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Synthomer Np | LSE:SYNN | London | Right |
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0.00 | 0.00% | 11.00 | 14.60 | 15.45 | - | 0 | 01:00:00 |
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19/4/2006 11:52 | Syngenta Seen Remaining Attractive Wednesday, April 19, 2006 5:44:23 AM ET Dow Jones Newswires 0828 GMT [Dow Jones]--Syngenta (SYT) remains an attractive play despite weakish 1Q revenue figures, Zuercher Kantonalbank says. Cites prospects for strong growth relative to chemical sector. Maintains market outperform rating. UBS also reiterates buy rating, says rest of the planting season appears to shape up a lot better. Has CHF240 target. Trades -0.2% at CHF180.40. (MGE) | waldron | |
19/4/2006 10:13 | Syngenta 1Q Biggest Hurdle, Outlook Better Wednesday, April 19, 2006 4:14:28 AM ET Dow Jones Newswires 0657 GMT [Dow Jones] Syngenta's (SYT) 1Q result, with underlying sales declining 1%, was the company's biggest hurdle this year, and with the rest of the planting season shaping up a lot better, the outlook is improving, says UBS. Forecasts 12% EPS growth for the full year and "strongly" recommends buying shares due to a compelling valuation. Keeps CHF240 target. Trades pre-market flat at CHF180.60. (SWZ) | waldron | |
19/4/2006 08:01 | First Quarter Trading Stmnt RNS Number:6398B Syngenta AG 19 April 2006 Media Release First Quarter Trading Statement 2006 Basel, Switzerland, April 19, 2006 Sales in the first quarter of 2006 were $2.7bn, 1% lower (CER) in comparison with a strong first quarter in 2005; reported sales were 5% lower due to a strengthening of the US dollar. In Crop Protection, sales were 1% higher (CER). In Europe, Africa & Middle East a late start to the season was offset by a recovery in southern Europe, notably Spain, continued growth in Eastern Europe and a good performance in Germany. In NAFTA, growth was achieved across the region with new products again driving performance, notably the new cereal herbicide AXIAL(R) which made a strong start in its first season. Higher sales in Asia Pacific were led by China, as well as a number of countries in South East Asia. Sales in LATAM were somewhat lower due to challenging market conditions in Brazil. Growth was achieved across all product lines with the exception of lower sales in fungicides, notably in Brazil. Professional Products again delivered solid growth with all three businesses - Seed Care, Lawn & Garden and Home Care - making significant contributions. Seeds sales were 5% lower (CER). In comparison with a strong first quarter in 2005, corn and soybean sales were lower primarily due to production-related issues affecting corn in the USA. Diverse Field Crops again delivered good growth. Sales of Vegetables & Flowers were also higher, maintaining their growth record. For the full year 2006, the company continues to target double digit growth in earnings per share*. *Fully diluted, before restructuring and impairment and share repurchase program 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 www.syngenta.com. Media Enquiries: Switzerland: Guy Wolff Tel: +41 (61) 323 2323 USA: Sarah Hull Tel: +1 (202) 347 8348 UK: Andrew Coker Tel: +44 (1344) 41 4503 Analysts/Investors: Switzerland: Jonathan Seabrook Tel: +41 (61) 323 7502 Jennifer Gough Tel: +41 (61) 323 5059 Rhonda Chiger Tel: +1 (917) 322 2569 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. Unaudited First Quarter Product Line and Regional Sales Syngenta 3 Months 2006 3 Months 2005 Actual CER(1) $m $m % % Crop Protection 1872 1931 - 3 + 1 Seeds 846 921 - 8 - 5 Inter-segment elimination(2) (11) (5) - - Total 2707 2847 - 5 - 1 Crop Protection Product line Selective herbicides 611 615 - 1 + 3 Non-selective herbicides 167 163 + 3 + 5 Fungicides 538 595 - 10 - 4 Insecticides 295 304 - 3 + 1 Professional products 244 229 + 7 + 8 Others 17 25 - 35 - 30 Total 1872 1931 - 3 + 1 Regional Europe, Africa and Middle East 744 818 - 9 - NAFTA 651 630 + 3 + 2 Latin America 182 192 - 5 - 5 Asia Pacific 295 291 + 1 + 6 Total 1872 1931 - 3 + 1 Seeds Product line Corn & Soybean 499 571 - 13 - 11 Diverse Field Crops 160 159 + 1 + 9 Vegetables and Flowers 187 191 - 2 + 4 Total 846 921 - 8 - 5 Regional Europe, Africa and Middle East 343 359 - 4 + 5 NAFTA 465 531 - 12 - 12 Latin America 14 12 + 15 + 15 Asia Pacific 24 19 + 25 + 28 Total 846 921 - 8 - 5 (1) Growth at constant exchange rates. (2) Crop Protection inter-segment sales are Seed treatment (Professional products) sales to Seeds. This information is provided by RNS The company news service from the London Stock Exchange END NRAGUUUUCUPQUQB | waldron | |
13/4/2006 17:07 | EARNINGS PREVIEW: Syngenta 1Q Sales Seen -3% At $2.76B Thursday, April 13, 2006 7:44:05 AM ET Dow Jones Newswires 1027 GMT [Dow Jones]--Syngenta (SYT) Wednesday before market opens is expected to release a 3% drop in 1Q sales as the cold weather in Europe is seen moving sales into 2Q and USD appreciation will have a negative impact. An average of 5 analysts forecasts' polled by DJN peg 1Q sales at $2.76B, down from $2.85B. Sales at the larger crop protection unit are seen at $1.88B vs. $1.92B a year ago and seed unit sales are seen falling to $899M from $921M. Analysts expect the company to reiterate its outlook of double-digit EPS growth until 08 and to provide more information on the situation in Brazil. Trades +0.3% at CHF181.40.(SWZ) | ariane | |
