Acquisition Expands Corn Seed Platform in Europe
INDIANAPOLIS, Aug. 30 -- Dow AgroSciences, a wholly owned subsidiary of The Dow Chemical Company, announced today that it has further strengthened its global corn seeds platform with the acquisition of Netherlands-based Duo Maize. The deal follows two other recent acquisitions in the corn seeds arena, involving Brazil's Agromen Tecnologia, and Austrian company Maize Technologies International (MTI).
"The expanding seed platform that we are building will enable us to leverage superior Dow AgroSciences input and output traits in key crops around the world," said Jerome Peribere, Dow AgroSciences president and chief executive officer.
"This is another example of Dow's commitment to pursuing strategic investment opportunities that drive value growth in the Company's downstream Performance businesses -- including Agricultural Sciences," he added.
Duo Maize is a corn germplasm company focused primarily on early maturing germplasm silage applications for northern climates.
The technology will enhance and expand the strong silage market presence Dow AgroSciences has established in the U.S. with a silage-specific product line. At the same time, it will also position Dow AgroSciences as a key player in European silage applications, complementing the breeding program and germplasm recently acquired from MTI.
The agreement includes all of the corn silage germplasm developed by Duo Maize.
Last year, European Union growers planted approximately 12 million hectares of corn, making it one of the largest corn planting regions in the world. Duo Maize technology will provide a new opportunity for Dow AgroSciences to build its silage and grain corn business as well as to expand usage of its HERCULEX(TM) brand portfolio of insect resistant technology for which Dow AgroSciences expects European registration soon.
Financial terms of the agreement were not disclosed.
Dow is a diversified chemical company that harnesses the power of innovation, science and technology to constantly improve what is essential to human progress. The Company offers a broad range of products and services to customers in more than 175 countries, helping them to provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. Built on a commitment to its principles of sustainability, Dow has annual sales of $49 billion and employs 43,000 people worldwide. References to "Dow" or the "Company" mean The Dow Chemical Company (NYSE:DOW) and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.
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Source: The Dow Chemical Company
CONTACT: Robyn Heine of Dow AgroSciences, +1-317-337-4807, Rheine@dow.com
Web site: www.dow.com/