Company:Syngenta Group

From HandWiki
Syngenta Group Co., Ltd.
TypePrivate
IndustryAgrobusiness, chemicals
Founded18 June 2020; 3 years ago (2020-06-18)
HeadquartersBasel, Switzerland
Area served
Worldwide
Key people
  • Jon Erik Fyrwald
  • CEO
  • Chen Lichtenstein
  • CFO
ProductsCrops

Pesticides
Seeds
Fungicides
Herbicides
Nutrients

Insecticides
RevenueIncrease US$28.2 billion (2021)[1]
Number of employees
53.000 (2022)
ParentChemChina
Websitesyngentagroup.com

The Syngenta Group is a global provider of seeds, crop protection and other agricultural products and services. The Syngenta AG was founded in 2000 by the merger of the agrichemical businesses of Novartis and AstraZeneca, and acquired by China National Chemical Corporation (ChemChina) in 2015.[2] In 2020, the Syngenta Group was formed, bringing together Syngenta AG, Adama, and the agricultural business of Sinochem under a single entity.[3] Its consists of Syngenta Crop Protection, Syngenta Seeds, Adama, and Syngenta Group China. The management headquarters is in Basel, Switzerland. The company is present in more than 100 countries.


History

In 2015, ChemChina, a state-owned chemical company, finally took over Syngenta for a purchase price of $43 billion.[4] This, the largest takeover by a Chinese company to date, caused criticism.[5][6] Following a positive evaluation by the board of directors, the majority of Syngenta shareholders accepted ChemChina's offer.[7] By July 2017, ChemChina had secured over 98% of Syngenta’s shares, allowing a squeeze-out of the remaining shareholders and withdrawal from the stock exchange.[8][9]

Under ChemChina's leadership, Syngenta played a prominent role in the reorganization and consolidation of the industry.[10][11] In November 2017, Syngenta agreed to purchase Nidera from Cofco International.[12] In March 2018, Syngenta announced plans to acquire Strider, a Brazilian agri-technology company.[13] In July, Syngenta bought Floranova, a flower and vegetable seeds breeder based in the UK.[14] In September 2019, the company acquired all the assets of The Cropio Group, another agri-technology company.[15][16]

In June 2020, ChemChina transferred its entire agricultural business to the Syngenta Group,[17] which now also includes Adama and the agricultural activities of Sinochem in addition to Syngenta.[18][19] The group is headed by Erik Fyrwald (CEO), who previously ran Syngenta.[20] Chen Lichtenstein, who previously headed Adama, is CFO of the Syngenta Group.[21]

In October 2020, the company purchased Valagro, a market-leading producer of innovative Biologicals headquartered in Atessa, Italy.[22]

Operations

The Syngenta Group acts as a holding company. The group currently employs around 53,000 people in more than 100 countries and generates annual sales of $28.2 billion.[23]

Business units

The Syngenta Group consists of Syngenta Crop Protection, Syngenta Seeds, Adama, and Syngenta Group China. The Syngenta Group also consolidates Sinofert Holdings, Winall Hi-tech Seed, and Yangnong Chemical.

Syngenta Crop Protection

Syngenta Crop Protection provides a broad range of high-quality, sustainable solutions that help farmers to counter environmental threats and ensure enough safe, nutritious, and affordable food, while minimizing the use of land and other agricultural inputs.

Syngenta Seeds

Syngenta Seeds is one of the world’s largest developers and producers of seed for farmers, commercial growers, and retailers, as well as small seed companies. The business focuses on providing more vigorous, stronger, resistant plants to combat disease, drought, and pests. This includes innovative hybrid varieties and biotech crops, for example.

Adama

Adama, formerly known as Makhteshim-Agan, is a public listed crop protection company. It focuses on off-patent products and offers one of the world’s largest, most diverse portfolios of more than 120 active ingredients used in a vast array of crop protection products.

Syngenta Group China

Syngenta Group China bundles the activities of all Syngenta businesses in the People’s Republic. It provides farmers across China with products, digital services, and expertise, enabling them to grow healthy, affordable, and sustainable food. The Modern Agricultural Platform (MAP) guides and supplies farmers through the process of modernizing their farms, reducing greenhouse gases and connecting them to premium buyers for higher quality crops and increased profitability . Syngenta Group China has become an important driver in transformation of Chinese agriculture.

Locations

Under corporate law, the Syngenta Group is a Chinese limited liability company (Co., Ltd.) with its management headquarters in Basel, Switzerland.[24] The business units Syngenta Crop Protection and Syngenta Seeds are bundled in Syngenta AG, a public limited company headquartered in Basel, too.[25] Other important locations of the Syngenta Group include Chicago (United States), Tel Aviv (Israel), and Shanghai (China). The company has research and development departments across the world.[26]

Financial statements

(billion) HY 2020 FY 2020 HY 2021 FY 2021
Group sales $12.0 $23.1 $14.4 $28.2
EBITDA $2.2 $4.0 $2.7 $4.6

Products and services

The Syngenta Group is one of the world’s largest suppliers of crop protection products (including herbicides, fungicides, and insecticides), seeds (including rice and corn), and related products. Syngenta also produces biofuels, such as biodiesel.