12/4/2006 17:48 | EU Seeks More Biotech-Food Data, May Hamper Monsanto (Update3) April 12 (Bloomberg) -- European Union regulators demanded more data and scientific consultations on genetically modified foods, potentially raising hurdles for companies such as Monsanto Co. and rekindling a trans-Atlantic trade dispute. The European Commission said companies seeking permission to sell gene-modified foods in the EU should produce extra risk information to ease safety concerns. The Brussels-based commission also said the EU's food agency should work more closely with national scientific bodies to win their support for gene-altered products. ``Some of this is obfuscation,'' Simon Barber, a director at industry group EuropaBio in Brussels, said by telephone today. ``The EU system is already completely open and there are some member states who have always objected to the science.'' The commission, the 25-nation EU's regulatory arm, wants greater political support as it seeks to expand trade and give Europe a bigger share of the $5 billion global biotech-crop market. After ending a six-year moratorium in 2004, the commission faces resistance to gene-modified foods from a group of member states that obstruct product approvals and put the regulator in the political crossfire. Gene-Food Opponents The commission over the past two years has faced opposition in countries such as Italy and Austria for authorizing products made by companies including Monsanto, the world's biggest developer of gene-engineered seeds, Syngenta AG, the largest maker of crop chemicals, DuPont Co. and Dow Chemical Co. Biotech foods range from grain to tomatoes whose genetic material has been altered to add beneficial traits such as resistance to weed-killing chemicals. Surveys show opposition to such foods by more than half of European consumers, who worry about risks such as human resistance to antibiotics and the development of ``superweeds'' impervious to herbicides. The EU's nations tend to be split almost evenly over product approvals. ``We hope this will rally member states around the authorization process,'' commission spokesman Philip Tod told reporters today in Brussels. ``We want practical improvements in the system.'' The package of new measures brought praise from opponents of gene-modified foods. Friends of the Earth, which campaigns against biotech foods, said in an e-mailed statement the commission was rightly questioning the role of the EU food agency. The environmental group urged the commission ``to go further'' by suspending the agency's work and any more EU biotech-food approvals ``until public and environmental safety can be guaranteed.'' Stricter Laws The EU introduced stricter gene-modified food laws, including new rules on labeling, and created a food agency to screen biotech applications before ending its ban two years ago. National governments can still slow or block approvals because the commission must consult national authorities when it plans to give permission for the EU-wide sale of gene-modified products for food, animal feed or cultivation. The 10 approvals since the EU moratorium ended all resulted from the commission acting on its own after member states failed to muster a sufficient majority for or against, a stalemate that drags decisions out for months. The World Trade Organization ruled in February that the EU moratorium was illegal and left unanswered the question of whether the current pace of approvals is compatible with global- trade rules. The WTO ruling resulted from a complaint by the U.S., Argentina and Canada. No Planting The EU has yet to approve an application to cultivate a gene-modified product since ending the moratorium, limiting authorizations to food and feed use. ``There are fewer friends than enemies of GMOs'' in Europe, Environment Commissioner Stavros Dimas told reporters in Brussels on April 7. ``Our duty is to provide the best possible scientific basis'' for handling applications. Companies that file biotech-food applications should address ``more explicitly'' the possible long-term health and environmental effects of the products, the commission said today in a statement summarizing a policy paper by Dimas and Health Commissioner Markos Kyprianou. The commission also said it might require companies to undertake ``additional, proportionate risk-management measures'' as a condition for winning gene-modified food approvals in future. It said this would be considered on a case-by-case basis. ``The companies have to increase confidence in their products,'' Dimas said last week. Food Agency The new measures also focus on the European Food Safety Authority, which clears applications before the commission starts the process of granting EU-wide marketing authorizations. Some governments accuse the agency of being too quick to declare products safe and Friends of the Earth today said the EU authority ``has for too long sided with the biotech industry.'' The food agency should ``liaise more fully with national scientific bodies, with a view to resolving possible diverging scientific opinions with member states,'' the commission said. The commission also wants to increase the burden of proof on the food authority -- known as EFSA -- when it overrules national experts, insisting on ``more detailed justification'' for such action. Possible Suspensions The commission said it might suspend approval procedures when a member state ``raises important new scientific questions not properly or completely addressed by the EFSA opinion.'' EuropaBio's Barber called that point ``confusing'' because it suggests the commission would have more expertise than EU scientists and risks ``politicizing'' the process. The new plans come as the commission considers starting the approval process for requests to plant gene-modified seeds. The measures are also meant to help the commission tackle another threat to the EU single market: national bans on products after they have been approved by the EU. Several nations including Germany, France, Greece and Austria invoked safety clauses in European law to prohibit biotech products endorsed by the bloc in the 1990s. The commission has so far failed to win support from other member states to overturn these national bans. EFSA, based in Parma, Italy, today issued opinions on some of these bans and said they aren't justified. To contact the reporter on this story: Jonathan Stearns in Brussels at jstearns2@bloomberg. Last Updated: April 12, 2006 10:49 EDT | waldron | |
