Friday, March 9, 2012

Bayer CropScience Acquires Germplasm Assets of ProSoy Genetics

Expanding options for soybean-breeding

Monheim, March 9, 2012 – Bayer CropScience has acquired the germplasm assets of ProSoy Genetics, the soybean breeding division of privately-held Thompson Agronomics based in Leland, Iowa, USA. Financial details were not disclosed. The acquisition reflects Bayer CropScience’s strategic commitment to developing superior germplasm.

Since its founding in 1975, ProSoy and Thompson have built a reputation for breeding excellence as one of the Midwest’s last remaining independent seed breeding programs. ProSoy is well-known for its high-yielding, highly diverse germplasm that is well adapted to the broad, Midwest growing region. The company focuses on germplasm in maturities 1 through 3, appropriate for much of the US and Canadian soybean acreage.

The acquisition broadens the maturity range of soybean germplasm available to Bayer’s existing breeding efforts, and also provides a vehicle for delivering Bayer’s LibertyLinkTM and other desirable traits into the Midwest marketplace. The company has a robust research and development pipeline including herbicide-tolerance and insect- and nematode resistance programs specific to soybeans.

“Bayer CropScience is pleased about the opportunity to bring the excellent germplasm assets of ProSoy into our expanding soybean breeding program,” said Dr. Mathias Kremer, Head of the business unit BioScience of Bayer CropScience. “This move strengthens our position as a provider of both soybean germplasm and traits, and helps us in our quest to deliver tailored, high-performance solutions to farmers across the soybean growing regions of the United States that help them address the critical productivity challenges facing them today and into the future.”

”Our focus has always been on the research and development of strong soybean genetics,” said Tom Thompson, President of ProSoy Genetics. “We are excited for the opportunity to integrate our high yielding genetics with Bayer’s superb biotechnology innovations.”

Soybean is a strategically important crop for Bayer CropScience. The company is committed to delivering integrated solutions targeting higher yield through germplasm, traits and crop protection solutions. In recent years, the company has made significant investments to expand its soy business, including the acquisition of Hornbeck Seeds.

About Bayer CropScience
Bayer is a global enterprise with core competencies in the fields of health care, nutrition and high-tech materials. Bayer CropScience, a subgroup of Bayer AG with annual sales of EUR 7.255 billion (2011), is one of the world’s leading innovative crop science companies in the areas of crop protection, non-agricultural pest control, seeds and traits. The company offers an outstanding range of products and extensive service backup for modern, sustainable agriculture and for non-agricultural applications. Bayer CropScience has a global workforce of 21,000 and is represented in more than 120 countries. This and further news is available at: www.press.bayercropscience.com.

Contact:

Bayer CropScience: Richard Breum, Tel. +49 2173 38-3270
E-Mail: Richard.Breum@bayer.com

Thompson Agronomics: Shaun Thompson, Tel. +1 651 245-3169
E-Mail: Shaun.Thompson@thompsonagro.com

Find more information at www.bayercropscience.com.

Forward-Looking Statements
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer Group or subgroup management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

View all labels / MSDS

Copyright © Bayer CropScience