Syngenta and DuPont announce ownership change at GreenLeaf Genetics

Date:11-11-2010

Syngenta and DuPont announced that Syngenta has assumed full ownership of GreenLeaf Genetics, LLC, effective November 8, 2010. The transaction dissolves a joint venture between Syngenta Seeds, Inc. and DuPont business Pioneer Hi-Bred. It enables Syngenta and Pioneer to pursue independent licensing strategies for their respective proprietary corn and soybean genetics and biotechnology traits.

Davor Pisk, Chief Operating Officer, Syngenta Seeds said: "With full control of GreenLeaf Genetics, we will be able to move more quickly in broadening access to our rapidly expanding portfolio of innovative traits and germplasm. This new ownership structure underscores Syngenta’s commitment to helping independent seed companies provide a wide range of choices to growers."

"Pioneer has valued the GreenLeaf Genetics joint venture for more than four years. GreenLeaf Genetics will continue to fulfill an important role in the seed industry by offering farmers choices in new and unique selection of corn and soybean products," said Paul E. Schickler, President – Pioneer Hi-Bred. "Pioneer looks forward to a continued relationship with both GreenLeaf Genetics and Syngenta."

GreenLeaf Genetics was originally launched by Syngenta in 2004 and became a joint venture with Pioneer in April 2006. It will now operate as a wholly owned subsidiary of Syngenta Seeds, Inc. Terms of the transaction were not disclosed.