11/4/2006 07:14 | -------------------- Main page content: DuPont and Syngenta seed joint venture By Clive Cookson in Chicago Published: April 11 2006 03:00 | Last updated: April 11 2006 03:00 DuPont of the US andSyngenta of Switzerland, two of the world's largest agricultural biotechnology companies, yesterday announced a wide-ranging cross-licensing deal and a joint venture to sell their genetically modified corn and soyabean technology to independent seed producers. They hope the agreement will enable them to compete more effectively with Monsanto, the leading GM seed company. The 50/50 joint venture will operate through GreenLeaf Genetics, a licensing business that Syngenta set up in 2004. GreenLeaf, based in Omaha, Nebraska, is expected to expand rapidly as it offers corn and soya breeding materials from Syngenta and DuPont's agriculture biotechnology subsidiary Pioneer Hi-Bred, to the large independent seed sector in the US and Canada. Later, the joint venture may be extended worldwide. Dean Oestreich, Pioneer's president, told a press conference in Chicago that the venture marked the first occasion on which two large agriculture biotech companies had joined forces to expand the marketing of corn and soybean seed innovations, notably resistance to herbicides and insect pests. Syngenta and DuPont started working together in February, when they announced a smaller cross-licensing agreement. Yesterday's deal expands this considerably. Syngenta will receive a global licence for DuPont's new "Optimum GAT" herbicide tolerance technology, which Mr Oestreich said would enable farmers to control weeds more effectively than Monsanto's Round-Up Ready technology. Mike Mack, Syngenta Seeds' chief operating officer, said: "We are looking forward to driving sales of Optimum GAT together." | waldron | |
06/4/2006 16:59 | Good golly! This is soooo cool!! | curba | |
06/4/2006 16:57 | OGY MARKETS ENTREPRENEURS WORK PERSONAL FINANCE LIFESTYLE LISTS OPINIONS Home > News & Analysis -------------------- E-mail | Comments | E-Mail Newsletters | My Yahoo! | RSS AFX News Limited Swiss shares continue slightly higher in thin afternoon trade; Novartis shines 04.06.2006, 11:19 AM Most Popular Stories Celebrity Homes Best-Paid Athletes Best-Paid Actor and Actresses Best-Paid Soccer Players Most Expensive States to Insure Homes Most Popular Videos SportsMoney: March Madness A Win For CBS Fly Me To The Moon Finding A Gambler's Paradise Changing China's Currency Gambling With A Billion ZURICH (AFX) - Swiss shares continued slightly higher in thin afternoon trade, after spiking briefly on the ECB's decision to leave interest rates on hold, dealers said. Early losses on Wall Street are weighing but fresh buying interest for heavyweight Novartis prevented the market from turning negative, they said. At 3.50 pm, the Swiss Market Index was 11.55 points higher at 8,102.09, and the Swiss Performance Index was up 7.71 points at 6,227.31. The euro was weaker against the Swiss franc at 1.5772 sfr, with ECB president Jean-Claude Trichet putting market expectations of a May interest rate hike in doubt, while the dollar rose to 1.2900 sfr. Opening losses on Wall Street offset earlier gains related to the ECB's decision to leave rates unchanged, although gains in Novartis prevented the SMI from slipping into negative territory, a trader here said. Novartis was last trading 1.20 sfr or 1.7 pct higher at 73.90, on positive phase II data for MS drug FTY 720 and fresh support for its Chiron bid. Novartis said that data from the extension to a phase II study to 18 months support the significant effects of FTY 720, showing sustained efficacy and good tolerability. News also broke earlier today that three proxy advisory services -- Institutional Shareholder Services, Proxy Governance, and Glass Lewis -- now back Novartis' offer to buy all of the outstanding Chiron shares Novartis doesn't already own for 48 usd a share. But rival Roche was down 2.30 sfr at 190.60, on profit-taking with the shares failing to benefit from news that Xeloda, as the first-line treatment in advanced gastric cancer, successfully met its primary endpoint in a Phase III study. Elsewhere in the healthcare sector, Serono was off 0.50 sfr at 915, while Nobel Biocare declined 9.75 sfr or 3.3 pct to 286, on a new study by Merrill Lynch regarding problems with its dental implants. Fellow heavyweight Nestle decreased 1.25 at 382.50 sfr. Swatch was up 0.10 sfr at 220.10, with chairman Nicolas Hayek saying that the company's own brand watches, a relatively weak point in recent results, has achieved 'an unusually high growth in turnover and results' in the first few months of 2006. Swatch also announced a retail partnership with Tourneau, the world's largest watch store, to open a chain of watch stores in premium outlet malls across the US. In the banking sector, UBS was up 0.30 at 146 sfr, and Credit Suisse up 0.65 at 75.75 sfr. Julius Baer gained 2.40 or 2 pct at 123 sfr. Holcim was another major gainer, climbing 1.10 or 1 pct at 106.80, after being upgraded to 'overweight' from 'underweight' with an increased target price of 121 sfr by Morgan Stanley. But ABB was down 0.20 or 1.2 pct at 16.45, with CEO Fred Kindle in an interview ruling out making any acquisitions this year. Syngenta, was another notable weak spot, shedding 4.60 sfr or 2.5 pct to 182, due to a combination of negative factors, such as the recently bad weather, which may weigh on the agribusiness group's sales, and disappointing results from rival Monsanto. afx.zurich@afxnews.c at/cml | grupo guitarlumber | |
03/4/2006 17:13 | LODH Wary Ahead Of Syngenta's 1Q Numbers Monday, April 03, 2006 7:58:15 AM ET Dow Jones Newswires 1046 GMT [Dow Jones] Lombard Odier says the US Department of Agriculture's data shows US farmers will switch to soybeans from crops, which is expected to have a negative influence on Syngenta's (SYT) US revenues in '06. Syngenta has a bigger exposure to corn than to soybeans. However, says it won't read too much into the data, but remains "slightly wary of the high comparison base" for Syngenta's 1Q figures. Results due April 19. Keeps hold rating, CHF195 target. Shares trade +1.8% at CHF186.40. (SWZ) | waldron | |
