“2015 witnessed much speculation about industry consolidation, and a merger was announced towards the end of the year between two of our US-based competitors. This was partly driven by challenging market conditions and diminishing returns on R&D, while investors expect greater and faster returns from the industry as a whole,” Demaré says in the report. “As the structure of the industry started to show irrevocable signs of profound changes, it was important for the Company to remain agile and assume no status-quo.”
He goes on to say that the takeover, first announced on Feb. 3, is in the best interests of shareholders and all other stakeholders in Syngenta, “including our employees, our customers and our communities.”
“It is a transaction for growth and long- term investment, and one which recognizes the tremendous value of our company – our innovation, our broad and deep market presence and the excellence of our people. Moreover, the governance structure agreed in the transaction reflects the high standards that have guided the ompany since its inception in 2000 – Syngenta remains Syngenta, and will continue its ambitious standalone strategy supported by an ambitious owner. Even better, growers around the world will continue to have a choice.”
Syngenta’s full annual report can be read at http://annualreport.syngenta.com.