The company is thus following the political strategy of many countries to reduce their dependence on oil imports from other countries.[27] In 2011, it announced the corn trait Enogen to substantially reduce the consumption of water and energy versus conventional corn.[28] Several ethanol producers plan to process such improved corn. For example, Syngenta has signed a commercial agreement with Three Rivers Energy of Coshocton County, Ohio, U.S. to use grain featuring Enogen trait technology following the 2014 corn harvest.[29]

The Syngenta Group also provides digital services to farmers. One example is the "AgriClime" platform, which calculates weather guarantees for farmers to assess and hedge harvest risks.[30] Syngenta Group products and services are designed to help make crops more efficient, preserve biodiversity, and combat the effects of climate change.[31]

Other activities

Syngenta Foundation

In 2001, the Syngenta AG established the Syngenta Foundation for Sustainable Agriculture. Its purpose is to promote sustainable agriculture. The Syngenta Foundation originated from the former Novartis Foundation.[32] The objectives and goals of the Syngenta Foundation are "to work with rural communities in the semi-arid regions of the world and improve their livelihoods."[33] The Syngenta Foundation addressed the World Food Day Symposium in 2005 as an output of the Millennium Ecosystem Report.[34]

Syngenta Group has explicitly committed itself to the United Nations’ sustainability goals with the "Good Growth Plan", which was last renewed in 2020.[35][36] The Group has a strong commitment to research and innovation, which has been reinforced in light of the impact of the global COVID-19 pandemic.[37][38]

St. Gallen Symposium

In 2021, Syngenta Group became a main partner of St. Gallen Symposium in Switzerland, a student-led initiative to foster intergenerational and cross-cultural global dialogue. As a result of this, the company promoted science-based regenerative agriculture to curb climate change.[39]