24/3/2006 06:47 | Friday 24.03.2006, CET 07:38  Brazilian police raid Credit Suisse arm  swissinfo  March 23, 2006 3:10 PM  Credit Suisse headquarters in Zurich have admitted that a Brazilian subsidiary was targeted by police (Credit Suisse) Federal police in Brazil have searched the offices of the private banking unit of Credit Suisse in Sao Paulo, the Swiss bank has confirmed.  Investigators were trying to find out if the bank's wealthy clients were sending money out of the country without declaring the transfers to the authorities.  RELATED ITEMS  Syngenta fined over GM tests in Brazil Promised land awaits over the fence   A Credit Suisse spokeswoman said the police had been on the bank's premises on Tuesday, but admitted she did not know why the raid was carried out or what the investigators were looking for. Credit Suisse, Switzerland's second-largest bank after UBS, says it has been fully cooperating with the authorities, but has declined to comment on the investigation itself. Brazilian police said they locked safes at the Sao Paolo offices and got a court order preventing executives from leaving the country. According to local media, the police spent eight hours searching the premises and computer hard drives were seized. The investigation was allegedly launched late last year. Federal investigators and tax authorities have raided several prominent businesses in Brazil recently, including Banco Santos, a bank that eventually closed down, and Daslu, a luxury shopping emporium.  Bad week  Several other Swiss corporations have come under the spotlight this week in Brazil. Engineering group ABB confirmed on Tuesday that it was under investigation as part of a probe into alleged price fixing by a number of multinationals. The Brazilian justice ministry announced that it had opened an investigation into a suspected price-fixing cartel involving manufacturers of gas-insulated switchgear. Other companies said to be involved include France's Areva, Germany's Siemens and three Japanese firms. On Wednesday, Swiss agrochemicals giant Syngenta was handed a SFr600,000 ($461,000) fine for planting transgenic seeds close to a protected nature reserve. The Basel-based company strongly denies any wrongdoing and says it will appeal against the penalty imposed by Brazil's environmental protection agency, Ibama. The fine relates to the company's test site for genetically modified (GM) soya bean and corn in southern Brazil, which has been occupied by hundreds of peasant activists for over a week. Ibama says Syngenta broke the law by planting 30 acres of transgenic soy six kilometres from a national park, inside a ten-kilometre exclusion zone. Syngenta claimed that the GM crop is outside the protected area, adding that it had all the necessary legal permits for its experiments. | ariane | |
18/3/2006 13:01 | Investors turn to Europe for returns, stability By Andrew Leckey | Posted March 19, 2006 Jan. 1: Stock experts predict gains for '06, but warning signs abound Investors nervous about market volatility around the globe and lackluster prospects for the U.S. have been turning to a familiar destination. Europe is a known quantity, considered quite promising and relatively stable. As money pulled out of Asian and U.S. markets has flowed into Europe this year, its markets have responded favorably: -- Developed European markets are up 7 percent, as measured by the Dow Jones Stoxx 600 index, compared to a 3 percent increase for the U.S. benchmark Standard & Poor's 500 index. The European index outperformed the S&P 500 in both 2004 and '05. Emerging European markets have outperformed both this year, although experts say they contain several risks. -- The average European region stock fund is up 7 percent this year versus the 3 percent gain for the average U.S. diversified stock fund, according to Lipper Inc. In February, Europe posted the globe's best regional returns, according to Standard & Poor's, led by small-cap and German stocks. Although Europe's overall returns haven't matched the dramatic gains of Latin America or China, they don't carry their extreme volatility either. "Name some European companies and chances are average U.S. citizens have heard of a lot of them, which provides an immediate comfort level based on name recognition," said Scott Snyder, lead manager for ICON Europe Fund, up 23 percent over the past 12 months with a three-year annualized return of 36 percent. Not only does Europe represent a bigger chunk of the market outside the U.S. than any other region, Snyder said, but accounting standards are coming more in line with those of the U.S. He believes investors should have some exposure to Europe in their portfolios. The region's recent gains are a game of catch-up, because European stock prices had lagged significantly behind U.S. shares during the first few years of the decade. "The biggest reason is the continued closing of a rather large valuation discrepancy between the U.S. and Europe that had existed early this decade and had been as high as 35 percent," said Jason Holzer, senior portfolio manager for AIM European Growth Fund, up 17 percent the past 12 months with a three-year annualized return of 36 percent. Europe, Holzer said, provides a contrast to the structural imbalances in the U.S. that include high consumer debt and a record trade deficit. There's a speculative side because low interest rates have resulted in greater liquidity and the rise of hedge fund and private equity activity throughout Europe. Acquisitions, especially in utilities and telecommunications, are lifting the market. "The merger and acquisition boom in Europe is a long-term theme that's been driving the continuation of the rally this year," said Alec Young, equity market strategist with S&P. "U.S. private equity firms are going into Europe looking for low-hanging fruit in terms of restructurings, and that's driving the creation of value." Emerging European markets provide the most punch. The hottest fund is Metzler/Payden European Emerging Markets Fund, which is up 33 percent the past 12 months and has a 51 percent three-year annualized return. It is emphasizing energy, telecom and finance. "Economies of Eastern Europe, mostly Russia, Poland, Hungary, the Czech Republic and Romania, are outperforming both the broad European and U.S. markets," said Vladimir Milev, financial investment analyst with Metzler/Payden European Emerging Markets. "This a unique time in their history when staples of life that were uncommon under the socialist system--such as cars and cell phones--now provide a good business for a lot of companies." Because these new markets have been rallying since mid-2001, the concern is whether it is sustainable and at what point it will correct. The potential for volatility and correction is greater now because the markets have grown significantly and hedge funds are involved, Milev said. Among the continent's three largest economies, German stocks have been strong performers, up 27 percent last year, followed by the 23 percent gain in French shares and the 17 percent gain in British