News section
home news forum careers events suppliers solutions markets resources directories advertise contacts search site plan
 
.
Dow AgroSciences announces the acquisition of Coodetec’s Paracatu hybrid corn seed production facility, technological collaboration agreement - Agreement aims at expanding Dow AgroSciences production capacity in Brazil and improvement of Coodetec´s hybrid corn technology in the country

.

Paracatu, Brazil
October 14, 2008

Dow AgroSciences LLC and Coodetec announced today a plan to obtain improvements for both companies through the sale of Coodetec’s fixed asset in Paracatu, MG State, to Dow AgroSciences and a potential technological collaboration agreement. The addition of this asset will increase Dow AgroSciences’ production capacity in Brazil. For Coodetec, access to Dow AgroSciences technologies will allow greater quality and technological level to its hybrids offered to the market.

“Brazil is a critical component in our global corn seeds strategy to reach US$ 1 billion in sales,” said Ev Germon, president of Dow AgroSciences in Brazil. “The addition of this production asset will complement our seeds business and will provide increased reception and drying capacity in order to meet sales growth.”

Under the agreement terms, Dow AgroSciences will acquire the reception and drying facilities of hybrid corn of Coodetec´s branch in Paracatu. The current resources of Dow AgroSciences in Paracatu are located in an adjacent area to Coodetec. Effective immediately, Celso Ribeiro, Dow AgroSciences’ current manager in Paracatu, will lead both units as a consolidated operation.

“The sale of the fixed asset and the enabling of a collaboration with Dow AgroSciences for germplasm and traits is an important endeavor for Coodetec. Dow AgroSciences technology will help expand the portfolio of the offered products and strengthen the future for the businesses and customers of Coodetec,” said Irineo da Costa Rodrigues, president of Coodetec. “In addition, we are initiating the construction of new corn seeds production facilities in order to meet Coodetec´s growth for the upcoming years.”

Coodetec is a central cooperative of the technological segment with 350 associated cooperatives in Brazil. Together they have more than180 associated farmers and annual sales of US$ 14 billion. Coodetec is one of the leaders in the soybean seed market in Brazil with approximately 25 percent of market share.

Dow AgroSciences LLC, based in Indianapolis, Indiana, USA, is a top-tier agricultural company that combines the power of science and technology with the "Human Element" to constantly improve what is essential to human progress. Dow AgroSciences provides innovative technologies for crop protection, pest and vegetation management, seeds, traits, and agricultural biotechnology to serve the world's growing population. Global sales for Dow AgroSciences LLC, a wholly owned subsidiary of The Dow Chemical Company, are $3.8 billion.

 

 

 

 

The news item on this page is copyright by the organization where it originated - Fair use notice

Other news from this source


Copyright © SeedQuest - All rights reserved