S&W Seed Company produces warm climate, high-yield alfalfa seed varieties, including varieties that can thrive in poor, saline soils. The company also offers seed cleaning and processing for other seed manufacturers. Its subsidiaries include Imperial Valley Seeds, Inc. (IVS) and Seed Genetics International Pty Ltd (SGI). Alfalfa Seed Products The company operates research projects in North America and Australia and participates in yield trials in the major alfalfa production areas that have Mediterranean to arid climates. Through its distributors, the company also exports seeds to Mexico, as well as portions of the western U.S. S&W Varieties The company’s primary S&W products are its high fall dormancy (FD) alfalfa seed varieties. Its high dormancy varieties include SW 10, SW 9720, SW 9215, SW 9628 and SW 8421S and SW 8718. In addition to FD 10, 9 and 8 varieties, the company also has developed other varieties, including FD 7, 6 and 4 varieties. IVS Varieties IVS markets both common and certified alfalfa seeds, sourced from growers located in the Imperial Valley of southeast California. SGI Varieties SGI develops proprietary varieties of alfalfa, such as SuperSonic, SuperNova, SuperStar, SuperCharge, SuperAurora, SuperSequal and SuperSiriver. SGI's alfalfa seed varieties are bred to resist disease, create persistence in the field, and produce higher yields of both the alfalfa hay forage and alfalfa seed production for its seed growers. Milling Services In addition to processing seed for its alfalfa seed business, the company also provides milling services, including cleaning, conditioning and bagging, for other growers' alfalfa seed, as well as small grains, such as barley, wheat and triticale. Business Strategy The company strives to enhance its growth potential and improve gross margins by increasing alfalfa seed business and by leveraging its expertise in plant development. Sales and Marketing The company primarily sells proprietary ‘non-dormant’ seed varieties to those parts of the world with hot, arid climates. Its primary geographical focus is the Middle East and North Africa, although the company sells to customers in a range of areas, including the western U.S., Mexico, South America, Middle East and Africa, as well as other countries with Mediterranean climates. The company’s customers are primarily its distributors, dealers, and the end user, such as a corporate or individual farmer. Its distributors and dealers, in turn, sell to farmers, consisting primarily of dairy farmers, livestock producers and merchant hay growers. Seasonality The company’s alfalfa seed business is seasonal, and historical sales of S&W have been concentrated in the first six months of fiscal year (July through December) when customers are planting their fields. The company experiences seasonality in capacity utilization at Five Points, California facility associated with the alfalfa seed harvest (typically September and October) and, to a lesser extent, the wheat harvest (typically June, July and August). Regulatory Matters The company’s agricultural operations are subject to a range of evolving environmental laws and regulations. These laws and regulations include the Clean Air Act, the Clean Water Act, the Resource Conservation and Recovery Act, the Federal Insecticide, Fungicide and Rodenticide Act and the Comprehensive Environmental Response, Compensation and Liability Act. The company is also are subject to the Federal Seed Act (the FSA), which regulates the interstate shipment of agricultural and vegetable seeds. Internationally, the company is subject to various government laws and regulations (including the U.S. Foreign Corrupt Practices Act and similar non-U.S. laws and regulations) and local government regulations. The company’s Australian operations are subject to laws that regulate the conduct of business in Australia, and more specifically, SGI's agricultural activities. Laws regulating the operation of companies in Australia, including in particular the Corporations Act 2001 (Cth) are central to SGI's corporate actions and corporate governance issues in Australia. SGI's intellectual property rights in Australia are protected and governed by laws relating to plant breeder's rights, copyright, trademarks, the protection of confidential information, trade secrets and know-how. These include the PBR Act, the Copyright Act 1968 (Cth), the Trade Marks Act 1995 (Cth) and related regulations. The company’s Australian operations are also subject to environmental laws, regulations and policies, including in particular the Environment Protection Act 1993 (SA), the Agricultural and Veterinary Products (Control of Use) Act 2002 (SA), the Genetically Modified Crops Management Act 2004 (SA), the Dangerous Substances Act 1979 (SA), the Controlled Substances Act 1984 (SA) and related regulations and policies. Competition The company’s principal competitors in its alfalfa seed business are Forage Genetics International (a subsidiary of Land O' Lakes, Inc.); Dairyland Seed Co., Inc. (owned by Dow AgroSciences LLC, a wholly owned subsidiary of The Dow Chemical Company); Seed Services, Inc.; Pioneer Seed Company (a Dupont business); and Pacific International Seed Company, Inc. SGI's principal regional competitors in the proprietary alfalfa seed market are PGG Wrightson Seeds Limited and Heritage Seeds Pty. Ltd. Blue Ribbon Seeds Pty. Ltd.; PGG Wrightson; Heritage Seeds; Naracoorte Seeds Pty. Ltd.; Seed Distributors Pty. Ltd.; and other minor companies compete with SGI through sales of Siriver, a common alfalfa variety. History S&W Seed Company was founded in 1980.
s&w seed co (SANW:NASDAQ CM)
25552 South Butte Avenue
Five Points, CA 93624
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