Syngenta and DuPont Announce Ownership Change at GreenLeaf Genetics
o Syngenta takes full ownership of former joint venture
o Platform for licensing of Syngenta germplasm and traits
o Enhanced offer for independent seed companies
BASEL, Switzerland and WILMINGTON, Del., Nov. 10, 2010 - Syngenta and DuPont today announced that Syngenta has assumed full ownership of GreenLeaf Genetics, LLC, effective November 8, 2010. The transaction dissolves a joint venture between Syngenta Seeds, Inc. and DuPont business Pioneer Hi-Bred. It enables Syngenta and Pioneer to pursue independent licensing strategies for their respective proprietary corn and soybean genetics and biotechnology traits.
Davor Pisk, Chief Operating Officer, Syngenta Seeds said: "With full control of GreenLeaf Genetics, we will be able to move more quickly in broadening access to our rapidly expanding portfolio of innovative traits and germplasm. This new ownership structure underscores Syngenta's commitment to helping independent seed companies provide a wide range of choices to growers."
"Pioneer has valued the GreenLeaf Genetics joint venture for more than four years. GreenLeaf Genetics will continue to fulfill an important role in the seed industry by offering farmers choices in new and unique selection of corn and soybean products," said Paul E. Schickler, President - Pioneer Hi-Bred. "Pioneer looks forward to a continued relationship with both GreenLeaf Genetics and Syngenta."
GreenLeaf Genetics was originally launched by Syngenta in 2004 and became a joint venture with Pioneer in April 2006. It will now operate as a wholly owned subsidiary of Syngenta Seeds, Inc. Terms of the transaction were not disclosed.
About Syngenta
Syngenta is one of the world's leading companies with more than 25,000 employees in over 90 countries dedicated to our purpose: Bringing plant potential to life. Through world-class science, global reach and commitment to our customers we help to increase crop productivity, protect the environment and improve health and quality of life. For more information about us please go to www.syngenta.com.
About Pioneer
Pioneer Hi-Bred (www.pioneer.com), a DuPont business headquartered in Des Moines, Iowa, is the world's leading developer and supplier of advanced plant genetics, providing high-quality seeds to farmers in more than 90 countries. Pioneer provides agronomic support and services to help increase farmer productivity and profitability and strives to develop sustainable agricultural systems for people everywhere. Science with Service Delivering Success(TM).
About DuPont
DuPont (www.dupont.com) is a science-based products and services 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 90 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.
About GreenLeaf Genetics, LLC
GreenLeaf Genetics, LLC, offers licenses for corn and soybean genetic material to foundation seed houses and seed companies and facilitates the licensing of biotech traits.
SOURCE Syngenta; DuPont
CONTACT:
Syngenta International AG Media Office,
Switzerland,
+41-61-323-23-23,
Fax: +41-61-323-24-24,
Syngenta Media contact:
Medard Schoenmaeckers,
Switzerland,
+41-61-323-2323,
media.relations@syngenta.com,
Syngenta Analyst/Investor contact:
Jennifer Gough,
Switzerland,
+41-61-323-5059,
USA,
+1-202-737-6521;
DuPont Media Office,
United States,
+1-302-774-4805,
DuPont Media contact:
Doyle Karr,
USA,
+1-515-270-3428,
doyle.karr@bio1.dupont.com,
DuPont Analyst/Investor contact:
USA,
+1-302-774-4994
Web Site: www.syngenta.com