stocks. Exchange-traded funds track stocks in all three countries. All investors in European funds inevitably face currency, economic, political, trade and demographic risks, so spreading the uncertainty with a diversified mutual fund makes sense, experts said. Their managers research company financials not readily available or even in English. U.S. investors also can buy stocks of European companies traded here as American depositary receipts, known as ADRs. Several noteworthy ADRs of European firms: -- Syngenta AG, a Swiss agribusiness, is expected to grow at double-digit rates the next few years and has aggressively returned cash to shareholders. Holzer holds its shares. -- Credit Suisse Group, one of the world's top private banking franchises, has exceptional profit margins, excellent finances and ability to assume risk. It's a Snyder holding. -- Unilever NV, a United Kingdom-Netherlands company that is one of the world's largest packaged-food firms, with about $49 billion in annual sales, also makes familiar products Dove and Ponds. It's recommended by S&P. -- Petroleum Geo-Services ASA, a Norwegian oilfield-services company with pricing power and demand for its services, is restructuring by splitting its floating production and marine seismic divisions. Holzer holds it. -- Total SA, a French oil giant with impressive new production pipelines in the Middle East and Africa, also has extensive and controversial operations in Iran. An S&P recommendation. Andrew Leckey is a Tribune Media Services columnist. | waldron | |
17/3/2006 06:30 | Agro-biotech giant Syngenta plants illegal Genetically Engineered crop in Brazilian World Heritage Site Over 1,000 farmers protest at the site as Greenpeace demands action15 March 2006 Ripening soya beans in field near Harbin. Curitiba, Brazil - Over one thousand farmers occupied the site of an illegal field trial of GE soybeans planted by agro-biotech giant Syngenta in the National Park of Iguacu in Parana, southern Brazil on Tuesday. The site of the illegal trails was occupied by protesting farmers from "Via Campesina" an organisation representing small farmers in the region. Ironically, the illegal crop was planted near to Curitiba, where 132 countries are meeting to agree measures to prevent illegal movement and planting of GE crops and to protect biodiversity - the so-called Biosafety Protocol. Brazilian legislation prohibits the release of GMOs in protected areas and their surroundings Greenpeace immediately called for the crop to be destroyed. "This is an environmental crime and clearly illustrates the GMO industry's attitude on Biosafety and their level of respect for biodiversity." said Mariana Paoli, Greenpeace genetic engineering campaigner "We expect the Brazilian government to fully investigate the case, to hold Syngenta accountable and to destroy this field trial immediately." Parana's Governor, Roberto Requião has offered to have Syngenta's soybeans burnt immediately, declaring that he wants to continue to keep the State free of GMOs. Brazil's minister for Environment, Marina Silva, who is present at the Biosafety Protocol meeting also announced that the case would be investigated and would eventually lead to prosecutions. Delegates from 132 countries meeting at the third meeting of the International Biosafety Protocol are locked in negotiations on international standards for labelling of shipments of genetically engineered food and feed. Accurate and specific labelling of GMO crops is vital in order to ensure they do not mix with non-GE products and 'leak' into the environment. Also at stake is risk assessment of GE Organisms and their impact on biodiversity. Contact information Mariana Paoli, Genetic engineering campaigner, Greenpeace Brazil +55.41.96771824 Rubens Nodari, Ministry of Environment, Brazil +55.6196452863 Altacir Bude, Via Campesina, Brazil +55.61.92018031 | waldron | |
11/3/2006 07:57 | EU Shows Split Over Biotech Foods as Worries Persist (Update1) March 9 (Bloomberg) -- European Union nations laid bare their divisions over genetically modified foods, highlighting the obstacles companies such as Monsanto Co. and Syngenta AG face in gaining more access to the 25-nation market. Environment ministers from EU nations including Spain and Italy today demanded stricter European rules for approving gene- modified organisms. Ministers from other EU governments including Denmark and Ireland said the existing legislation was adequate to guard against risks to health and the environment. ``We need more thorough European legislation,'' Spanish Environment Minister Cristina Narbona said in a public debate in Brussels. Her Danish counterpart, Connie Hedegaard, said the EU's ``regulations provide us with a high level of protection. GMOs are here and we have to take decisions on specific applications.'' The European Commission, the bloc's executive arm, wants to speed up gene-altered food approvals to give Europe a bigger share of the $5 billion global biotech-crop market. The commission in 2004 ended a six-year moratorium that stemmed from worries across Europe that gene-engineered products pose risks such as human resistance to antibiotics and the development of ``superweeds'' impervious to herbicides. Biotech foods range from grain to tomatoes whose genetic material has been altered to add beneficial traits such as resistance to weed-killing chemicals. The EU introduced stricter biotech-food laws, including new rules on labeling, before ending its ban two years ago. Impediments EU members can still slow or block approvals because the commission must consult national authorities when it seeks authorizations for the bloc-wide sale of gene-modified products for food, feed or cultivation. The approximately 10 EU approvals since the moratorium ended all resulted from the commission acting on its own after member states failed to muster a sufficient majority for or against, a situation that adds months to the decision-making process. The World Trade Organization ruled last month that the EU ban was illegal and left open the question of whether the current pace of approvals is compatible with global-trade rules. The WTO ruling resulted from a complaint by the U.S., Argentina and Canada, the world's three biggest growers of gene-modified seeds. The EU has yet to