Syngenta to expand corn seed production capacity in Formosa, Brazil
BASEL, Switzerland, Feb. 6, 2013
BASEL, Switzerland, Feb. 6, 2013 /PRNewswire/ --
oAnnual capacity to be quadrupled
oDriven by grower demand for leading corn hybrids
oEnabling 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
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