Syngenta Embarks on Africa Drive as Dupont Snaps Up Seed Target
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Syngenta AG, the world’s biggest maker of crop chemicals, said it’s focused on organic growth in Africa, as the acquisition of a local seed producer in the region by DuPont Co. intensifies competition in the potential $7 billion market.
DuPont last month successfully appealed a block on the takeover of Pannar Seed of South Africa on antitrust grounds. The business would have been a real opportunity to get a foothold in the region’s largest market for seeds, Syngenta Chief Executive Officer Mike Mack said. The $450 million market is now split between DuPont’s Pioneer and Monsanto Co.