approve an application to cultivate a gene- modified product since ending the moratorium, limiting authorizations to food and feed use. Planting Requests Environment Commissioner Stavros Dimas declined to say when the commission would start the approval process for a planting request, telling reporters today that the EU first needs to put in place a system that would prevent biotech crops from mixing with conventional ones. Asked whether the commission might act on a cultivation application in the second half of 2006, Dimas said, ``It could.'' Narbona of Spain, where most of the EU's cultivation of gene- altered crops has taken place, stressed the risks of pressing ahead with such plantings. ``You may have cross-contamination occurring,'' she said in the public debate. ``We have to have safe distances established between crops.'' One aspect of EU decision-making over gene-modified foods drew broad criticism, including from some ministers who expressed support for the current legislative framework and urged more decisions on products. Because national votes are weighted according to the size of member states, situations can arise where the commission can endorsed an application even though more than half the countries oppose it. This occurs when the group of opponents doesn't form a sufficient majority on the basis of total votes to block an approval. The ministers called for a change in this rule. The practice also affects decisions in other areas of EU regulation, complicating any effort to alter the procedure for biotech goods. To contact the reporter on this story: Jonathan Stearns in Brussels at jstearns2@bloomberg. Last Updated: March 9, 2006 10:55 EST | ariane | |
07/3/2006 06:09 | Monsanto, Syngenta Shares Gain Even as EU Opposes GMO Seeds March 7 (Bloomberg) -- Genetically modified food, shunned by consumers in Europe, is winning acceptance in emerging markets. Seedmakers such as Monsanto Co. and Syngenta AG are reaping the rewards. Shares of both companies reached records in recent weeks even as the European Union rejected calls to open its market to seeds that are genetically altered to resist pests and diseases. Demand from countries such as China is helping to offset slower sales in the developed world, said Nick Robinson, who helps manage $2 billion at Aberdeen Asset Management in Philadelphia. ``The world has to wake up to the fact that there are food shortages out there,'' said Robinson, who owns shares of Dow Chemical Co., which also makes genetically modified seeds. ``You can be reasonably confident'' that seedmakers will benefit from demand in developing countries. Shares of St. Louis-based Monsanto, the world's biggest producer of genetically modified seeds, have gained 13.5 percent in 2006, reaching a record on March 3. Syngenta, whose products include corn and soybean seeds, closed at an all-time high Feb. 22. The Basel, Switzerland-based company's shares are up 13 percent this year. Morgan Stanley Capital International's World Index, a measure tracking stocks worldwide, is up 4.3 percent. Monsanto on Feb. 14 said earnings in the fiscal year ending August will be at the upper end of its forecast range as farmers plant more bio-engineered corn such as its Roundup Ready herbicide- resistant seed. Syngenta on Feb. 9 said profit advanced 35 percent last year, helped by an increased share of the North American seed market. Beating the Pack The companies' shares have outperformed those of competitors such as DuPont Co., the biggest maker of corn and soybean seeds, and Germany's Bayer AG, the world's second-largest maker of crop chemicals. Monsanto and Syngenta make all their sales in agricultural products, while the other three companies have chemical businesses that are getting hurt by rising oil prices. Oil accounts for as much as 60 percent of chemical makers' raw material costs, according to Credit Suisse. Shares of DuPont, based in Wilmington, Delaware, have dropped 4.6 percent this year and Midland, Michigan-based Dow's stock has slipped 0.3 percent. Bayer, based in Leverkusen, Germany, has declined 8.2 percent. Seedmakers' shares aren't cheap. Monsanto sells for 41 times the company's profit for the past year, above the price-earnings multiple of 18 for the Standard & Poor's 500 Index. Syngenta fetches 21 times earnings versus 16 times for the Dow Jones Stoxx 600 Index. Growing Market The global market for genetically altered crops may rise 4.8 percent to $5.5 billion this year, according to the International Service for the Acquisition of Agri-biotech Applications, a non- profit group that provides farm technology to developing nations to alleviate poverty. The use of biotechnology seeds will accelerate in the next 10 years as farmers in emerging economies such as China seek more reliable harvests, according to the organization, which has its U.S. headquarters at Cornell University in Ithaca, New York. Argentina and Brazil are the biggest producers of genetically modified crops after the U.S., according to the International Service for the Acquisition of Agri-biotech Applications. China is the fifth-largest. More than 800 million people globally are undernourished, according to the United Nations. That's equivalent to 12 percent of the world's population. About 90 percent of the hungry live in Asia and Africa, UN data show. Health Effect? Nobel Peace laureates Norman Borlaug and Jimmy Carter wrote in the Wall Street Journal in October that opposition to advances in agricultural science may lead to suffering and death, especially in Africa. European governments including Germany and France, as well as environmental groups such as Greenpeace International, have sought to curb the use of genetically modified seeds, saying the crops harm human health and the environment. The EU rejected calls for a more open market, even after the World Trade Organization ruled last month that the European bloc's ban on seed imports didn't have adequate scientific evidence to justify it. ``The safety issue surrounding GM food isn't going to go away,'' said Aberdeen's Robinson. The U.S., which accounts for 55 percent of the world's genetically modified crops by acreage, insists that the seeds are safe and shouldn't be distinguished from conventional ones. Consumers are skeptical. Americans opposed to gene-altered