Indianapolis, Indiana
August 30, 2007
Dow AgroSciences, a wholly owned subsidiary of The Dow
Chemical Company, announced today that it will continue to
expand its global corn germplasm portfolio and corn business
with the acquisition by its affiliate Agrigenetics, Inc. of Duo
Maize, a corn germplasm company focused primarily on early
maturing germplasm silage applications for northern climates.
Duo Maize is based in Rossum, Netherlands.
“The technology will further enhance and expand the strong
silage market presence Dow AgroSciences has achieved in the U.S.
with our silage specific product line as well as position Dow
AgroSciences as a key player in European silage applications
along with our existing corn product offering,” said Jerome
Peribere, Dow AgroSciences president and chief executive
officer. “The Duo Maize technology will complement the breeding
program and germplasm we recently acquired from Maize
Technologies International (MTI), an Austrian based corn seed
company.”
The agreement includes all of the corn silage germplasm
developed by Duo Maize.
Last year, European Union growers planted approximately 12
million hectares of corn, making it one of the largest corn
planting regions in the world. Duo Maize technology will provide
a new opportunity for Dow AgroSciences to build its silage and
grain corn business as well as to expand usage of its Herculex*
brand portfolio of insect resistant technology for which Dow
AgroSciences expects European registration soon.
Financial terms of the agreement were not disclosed.
Dow AgroSciences LLC, based in Indianapolis, Indiana, USA, is
a top tier agricultural company providing innovative crop
protection, pest and vegetation management, seed, and
agricultural biotechnology solutions to serve the world's
growing population. Global sales for Dow AgroSciences, a wholly
owned subsidiary of The Dow Chemical Company, are $3.4 billion.
*Trademark of Dow AgroSciences LLC |
|
