Syngenta Completes Nidera Seeds Acquisition
Syngenta has completed the acquisition of Nidera Seeds from COFCO International, a company with a “fully integrated value chain” that’s dedicated to connecting supply with demand.
The announcement was first made in November, less than a year after COFCO tookover Nidera as part of a major expansion of its global grains trading business.
Johnny Chi, COFCO International CEO, says: “This transaction allows us to further strengthen our focus on grains, oilseeds and sugar. Nidera Seeds has significant growth potential and we believe Syngenta will continue to develop the business with a beneficial outcome for all stakeholders.”
It was reported that Nidera racked up losses and had accounting troubles in its Latin American operations.
Nidera Seeds, which focuses on corn, sunflowers, sorghum, soybeans and wheat, is concentrated in Argentina and Brazil and has a network in neighboring countries.
With a pool of proprietary germplasm and a relevant presence in Brazil, Argentina, Uruguay and Paraguay, Syngenta leaders say the acquisition will enhance its ability to compete in seeds and bring more value to its customers.
“Having Nidera Seeds under the leadership of Andre Dias become part of our business is very exciting,” says Erik Fyrwald, Syngenta CEO. “Nidera Seeds has great germplasm, a strong R&D pipeline and broad footprint across the region.
“We welcome the passionate and capable Nidera Seeds team into the business and look forward to achieving great things as one team.”[rate_this_page]