Syngenta invest $77 million in corn seed facility expansion in Brazil

Syngenta to invest $77 million in corn seed facility expansion in Brazil

5:07 AM, 7th February 2013
Syngenta to invest $77 million in corn seed facility expansion in Brazil
John Atkin, Chief Operating Officer, Syngenta.

ZURICH, SWITZERLAND: Syngenta plans to invest $77 million in the expansion of its corn seed production facility in Formosa, Brazil. Annual capacity will be quadrupled to 1.6 million bags by 2015. Corn production in Brazil is expected to almost double by 2020, spurred by growth in the pork and poultry sectors. Over the same period, the value of Brazil’s corn seed market is expected to reach $2.7 billion with increased second season production and greater technology adoption.

“Brazil is already among the world’s top three corn producers and has tremendous long-term growth potential. The Formosa expansion will help us meet increasing grower demand for our leading hybrids and our new trait combinations. These will also form part of our new integrated solutions which focus on grain quality, water efficiency and land optimization,” said John Atkin, Chief Operating Officer, Syngenta.

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