60 GERMINATION.CA JULY 2018 TheHeadlinesBusiness | People | Policy | Product | Research Submissions welcome: news@issuesink.com BUSINESS BAYER CLOSES MONSANTO ACQUISITION Bayer has successfully completed the acquisition of Monsanto. Shares in the U.S. company will no longer be traded on the New York Stock Exchange, with Bayer now the sole owner of Monsanto Company. Monsanto share- holders are being paid US$128 per share. J.P. Morgan assisted Bayer with processing the purchase price pay- ment for the largest acquisition in the company’s history. According to the conditional approval from the United States Department of Justice, the integration of Monsanto into Bayer can take place as soon as the divestments to BASF have been completed. “Today is a great day: for our customers — farmers around the world whom we will be able to help secure and improve their harvests even better; for our shareholders, because this transac- tion has the potential to create significant value; and for consumers and broader society, because we will be even better placed to help the world’s farmers grow more healthy and affordable food in a sustainable manner. As a leading innovation engine in agriculture, we offer employees around the world attractive jobs and develop- ment opportunities,” said Werner Baumann, chairman of the Bayer board of management. BAYER ANNOUNCES EXECUTIVE LEADERSHIP TEAM FOR NEW CROP SCIENCE DIVISION Bayer announced the selection of the new Executive Leadership Team for the Crop Science division, which went into effect as of the closing of Bayer’s acquisition of Monsanto. The new Executive Leadership Team will be led by Liam Condon, who continues to serve as a member of Bayer’s board of management and as president of the Crop Science Division headquartered in Monheim, Germany. He is also responsible for Bayer’s Animal Health business unit. DOWDUPONT AG COMPANY TO LAUNCH JUNE 1 OF NEXT YEAR DowDuPont reports in its first-quarter results that its spinoff ag company will launch June 1, 2019. “We deliv- ered solid first-quarter sales and operating earnings gains, while our teams advanced the intended business separations,” said Ed Breen, chief executive officer of DowDuPont, in May. “The Materials Science and Specialty Products divisions delivered better-than-expected top- and bottom-line growth with higher prices and volume gains, including value adding product innovations. Their growth more than offset weather-related delays that are expected to shift a substantial portion of our Agriculture earnings to the second quarter. All three divisions hit their cost synergy targets, producing savings of over $300 million as we build momentum on our $3.3 billion in cost synergies and put more focus on the $1 billion in growth synergies. And we continue to expect Materials Science to spin by the end of the first quarter of 2019, with Agriculture and Specialty Products separating by June 1, 2019. These will be three world-class companies equipped to further their leadership positions in attractive growth markets.” WESTERN CANADA’S LARGEST FAMILY-OWNED PEDIGREED SEED PROCESSING PLANT BREAKS GROUND Manitoba’s Pitura Seeds broke ground on the largest family-owned pedigreed seed processing operation in Western Canada. The state-of-the-art cleaning facility will process 800 to 1,000 bushels per hour, with the potential to double capacity in the future, and will focus on cereals and soybeans. The new concrete structure will be located north of the current business, located approximately three miles west of the town of Domain, Man. Pitura Seeds was established in the 1950s by Carl and Clara Pitura. Their son Calvin and daughter-in-law Barbara Strath-Pitura came into the business in 1978, seeing opportunity for produc- ing high-quality pedigreed seed. The multi-generational business now includes son Connor Pitura (who manages the seed farm) and son-in-law Tom Greaves, in addition to 10 other full-time staff. The seed processing plant is expected to be fully operational by Oct. 1 of this year. PEOPLE DENISE SCHMIDT JOINS CIBUS AS DIRECTOR OF SALES Cibus welcomes Denise Schmidt as the company’s direc- tor of sales. Denise will be responsible for the Cibus seed