Dow AgroSciences Concludes Coodetec Acquisition
31 January 2015 - 2:00AM
Business Wire
Transaction Broadens Company’s Corn and Soybean
Genetics and Capabilities in the Americas
Dow AgroSciences, a wholly owned subsidiary of The Dow Chemical
Company (NYSE: DOW), has completed the acquisition of Coodetec’s
seed business. This acquisition marks the second largest by Dow
AgroSciences and is in line with Dow’s plans to expand
participation in attractive, high-value growth markets, a key
component of the Company’s strategy. The acquisition also expands
the Company’s corn and soybean genetics, and strengthens the
Company’s breeding and production capabilities in the Americas.
Dow AgroSciences continues to be one of the largest and fastest
growing soybean seed companies in the world. The acquisition
further enables growth for Dow AgroSciences in Brazil with
strategic corn and soybean traits technology, including
POWERCORE™ and new technologies under development such
as Conkesta™, and the Enlist™ Weed Control System.
“With this transaction, Dow AgroSciences accelerates its entry
into the soybean market in Brazil, a strategic focus of the
Company's growth. The objective is to increase market share in
soybean seeds in the short term. Furthermore, it strengthens the
Company's position in the corn market and marks the entry into
wheat seeds in the country,” said Rolando Meninato, Vice President,
Seeds Business, Dow AgroSciences.
The conclusion of the Coodetec acquisition also represents a
significant addition to Dow AgroSciences’ soybean capabilities
across the Americas, enhancing the Company’s genetics portfolio,
operations breeding, and ramp-up of new technologies.
“This acquisition will benefit U.S. farmers by enabling Dow
AgroSciences’ seed brands to offer growers even more high
performing corn and soybean germplasm with the characteristics
growers are looking for,” said Brian Barker, General Manager, U.S.
Seeds, Dow AgroSciences.
It is expected that the current operational structure of
Coodetec will be maintained. A team is being led by Vitor Cunha,
former Regional Sales Director for Dow AgroSciences, who is now
overseeing the operation as General Manager. Ivo Carraro will
remain Coodetec’s Administrative Director.
About Dow AgroSciencesDow AgroSciences discovers,
develops, and brings to market crop protection and plant
biotechnology solutions for the growing world. Based in
Indianapolis, Indiana, USA, Dow AgroSciences is a wholly owned
subsidiary of The Dow Chemical Company and had annual global sales
of $7.3 billion in 2014. Learn more at www.dowagro.com. Follow
Dow AgroSciences on Facebook, Twitter, LinkedIn,
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®™ Trademarks of The Dow Chemical Company (“Dow”) or an
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directions.
POWERCORE™ multi-event technology developed by Monsanto and Dow
AgroSciences.
Dow AgroSciencesRobyn Heine, 317-337-4807rheine@dow.com
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