References

  1. ↑ "Syngenta Group reports 2021 performance, growing 23%, with $28.2 billion sales" (in EN). 2022-03-31. https://www.syngentagroup.com/sites/syngenta-group/files/media/syngenta-news/220331-syngenta-group-fyr-2021-en.pdf. 
  2. ↑ New Syngenta Group Unites Syngenta AG, ADAMA and Sinochem, 2020-06-22, https://www.croplife.com/crop-inputs/new-syngenta-group-unites-syngenta-ag-adama-and-sinochem/, retrieved 2020-10-30 
  3. ↑ "Syngenta: China formt den größten Agrochemie-Konzern der Welt" (in de). https://www.handelsblatt.com/unternehmen/industrie/syngenta-china-formt-den-groessten-agrochemie-konzern-der-welt/25391650.html. 
  4. ↑ "Chemchina in Talks To Buy Syngenta". China Daily. 2015-11-14. 
  5. ↑ "Riesenübernahme: China bietet 43 Milliarden Dollar für Syngenta" (in de). FAZ.NET. ISSN 0174-4909. https://www.faz.net/aktuell/wirtschaft/unternehmen/chemiekonzern-chemchina-will-schweizer-syngenta-uebernehmen-14049299.html. 
  6. ↑ "Die Chinesen kommen" (in de). Neue Zürcher Zeitung. 2016-02-03. 
  7. ↑ Aiolfi, Sergio (2016-02-03). "Verwaltungsrat leistet keinen Widerstand". https://www.nzz.ch/wirtschaft/unternehmen/syngenta-soll-fuer-43-milliarden-nach-china-1.18688698. 
  8. ↑ "ChemChina's Crosses 98% Syngenta Threshold | CHEManager". https://www.chemanager-online.com/en/news-opinions/headlines/chemchinas-crosses-98-syngenta-threshold. 
  9. ↑ "ChemChina hält 98% an Syngenta - "Squeeze-out" eingeleitet" (in DE). 2017-07-13. https://www.cash.ch/news/boersenticker-firmen/chemchina-haelt-98-syngenta-squeeze-out-eingeleitet-1084814. 
  10. ↑ "ChemChina übernimmt Syngenta: BASF in Bedrängnis" (in de). https://www.manager-magazin.de/unternehmen/industrie/syngenta-chemchina-bietet-fuer-uebernahme-43-milliarden-in-bar-a-1075367.html. 
  11. ↑ Siegfried Hofmann, Bert Fröndhoff. "Syngenta attackiert Bayer in Agrochemie: Der China-Faktor" (in de). https://www.handelsblatt.com/unternehmen/industrie/syngenta-attackiert-bayer-in-agrochemie-der-china-faktor/20045488.html. 
  12. ↑ "China's Cofco International sells Nidera seeds business to Syngenta". Reuters. 2017-11-06. https://www.reuters.com/article/china-cofco-syngenta-idUSL3N1NC2U2. 
  13. ↑ Seaman, Jessica (29 March 2018). "Syngenta acquires Brazilian agtech company". https://www.bizjournals.com/triad/news/2018/03/29/syngenta-acquires-brazilian-agtech-company.html. 
  14. ↑ Ayers, Rebecca (27 July 2018). "Syngenta acquires U.K.-based seeds breeder Floranova". https://www.bizjournals.com/triad/news/2018/07/27/syngenta-acquires-u-k-based-seeds-breeder.html. 
  15. ↑ Whittington, Lloyd (2 September 2019). "Syngenta acquires agri-business software company". https://www.bizjournals.com/triad/news/2019/09/02/syngenta-acquires-agri-business-software-company.html. 
  16. ↑ "Syngenta Buys Agricultural Technology Firm Cropio". 2019-09-02. https://www.agriculture.com/syngenta-buys-agricultural-technology-firm-cropio. 
  17. ↑ "«Syngenta Group» – Die Eigner aus China machen Syngenta chic für die Börse" (in de). https://www.handelszeitung.ch/unternehmen/syngenta-group-die-eigner-aus-china-machen-syngenta-chic-fur-die-borse. 
  18. ↑ "Syngenta wird in Holding integriert" (in de). Basler Zeitung. 2020-01-06. 
  19. ↑ Wirtschaft, Finanz und. "Syngenta bündelt Agrargeschäfte" (in de). https://www.fuw.ch/article/syngenta-uebernimmt-agrargeschaeft-von-chemchina-und-sinochem/. 
  20. ↑ Feldges, Dominik (2020-01-07). "Syngenta nimmt noch stärker chinesische Züge an." (in de). Neue Zürcher Zeitung. 
  21. ↑ "Syngenta Group: Chen Lichtenstein zum CFO ernannt" (in de). https://www.gabot.de/ansicht/syngenta-group-chen-lichtenstein-zum-cfo-ernannt-401527.html. 
  22. ↑ "Syngenta Group Acquires Leading Biologicals Company, Valagro". https://www.biospace.com/article/syngenta-group-acquires-leading-biologicals-company-valagro/. 
  23. ↑ Seraina Gross. "Syngenta: «Unsere Präsenz in der Schweiz wird noch stärker»" (in de). https://www.handelszeitung.ch/unternehmen/syngenta-unsere-prasenz-der-schweiz-wird-noch-starker. 
  24. ↑ "Syngenta-Hauptsitz sollin Basel bleiben" (in de). Tagesanzeiger. 2020-01-30. 
  25. ↑ "Unternehmensportrait Syngenta AG" (in de). AWP Finanznachrichten. 2020-05-30. 
  26. ↑ "Syngenta Group: Gründung eines globalen AgTech-Marktführers" (in de). https://www.gabot.de/ansicht/syngenta-group-gruendung-eines-globalen-agtech-marktfuehrers-404396.html. 
  27. ↑ "Politik beschert Syngenta Rückenwind" (in de). Handelsblatt. 2006-02-10. 
  28. ↑ Andrew Pollack (2011-02-11). "U.S. Approves Corn Modified for Ethanol". NYTimes. https://www.nytimes.com/2011/02/12/business/12corn.html?_r=0. 
  29. ↑ Syngenta and Three Rivers Energy signed Enogen® trait technology agreement. AgroPages, 26 Nov. 2013. Retrieved 2014-5-8
  30. ↑ Sanjiv Rana (2020-08-24). "Syngenta, sharing weather-related risks with farmers". http://chemweek.com/CW/Document/113576/Syngenta-sharing-weather-related-risks-with-farmers. 
  31. ↑ "Erik Fyrwald: Changing the Image of the Agrochemicals Industry". 2019-07-28. https://www.ft.com/content/2c6216a2-adf7-11e9-8030-530adfa879c2. 
  32. ↑ "Zwischen Hilfe und Geschäft" (in de). Basler Zeitung. 2001-08-09. 
  33. ↑ "What we do" (in en). 2016-12-09. https://www.syngentafoundation.org/what-we-do. 
  34. ↑ "The World Food prize" (in EN). The World Food Prize Foundation. https://www.legis.iowa.gov/docs/publications/SD/5810.pdf. 
  35. ↑ B. K. Jha (2020-07-02). "Combating climate change, Syngenta launches new Good Growth Plan". https://agriculturepost.com/combating-climate-change-syngenta-launches-new-good-growth-plan/. 
  36. ↑ Schuller, Jil. "Syngenta erweitert seinen Good Growth Plan um Ziele für den Klimaschutz" (in de). https://www.bauernzeitung.ch/artikel/syngenta-erweitert-seinen-good-growth-plan-um-ziele-fuer-den-klimaschutz. 
  37. ↑ "A different look at COVID-19". 2020-03-24. https://www.syngentafoundation.org/articles/recent-news/different-look-covid-19. 
  38. ↑ Post, Agriculture (2020-09-02). "Syngenta helps farmers sell agri produce amid COVID-19 pandemic". https://agriculturepost.com/syngenta-helps-farmers-sell-agri-produce-amid-covid-19-pandemic/. 
  39. ↑ "Syngenta Group Becomes Main Partner of St. Gallen Symposium in Switzerland.". 2021-02-17. http://www.seedtoday.com/article/225112/syngenta-group-becomes-main-partner-of-st-gallen-symposium-in-switzerland. 

External links

This page will be placed in the following categories if it is moved to the Article namespace.
Categories:


    Retrieved from "https://handwiki.org/wiki/index.php?title=Company:Syngenta_Group&oldid=933260"