food outweighed those in favor by a 2-1 ratio, according to a November survey by the Pew Initiative on Food and Biotechnology, a Washington-based research group. The EU in June published a report showing that more than half of its 450 million citizens thought genetically modified food was dangerous. Cultivating Profits The lack of enthusiasm hasn't prevented a surge in earnings for seedmakers. Syngenta, formed in 2000 from a merger of the farm chemicals units of Swiss drugmaker Novartis AG and the U.K.'s AstraZeneca Plc, on Feb. 9 increased its stock buyback program and said it will return $800 million to shareholders through dividends. ``It's a cash machine,'' said Jan Leroy, who helps manage $7.2 billion including Syngenta shares at Petercam Asset Management in Brussels. ``The company is well positioned for growth in Latin America and Asia.'' Monsanto's earnings will rise 17 percent this year and 22 percent in 2007, based on the average analyst forecast compiled by Thomson Financial. For all the debate in Europe about the safety of genetically modified foods, consumers eventually may embrace them because they're cheaper, regardless of what surveys show, according to Peter Braendle, a fund manager at Swisscanto Asset Management in Zurich. Shoppers ``will buy the cheaper product, even if it's genetically modified,'' said Braendle, who helps manage $44 billion and owns shares of Bayer. ``They might still tell you they're opposed'' to GM food. To contact the reporter for this story: Kotaro Miyata in London at kmiyata2@bloomberg.n Last Updated: March 6, 2006 19:26 EST | waldron | |
06/3/2006 17:15 | Syngenta Gained Mkt Share From Rivals -LODH Monday, March 06, 2006 12:01:35 PM ET Dow Jones Newswires 1543 GMT [Dow Jones]--Bayer (BAY) FY 05 results show that Syngenta (SYT) performed stronger than peers and took market share, says Lombard Odier Darier Hentsch. Bayer's crop science sales declined 4.9% in 4Q compared with a -1% decline in actual currencies at Syngenta and a 2% rise if calculated in constant exchange rates. Keeps Syngenta at hold, with a CHF195 target. Trades +1% at CHF184.60. (SWZ) | waldron | |
06/3/2006 12:48 | Syngenta signs deal with rival DuPont By Matt Evans The Business Journal of the Greater Triad Area Updated: 7:00 p.m. ET March 5, 2006 Syngenta and DuPont, competitors in the specialty agricultural chemical industry, have signed an agreement that will see the firms swap licenses to key crop protection products, allowing each to use the other's technology to grow their markets. Activity spawned by the deal will lead to the addition of about 20 science and marketing positions at Syngenta Crop Protection's North American headquarters in Greensboro over an undetermined period of time, according to Rob Neill, the division's vice president of professional products. | waldron | |
04/3/2006 12:26 | MARCH 13, 2006 Â Gene Marcial INSIDE WALL STREET How Syngenta's Garden Grows Although it is a big global player in seeds and crop protection, Switzerland's $16 billion market cap Syngenta (SYT ) gets scant attention on the Street. Still, its American depositary receipts have shot from 20 in mid-August to 28. Thomas Gilbert of UBS (UBS ) in Switzerland (which has done banking for Syngenta) figures the stock has more upside: His price target is 37. He sees Syngenta earning $9.65 a share in 2006 and $11.52 in 2007 (before special charges) vs. $8.46 in 2005. Some 78% of the company's total 2005 sales of $8.1 billion in more than 90 countries comes from herbicides, insecticides, and fungicides, and the rest from seeds. Crop protection is a $35 billion market, says Chief Financial Officer Domenico Scala. Syngenta, he notes, has $700 million in free cash flow, part of which will be used for share buybacks. Scala also says one of the company's new focuses will be in producing ethanol-based biofuels: It filed results of pilot trials with the U.S. Agriculture Dept. last year. Already, a European Union law requires member countries to raise biofuel use to 5.75% of consumption by 2010 from 2% in 2005. Among Syngenta's big rivals are DuPont (DD ), Monsanto (MON ), Dow Chemical (DOW ), and Bayer (BAY ). Note: Unless otherwise noted, neither the sources cited in Inside Wall Street nor their firms hold positions in the stocks under discussion. Similarly, they have no investment banking or other financial relationships with them. | waldron | |
28/2/2006 06:10 | Syngenta AG Ads Syngenta Extends China Manufacturing Facility to Support Asia Growth BASEL, Switzerland, Feb. 28 /PRNewswire-FirstCal The new technology center in China has been established to provide technical support for additional local production and global sourcing. The 1600 square meter facility has four advanced laboratories for analysis and process development. On the same site, the company also broke ground for a new manufacturing facility to meet growing demand for its modern insecticide portfolio. This is expected to become operational by mid 2007. Participating in the opening ceremony, John Atkin, COO, Syngenta Crop Protection said: "These latest two projects at our Nantong site will significantly expand our capability to manufacture cost-competitive products that meet the highest standards. They will further strengthen our position in the growing Asian market". The Syngenta Nantong site was established in 1998 and is one of the largest agrochemical facilities in China. Since its opening in 2001, the site was granted numerous awards for safety, environmental performance and technology. 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 more than 19,000 people in over 90 countries. Syngenta is listed on the Swiss stock exchange (SYNN) and in New York (NYSE:SYT). Further information is available at Media Enquiries: Switzerland: Guy Wolff Tel: +41 (61) 323 2323 USA: Sarah Hull Tel: +1 (202) 628 2372 UK: Andrew Coker Tel: +44 (1483) 26 0014 Analysts/Investors: Switzerland: Jonathan Seabrook Tel: +41 (61) 323 7502 Jennifer Gough Tel: +41 (61) 323 5059 USA: Rhonda Chiger Tel: +1 (917) 322 2569 FCMN Contact: evelyne.palma@syngen DATASOURCE: Syngenta CONTACT: Media: Guy Wolff, Switzerland, +41-61-323-2323, Sarah Hull, USA, +1-202-628-2372, Andrew Coker, UK, +44-1483-26-0014, or Analysts/Investors: Jonathan Seabrook, Switzerland, +41-61-323-7502, Jennifer Gough, Switzerland, +41-61-323-5059, Rhonda Chiger, USA, +1-917-322-2569, all of Syngenta Web site: | waldron | |
