Syngenta acquires Argentine seed company
Syngenta has acquired Argentine seed company SPS, which is mainly involved in the development, production and marketing of soybean, maize and sunflower seeds. Syngenta expects the transaction to give it “a significantly increased presence in the important soybean market in Argentina”, complementing its maize and sunflower businesses. “This investment expands our customer base in Argentina and accelerates the introduction of our proprietary GM traits in soybeans and corn,” says Syngenta Seeds’ chief operating officer, Davor Pisk. SPS has around 50 employees and recorded sales of $15 million in the year to March 2008. Soybeans are the most widely cultivated crop in Argentina, accounting for more than half of the country’s cultivated area. Argentina’s area under soybeans is expected to rise by 8.4% this year to 18 million ha ( Agrow No 555, p 20).