Syngenta plans new facility in Russia
BASEL, Switzerland, Sept. 21, 2012 /PRNewswire/ -- Syngenta (SYT), in conjunction with the Governor of Krasnodarskiy Krai, Russia, has signed a Letter of Intent to invest up to $85 million in the construction of a hybrid seed and crop protection production facility.
John Atkin, Chief Operating Officer, said: "Technology will play a key role in realizing Russia's ambition to intensify its agriculture sustainably. This also represents a significant economic opportunity for Russian farmers. It is therefore vital that they have access to high quality crop protection products and hybrid seeds. Our intended investment will enable local production of these key inputs."
Subject to obtaining the necessary local permits and approvals, Syngenta expects to commence production of hybrid seed in 2015 and of crop protection products in 2016.
"This announcement underlines our long-term commitment to Russian agriculture. We are pleased to be working closely with the authorities in Krasnodarskiy Krai, which is a region at the forefront of the sustainable development of agriculture in Russia," Mr. Atkin concluded.
Syngenta is one of the world's leading companies with more than 26,000 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
Tel: +41 61 323 2323
Fax: +41 61 323 2424
Switzerland +41 61 323 2323
Switzerland +41 61 323 5059
USA +1 202 737 6521