23/2/2006 09:32 | Syngenta, DuPont Cooperation Is Positive Thursday, February 23, 2006 4:14:57 AM ET Dow Jones Newswires 0801 GMT [Dow Jones] Cooperation between Syngenta (SYT) and DuPont (DD) to exchange crop protection technology is a positive move, as both companies will get access to new technology, notes Bank Sarasin analyst Bernd Pomrehn. It also shows the marketing power of Syngenta in insecticides, where its market share is an estimated three times higher than DuPont's. Rates Syngenta at buy, CHF205 target. Shares closed at CHF191.60. (SWZ) | grupo guitarlumber | |
23/2/2006 07:15 | Syngenta and DuPont RNS Number:8225Y Syngenta AG 23 February 2006 Media Release Syngenta and DuPont announce crop protection technology exchange Basel, Switzerland and Wilmington, Delaware, USA, 23 February 2006 Syngenta and DuPont today announced an agreement that will broaden each company's crop protection product offer. o Syngenta acquires an exclusive worldwide license to develop DuPont's new insecticide RynaxypyrTM in mixtures with its own leading insect control products. RynaxypyrTM is a chemical of the bisamide class characterized by unique systemic properties and outstanding activity on all major lepidoptera pests. DuPont will continue its commercialization plan for straight RynaxypyrTM. o DuPont Crop Protection acquires worldwide rights to Syngenta's strobilurin fungicide picoxystrobin, sold as Acanto(R), including access to companion products used in mixtures. Acanto(R) is currently marketed in Europe on cereals and will be expanded for use on soybeans in Latin America. The transactions are subject to certain national regulatory approvals. Financial terms were not disclosed. John Atkin, Chief Operating Officer, Syngenta Crop Protection, said: "This agreement gives Syngenta access to a novel class of chemistry that will set new standards in lepidoptera control. Combinations of RynaxypyrTM with our modern insecticides will provide new broad-spectrum solutions in the global insecticide market estimated at around $7 billion. First launches are targeted for 2009. We shall continue to expand our industry-leading position in fungicides led by Amistar(R) and its range of combination products." James C. Collins, Vice President and General Manager of DuPont Crop Protection, commented: "These agreements further enhance our position in the global fungicide market estimated at around $ 7 billion. With picoxystrobin, DuPont fills a gap and gains access to major fungicide customers and markets in the EU, Latin America and later in the United States. In insecticides, the agreement we have reached with Syngenta will allow us to expand and accelerate the market potential for our new cutting edge technology." 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 more than 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 www.syngenta.com. DuPont is a science company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture, nutrition, electronics, communications, safety and protection, home and construction, transportation and apparel. Syngenta Media: Switzerland: Guy Wolff Tel: +41 (61) 323 2323 USA: Sarah Hull Tel: +1 (202) 628 2372 UK: Andrew Coker Tel: +44(1483) 26 0014 Syngenta Analysts: Switzerland: Jonathan Seabrook Tel: + 41 (61)323 7502 Jennifer Gough Tel: + 41 (61)323 5059 USA: Rhonda Chiger Tel: +1 (917) 322 2569 DuPont Media: USA: Gabrielle King Tel: +1 (302) 999 5393 DuPont Analysts: USA: David Peet Tel: +1 (302) 774 1125 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. This information is provided by RNS The company news service from the London Stock Exchange END NRATJMFTMMJTMMF | grupo guitarlumber | |
22/2/2006 09:11 | Sell Syngenta Options If Unable To Claim Taxes Wednesday, February 22, 2006 3:45:17 AM ET Dow Jones Newswires 0729 GMT [Dow Jones] Sell Syngenta (SYT) put-options - linked to its share buyback - when you can't claim the tax back later in the year, says UBS. Syngenta holders get one put-option a share with a CHF1.50 value and 30 put options allow the investors to sell one share to the company at CHF234 on exercise date May 23. For those who can claim taxes back - Swiss institutionals and those with double taxation agreements - UBS advises to buy options during the trading period, February 23 to May 22, below their value at around CHF1.48, to reflect carrying time and value of tax deferral. Keeps at buy, CHF240 target. Syngenta closed at CHF189. (SWZ) | waldron | |
22/2/2006 06:36 | Syngenta AG Ads Syngenta Share Repurchase: Confirmation of Put Option Terms BASEL, Switzerland, Feb. 22 /PRNewswire-FirstCal Shareholders may sell one Syngenta registered share to the company with every 30 options held; the strike price has been set at CHF 234.00. The exercise date is May 23 with settlement on May 29, 2006. The put options will be listed on SWX Swiss Exchange (SWX) and will be freely tradable between February 23 and May 22, 2006, the last day of trading. 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 more than 19,000 people in over 90 countries. Syngenta is listed on the Swiss stock exchange (SYNN) and in New York (NYSE:SYT). Further information is available at Media Enquiries: Switzerland: Guy Wolff Tel: +41 (61) 323 2323 USA: Sarah Hull Tel: +1 (202) 628 2372 UK: Andrew Coker Tel: +44 (1483) 26 0014 Analysts/Investors: Switzerland: Jonathan Seabrook Tel: +41 (61) 323 7502 Jennifer Gough Tel: +41 (61) 323 5059 USA: Rhonda Chiger Tel: +1 (917) 322 2569 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. First Call Analyst: FCMN Contact: evelyne.palma@syngen DATASOURCE: Syngenta CONTACT: Media: Switzerland, Guy Wolff, +41-61-323-2323, USA, Sarah Hull, +1-202-628-2372, or UK, Andrew Coker, +44-1483-26-0014, Analysts/Investors: Switzerland, Jonathan Seabrook, +41-61-323-7502, Jennifer Gough, +41-61-323-5059, or USA, Rhonda Chiger, +1-917-322-2569, all of Syngenta Web site: | waldron | |
17/2/2006 10:17 | Morgan Stanley Ups Syngenta Price Target Friday, February 17, 2006 4:14:14 AM ET Dow Jones Newswires 0750 GMT [Dow Jones]--Morgan Stanley lifts Syngenta (SYT) price target to CHF220 from CHF150, reflecting a stronger-than-expect | ariane |
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