Monheim, December 5, 2013 –
Bayer CropScience announced today it entered into an agreement to purchase the start-up company FN Semillas S.A. based in Buenos Aires, Argentina. FN Semillas S.A. specializes in the breeding, production and marketing of improved soybean seeds in Argentina. This acquisition ratifies the commitment of Bayer CropScience in Argentina and marks the company’s entrance into the national soybean seed market in this country. Financial details were not disclosed.
Since its establishment in 2010, FN Semillas S.A. has built up a solid presence in the Argentine market. "Soybean is a strategic crop for the region and for Bayer CropScience, and this acquisition gives us access to quality germplasm for future variety and trait development,” said Marc Reichardt, Head of the Region Latin America for Bayer CropScience. “With our existing product portfolio and FN Semillas S.A. value-added varieties, we are now in the position to provide Argentinian soybean farmers a comprehensive range of solutions including seeds, crop protection products and services.”
For Bayer CropScience, this acquisition is another step in building an outstanding global soybean seed platform, and further underlines the importance of the Latin American region in this context. Over the past three years, the company announced a series of acquisitions in Brazil, including the germplasm bank of Agropastoril Melhoramento, the soybean seed companies Wehrtec and SoyTech, and the plant breeding technology of CVR.
“Our acquisitions mean we will be able to offer Latin American farmers the latest developments from our soybean trait pipeline in highly competitive local varieties,” said Reichardt. “Building on a broadened soybean variety portfolio and our global trait research, we will be able to provide farmers with a wide range of maturity groups, tailored to the region’s diverse growing conditions.”
The acquisition will be filed for clearance before the Antitrust Authority in Argentina.
About Bayer CropScience
Bayer is a global enterprise with core competencies in the fields of health care, agriculture and high-tech materials. This year the company looks back on 150 years of working to fulfill its mission “Bayer: Science For A Better Life”. Bayer CropScience, the subgroup of Bayer AG responsible for the agricultural business, has annual sales of EUR 8,383 million (2012) and is one of the world’s leading innovative crop science companies in the areas of seeds, crop protection and non-agricultural pest control. The company offers an outstanding range of products including high value seeds, innovative crop protection solutions based on chemical and biological modes of action as well as an extensive service backup for modern, sustainable agriculture. In the area of non-agricultural applications, Bayer CropScience has a broad portfolio of products and services to control pests from home and garden to forestry applications. The company has a global workforce of 20,800 and is represented in more than 120 countries. This and further news is available at: www.press.bayercropscience.com.
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