Syngenta to pay $105 million to settle atrazine lawsuit

5:00 AM, 28th May 2012

Syngenta to pay $105 million to settle atrazine lawsuit

BASEL, SWITZERLAND: Syngenta AG agreed to pay $105 million to settle litigation involving US water utilities over the herbicide atrazine. Syngenta filed the agreement with a district court in Illinois. The charge is partly covered by provisions, and the effect on 2012 earnings will be about 50 US cents a share. Syngenta expressly denied liability and the plaintiffs acknowledged that they are not aware of any new scientific studies relating to atrazine. Syngenta said it will continue to sell atrazine in the US for corn growers to control weeds. The chemical was banned in the European Union in 2003 after the weedkiller was linked in studies to birth defects in frogs.

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