Ghent, Belgium
January 11, 2008
Following the acquisition in
October, 2007 of certain assets* of Monsanto in India,
Devgen strengthens its
management team by the appointment of Mr. Bipin Solanki as CEO
of Devgen Seeds and Crop Technology in India.
Mr. Solanki brings along 25 years of experience in the seed and
biotech trait industry in India.
He was employed with Aventis for 14 years managing the seed and
crop protection chemical business. He held senior management
positions with business responsibilities at Monsanto Company for
11 years.
As Deputy Managing Director of Monsanto - Mahyco Biotech (MMB)
from 2002 to 2007, some of his key achievements were to manage
new generation insecticide and herbicide business and the
introduction of BT-cotton in India at the regulatory and the
business level.
Furthermore, Mr. Solanki served as a member of the 'Governing
Council of the National Seed Association.'
Mr. Solanki said: "Building improved seeds by combining
biotechnology and molecular breeding techniques is an exciting
business to which Devgen is strongly committed."
Thierry Bogaert, CEO of Devgen NV commented: "Mr. Solanki's
experience and leadership substantially strengthens Devgen
ability to deliver on its goal to grow our business in India and
become a premier provider of seeds and seed technology in its
core crops."
Devgen Seeds and Crop technology Pvt Ltd was incorporated in
2007 as the first step in the implementation of Devgen's
strategy to become an important, R&D-driven supplier of seeds
and traits in India and South-East Asia for rice, sorghum,
sunflower and pearl millet. This incorporation was followed by
the acquisition of certain assets of Monsanto subsidiaries in
India in October, 2007. Today Devgen Seeds and Crop Technology
Pvt Ltd entails multiple breeding stations, a manufacturing
facility and a marketing department. Devgen India employs over
70 people, including a dedicated commercial team for the sales
of its products.
Devgen is a top 10 public agro biotech company with
agricultural business units focused on developing and
commercializing:
• a novel generation of biotech products to protect a wide
spectrum of crops from damage incurred from pests;
• biotech traits and germplasm to meet the growing needs for
high yielding, high quality hybrid rice and selected small
grains in India and S.E. Asia;
• safer and more environmentally friendly agro-chemical products
to protect crops from damage inflicted by plant parasitic
nematodes.
Devgen and Monsanto have an agreement in place for Devgen's
research and is coupled with an agreement which broadens the
relationship so that both companies can explore technology
applications in their crop areas of interest.
Devgen's biopharmaceutical division develops a new class of
preclinical drug candidates, based on novel therapeutic
concepts, for treatment of a range of inflammatory and metabolic
disease (diabetes, obesity) and arrhythmia.
Devgen has entered into partnerships with industry leaders in
biotechnology and agro chemistry. Incorporated in 1997, Devgen
has offices in Ghent (Belgium), Singapore and Hyderabad (India),
with a total work force of about 160 people, including Devgen
seeds and crop technologies, India. Devgen is listed on Eurolist
by Euronext Brussels (ticker: DEVG) since June 2005.
* On October 31, Devgen acquired the rice, sorghum, sunflower
and pearl millet seed assets from Monsanto subsidiaries in
India. |
|
