Syngenta to expand corn seed production capacity in Formosa, Brazil
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For best results when printing this announcement, please click on the link below: http://pdf.reuters.com/pdfnews/pdfnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130206:nPnPH55304 BASEL, Switzerland, Feb. 6, 2013 /PRNewswire/ -- * Annual capacity to be quadrupled * Driven by grower demand for leading corn hybrids * Enabling expansion of integrated corn solutions Syngenta today announced plans to invest $77 million in the expansion of its corn seed production facility in Formosa, Brazil. Annual capacity will be quadrupled to 1.6 million bags by 2015. Corn production in Brazil is expected to almost double by 2020, spurred by growth in the pork and poultry sectors. Over the same period, the value of Brazil's corn seed market is expected to reach $2.7 billion with increased second season production and greater technology adoption. Syngenta's Chief Operating Officer, John Atkin, said: "Brazil is already among the world's top three corn producers and has tremendous long-term growth potential. The Formosa expansion will help us meet increasing grower demand for our leading hybrids and our new trait combinations. These will also form part of our new integrated solutions which focus on grain quality, water efficiency and land optimization." Syngenta's Formosa facility is located at the heart of 110,000 hectares of prime corn growing country. The area's climate supports two growing seasons and Syngenta's leading hybrid seed portfolio is well suited to the area. Formosa's location close to Brasilia means logistics infrastructure is also good, providing better export market access for growers. Syngenta is one of the world's leading companies with more than 27,000 employees in over 90 countries dedicated to our purpose: Bringing plant potential to life. Through world-class science, global reach and commitment to our customers we help to increase crop productivity, protect the environment and improve health and quality of life. For more information about us please go to www.syngenta.com Cautionary Statement Regarding Forward-Looking Statements This document contains forward-looking statements, which can be identified by terminology such as 'expect', 'would', 'will', 'potential', 'plans', 'prospects', 'estimated', 'aiming', 'on track' and similar expressions. Such statements may be subject to risks and uncertainties that could cause the actual results to differ materially from these statements. We refer you to Syngenta's publicly available filings with the U.S. Securities and Exchange Commission for information about these and other risks and uncertainties. Syngenta assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors. This document does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer, to purchase or subscribe for any ordinary shares in Syngenta AG, or Syngenta ADSs, nor shall it form the basis of, or be relied on in connection with, any contract therefor. Syngenta International AG Media contacts: Analyst/Investor contacts: Media Office Paul Barrett Jennifer Gough CH-4002 Basel Switzerland +41 61 323 2323 Switzerland +41 61 323 5059 Switzerland USA +1 202 737 6521 Tel: +41 61 323 2323 Fax: +41 61 323 2424 Daniel Braxton Lars Oestergaard Switzerland +41 61 323 2323 Switzerland +41 61 323 6793 www.syngenta.com USA +1 202 737 6520 SOURCE Syngenta