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Business/Finance See other Business/Finance Articles Title: Swiss agribusiness giant Syngenta unveils ambitious plan after ChemChina takeover Ren Jianxin (C), chairman of ChemChina and chairman of the board of directors of Syngenta, Chen Hongbo (1st L), Chief Strategy Officer of ChemChina, Robert Lu (2nd L), vice-president of ChemChin, Michel Demare (2nd R), vice-chairman and lead independent director of Syngenta, and Erik Fyrwald, CEO of Syngenta, shake hands after a press conference at the Syngenta headquarters in Basel, Switzerland, June 27, 2017. World's agribusiness giant Syngenta and its new owner ChemChina unveiled new ambitions Tuesday, eyeing a place of top three in global seeds business by further expansion in emerging markets, especially China. (Xinhua/Xu Jinquan) BASEL, Switzerland, June 27 (Xinhua) -- World's agribusiness giant Syngenta and its new owner ChemChina unveiled new ambitions Tuesday, eyeing a place of top three in global seeds business by further expansion in emerging markets, especially China. The company said it intends to profitably grow market share through organic growth and collaborations, and is considering targeted acquisitions with a focus on seeds. The goal is to strengthen Syngenta's leadership position in crop protection and to become an ambitious number three in seeds. For that end, further expansion in emerging markets, notably China, will be the key in the future. In 2016, the Asia-Pacific region only stood about 15 percent of Syngenta's annual sales, reaching 1.84 billion U.S. dollars, while the rest regions, North America, Latin America, as well as Europe, Africa and the Middle East, all contributed more than 3.2 billion U.S. dollars. In addition to market growth, increasing efforts in digital agriculture and ongoing investment in new technologies to increase crop yields, as well as reducing CO2 emissions and preserving water resources, will also play a major role in securing the company's leadership. Before the announcement, a general meeting of Syngenta shareholders elected Ren Jianxin, chairman of ChemChina, as chairman of the board of directors on Monday. But Syngenta's operational independence in the future under the governance of the existing management team has been reaffirmed. At Tuesday's press meeting, Ren said together with Syngenta's board and management and all its employees, "we will work for the benefit of growers and to enhance food security, and fight famine around the world, based on principles of technological leadership, environmental safety and sustainability." Vice Chairman and Lead Independent Director of Syngenta Michel Demare also reassured that growth is the focus behind the whole acquisition. "All our stakeholders are benefiting from this change of ownership," Demare said, referring that Syngenta will maintain the highest corporate governance standards as a standalone company, while sharing with ChemChina a common long-term vision of contributing to global food security. Earlier in June, Chinese state-owned chemical giant ChemChina announced the completion of a deal of 43 billion U.S. dollars to acquire Syngenta. ChemChina has purchased 94.7 percent of Syngenta's shares so far and will push forward the delisting of Syngenta from both Switzerland and the United States. In the future, ChemChina will implement a strategy to make Syngenta go public again with a view to realize long-term development and create greater value, the company said. YOU MAY LIKE ChemChina completes acquisition of Syngenta Syngenta's shareholders accept ChemChina merger offer 1st LD Writethru: EU approves ChemChina's takeover of Syngenta with condition Urgent: EU approves ChemChina's merger of Syngenta: official Post Comment Private Reply Ignore Thread Top • Page Up • Full Thread • Page Down • Bottom/Latest
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Syngenta had rejected a $46-billion from Monsanto; perhaps to avoid a bunch of legal liabilities.
Can you hit a few highlights on that for those of us who don't have a clue about what you are talking about? Thanks. I know virtually nothing about international business,but even I know that getting into bed with China does NOT lead to a happy ending. They will end up with their records and research raided,as well as a few of their top people,and then wake up one day to discover they are competing against an organization that has a national treasury backing it up,and your only choices will be to shut your doors and walk away after selling out to their first lowball offer,let them buy you out a pennies above what you would receive out of a bankruptcy immediately before the bankruptcy,or actually declaring bankruptcy and losing it all. ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ In the entire history of the world,the only nations that had to build walls to keep their own citizens from leaving were those with leftist governments.
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