AT CLOSING NEWS
DuPont and Syngenta announce the formation of a 50-50 joint venture and licensing agreements that will provide broad access to the companies' proprietary corn and soybean genetic lines and biotechnology traits.
The two companies also agree to cross-license certain corn and soybean traits that each company will market independently under their own seed brands. The agreement includes rights for Syngenta to market the new Optimum™ GAT™ herbicide tolerant trait developed by DuPont.
The joint venture, named GreenLeaf Genetics will be based in Omaha, NE, and led by Ron Wulfkuhle, the current head of Syngenta's GreenLeaf Genetics business.
Nitragin, Inc., Milwaukee, WI, announces the acquisition of Cambridge, Ontario-based Agribiotics Inc. through its Canadian affiliate Nitragin Holding Inc.
Agribiotics has an impressive portfolio of yield-enhancing technologies that align closely with Nitragin's offerings. This acquisition allows Nitragin to extend the use of plant health products such as LCO Promoter Technology to non-legume crops such as corn, cotton and wheat.
"Nitragin currently offers LCO Promoter Technology and other crop-enhancing products that soybean, peanut, alfalfa and pulse growers have found extremely effective," says Nitragin President Tom Winkofske. "The acquisition of Agribiotics allows Nitragin to make this exceedingly successful technology available to corn, wheat, cotton and other growers."
BASF announces the formation of BASF Plant Science, a unit dedicated to developing the next-generation plant biotechnology products. It supports the company's business focus of enhancing crops that offer benefits for farmers, human and animal nutrition, and the environment. The company plans to invest $320 million in the unit over the next three years.
"BASF has identified plant biotechnology as the largest of five key future-growth clusters," says Dr. Hans Kast, president and CEO of BASF Plant Science.
BASF Plant Science specializes in three areas: 1) genetically enhanced crops that can better survive pests and disease, and perform under adverse environmental conditions such as drought and, as a result, improve harvest yields worldwide; 2) plants that contribute to healthier human and animal nutrition through optimized composition of beneficial ingredients such as oil or protein; and, 3) plants that act as efficient "green factories" to produce valuable complex molecules, thereby reducing the cost and environmental impact of select traditional chemical processes.
Arysta LifeScience North America Corporation, Cary, NC, and BASF Corporation announced that they have completed the transaction in which Arysta has acquired major assets of Micro Flo Company LLC, Memphis, TN, from BASF.
The acquisition will significantly broaden the scope of Arysta LifeScience's North American sales operations and create a strategic position in the U.S. crop protection segment. Micro Flo is active in the production of off patent crop protection chemicals. It also offers a variety of manufacturing and distribution services.
Gehl Company, West Bend, WI, announces plans to discontinue the manufacturing and distribution of its agricultural implement product lines. The Company's West Bend, WI, agricultural implement manufacturing operations will permanently close following the wind down of operations.
William D. Gehl, Gehl Com-pany chairman and CEO, says, "The decision to discontinue the agricultural implement product lines is a response to the ongoing reduction of the Company's traditional dairy farmer customer base and the resultant decline in the Company's sales and earnings of its implement product lines. Although we are eliminating our agricultural implement product lines, we remain fully committed to our agricultural equipment dealers and customers through our continuing supply of compact equipment and ongoing parts and service support for the ag implement product lines."
MachineryLink, Inc., Kansas City, MO, the leading agricultural equipment leasing and asset management company, announces that Scott D. Hazlett has joined the company as CEO.
Hazlett most recently served as a Group President of TriMas Corpo-ration's Transportation Accessories unit, a $560 million global manufacturer, marketer and distributor of a wide range of metal fabricated, plastic and electrical products for the broad-based consumer and commercial towing, trailering and cargo management markets.
Hazlett's industrial leadership profile also includes president and COO of an Internet-based, global supply-chain and strategic sourcing start-up, and division leadership roles with Case Corporation, CNH Global, and James River Corporation.
American Vanguard Corporation, Newport Beach, CA, announces that its subsidiary, AMVAC Chemical Corporation, entered into an exclusive multi-year agreement with Bayer CropScience LP to market, sell and distribute Bayleton fungicide, in the United States.
Under the terms of the agreement, Bayer CropScience will supply the formulated product to AMVAC. AMVAC will begin marketing the product immediately.