all of the country's 23 cantons, thereby clearly passing the required dual majority hurdle.

pac/gk/ec AFP

[ariane] 17/11/2005 09:42

CSFB Cuts Syngenta To Neutral From Outperform

Thursday, November 17, 2005 4:23:40 AM ET
Dow Jones Newswires



0855 GMT [Dow Jones] CSFB downgrades Syngenta to neutral from outperform. Cites four reasons: shares are close to fair value seen at CHF150; relative weakness versus Monsanto (MON) in genetically modified foods market; court case pending with Monsanto on intellectual property rights on GA21; and a mixed outlook for 1H '06. Shares +0.1% at CHF143.50. (HJS)

[waldron] 15/11/2005 06:54

Press Release Source: Syngenta


New Syngenta Seed Care Institute to Provide Best-In-Class Customer Service
Tuesday November 15, 1:00 am ET


BASEL, Switzerland, Nov. 15 /PRNewswire-FirstCall/ -- Syngenta will build a new Seed Care Institute at its Research and Development Center in Stein, Switzerland. This new, state-of-the-art center will serve as Syngenta's global R&D facility for developing and testing seed treatment technologies. It will significantly expand the company's capability to serve its customers, including seed companies, seed treaters and growers.



Construction will start in the first quarter of 2006 and completion is expected by mid-2007. The total investment will be approximately $7 million in addition to the $40 million investment to build a new chemistry research laboratory for disease and insect control products announced earlier this year.

"This investment will accelerate our innovation capability and underpins our ambition to become the leader in this fast-growing segment," said Kris Sirchio, Head of Syngenta Professional Products. "The Institute will be an industry-leading center for technology development and training. It will enable novel seed treatments and associated services to reach the market sooner."

Seed treatment, a technology in which crop protection ingredients are applied directly onto the seeds prior to sowing, is one of the most efficient and economic ways to protect crops from fungi, bacteria and insects. It is also the fastest-growing segment in crop protection, with a projected global market value of about $1.4 billion in 2005.

Syngenta is a world-leading agribusiness committed to sustainable agriculture through innovative research and technology. The company is a leader in crop protection, and ranks third in the high-value commercial seeds market. Sales in 2004 were approximately $7.3 billion. Syngenta employs some 20,000 people in over 90 countries. Syngenta is listed on the Swiss stock exchange (SYNN) and in New York (NYSE: SYT - News). Further information is available at