In his first official announcement after being named president of the board of directors of Switzerland's Syngenta, Ren Jianxin, founder and president of ChemChina, the company that acquired the Swiss seed and agrochemicals multinational for US $43 billion, said their goal was to consolidate their leadership in the sector and that they would make more investments in innovation.
The Chinese entrepreneur, who has built a low profile empire, spoke about the importance of emerging markets, which now account for 53% of Syngenta's total turnover.
"We share the company's strategic and long-term vision and look to support its growth. We will work for the benefit of producers and to ensure food security, based on the principles of technological leadership, environmental safety, and sustainability," he said during a press conference at the headquarters of the company in Basel.
Syngenta seeks to increase its market share through organic growth and collaborations and it is considering acquisitions focused on the seed market. In 2016, the company ranked third in the seed market with a turnover of $2.7 billion and a market share of 7%. They have surpassed DuPont (17%) and Monsanto (27%). That was its performance without taking into account the category of agrochemicals.
In addition, the strategic plan aims to strengthen crop care, one of Syngenta's strongest programs.
"This transaction is historical, not only because it is the largest acquisition of a Chinese company ever, but also because the agreement is focused on growth," said Michel Demare, the vice president of Syngenta. Meanwhile, Erik Frywald, the global CEO of the company said that they would continue to seek to improve the efficiency and productivity of farmers.
Source: lanacion.com.ar