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Momont becomes a full member of the KWS Group
Sep. 3, 2014
KWS SAAT SE & Co. KGaA
GermanyFollow
Germany
The seed companies Momont in France and KWS in Germany have signed an agreement to transfer shares from the Momont family to KWS. This agreement was concluded in the context of the close and beneficial cooperation that has connected both enterprises since 1999, when KWS acquired 49% of the capital of Momont.
With this new agreement, Momont becomes a full member of the KWS Group once all official approvals have been granted. The new entity, to be named KWS Momont, will intensify its activities in the fields of research, production and commercialization of cereal seeds and rapeseed whilst pursuing its current activities in peas, corn and fodder beet. The general management will be assured by Thierry Momont. Philippe Momont will coordinate all research activities with specific responsibility for the wheat program. In the administrative and financial scope, Eric Momont will accompany the new entity during the transition phase.
This is a substantial step in KWS’ declared aim to develop its Cereals Division particularly by reinforcing the wheat breeding activities in France.
"The target of this agreement is to reinforce the synergies between the different breeding programs of the group and to gain profit from the expertise and markets know-how of Momont, thereby enhancing the product offering to French farmers, particularly in wheat", underlines Thierry Momont. Philip von dem Bussche, CEO of KWS group, adds: "The 15 years of partnership based on a strong mutual confidence are a solid foundation for KWS to start from with which we can ensure our development in the French cereals market. We are confident and glad to rely on the structures and staff who have already proven themselves in order to progress in this market and particularly in the wheat sector."
The company Momont was founded in 1860. It was sugarbeet with which the company started its activities. Their diversification then led into cereals. It allowed Momont to reach the level of the best French research specialists for wheat, barley and oats. The entry of rapeseed in the research programmes was another success that enabled Momont to become one of the major actors in France. Over the past ten years, the development of export activities was significant, with sales increasing seven-fold and representing more than 25 % of the turnover. Momont is just as active in corn, high-proteine peas and fodder beet. Momont employs a staff of 110 and generates a turnover of more than 21 mill. €, investing more than 20% of its turnover in research.
Source: KWS
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