Subsequently, the board of directors of Syngenta Group will engage and appoint Mr. Erik Fyrwald as Syngenta Groupâs CEO, and Mr. Chen Lichtenstein will be nominated as Syngenta Groupâs CFO. "We will increase the research that we do in China both for China and for the world," Fyrwald said, adding this would not come at the expense of Syngenta's research efforts elsewhere.Fyrwald suggested China could become a hub in the development of new gene editing procedures that refrain from using bits of genetic code from different species.Under the conventional transgenic approach, a bacteria's bug-killing ability has, for instance, been commonly used for many GMO crops.Echoing a familiar campaign in the seeds industry to overcome consumer fears about genetically-modified foods which also exist in China, Fyrwald said new technologies such as CRISPR-Cas9 would instead draw on a plant's existing genome. ChemChina intends to inject the 100% shares of Syngenta A.G. and 74.02% shares of ADAMA Ltd. held by ChemChina to Syngenta Group. Syngenta Group to Acquire Major Agricultural Assets from ChemChina and Sinochem GroupProduced By CMS ç½ç«ç¾¤å 容管çç³»ç» publishdate:2020/04/04 08:40:26 This is also an important measure for Sinochem Group and ChemChina … Meanwhile, Syngenta Group intends to acquire major agricultural assets from Sinochem Group.
This move aims to further deepen the reform of state-owned enterprises and optimize resource allocation. ZURICH (Reuters) - ChemChina and Sinochem . ChemChina intends to inject the 100% shares of Syngenta A.G. and 74.02% shares of ADAMA Ltd. held by ChemChina to Syngenta Group. The new entity, named Syngenta Group, also incorporates Israeli crop protection company Adama.Chinese state-owned enterprise (SOE) ChemChina owns both Adama and Syngenta, and is … ChemChina and Sinochem are consolidating their agricultural assets into a new holding company to be called Syngenta Group, ChemChina unit Syngenta said on Sunday.
(Writing by Ludwig Burger; Editing by Greg Mahlich and Mark Potter)Five Years After Devaluation, China Has the Yuan It WantedAsian Stocks Rise Most in a Week; Oil Advances: Markets WrapHow Singapore Nurtured Foreign Trio Who Became BillionairesChina Is Ditching Expensive Brazilian Soybeans for U.S. SuppliesTesla rival Nikola scores deal to make thousands of 1,000-horsepower electric garbage trucksBreaking down Trump’s four executive orders for economic relief and what comes next Papa John's CEO: Franchisees think our brand is 'pandemic proof''If we get giddy about liquidity, I think that's a mistake for investors': Comerica Asset Management CIOPlatinum Giant South Africa Forced by Virus to Look Into AbyssStock market news live updates: Stock futures open slightly lower after mixed session on Wall Street "There are rapidly advancing technologies that would not be considered GMO, where you don't have to bring genes from other organisms." * Says Syngenta will push expansion of biotech R&D in China* Says move beyond transgenic approach shows promise (Adds details on future organisation, planned biotech R&D push in China)DAVOS, Switzerland, Jan 17 (Reuters) - Syngenta, the Swiss pesticides and seeds group being taken over by ChemChina, does not expect antitrust regulators to force the Chinese state-owned company to put its subsidiary Adama up for sale, Syngenta's CEO said on Tuesday. Syngenta Group will reportedly have annual agrochemical sales of around $15 billion. Chen Lichtenstein, current president and CEO of ChemChina's crop protection company ADAMA, will be nominated as the CFO of the newly-formed Syngenta Group; Erik Fyrwald will take over as the CEO. 600500.SS> are consolidating their agricultural assets into a new holding company to be called Syngenta Group, ChemChina unit Syngenta said on Sunday. This has since changed, but to a minor degree. Syngenta, the Swiss pesticides and seeds group being taken over by ChemChina, does not expect antitrust regulators to force the Chinese state-owned company to put its subsidiary Adama … This is also an important measure for Sinochem Group and ChemChina to further strengthen cooperation.Mr. There will be some remedies in both the U.S. and the EU but I can't speak to any details," Erik Fyrwald told Reuters on the sidelines of the World Economic Forum in Davos.Unveiling details about Syngenta's future role within ChemChina for the first time, Fyrwald also said Israel-based Adama, a maker of generic versions of pesticides without patent protection, would not be folded into Syngenta, allowing the Swiss group to focus on biotech research in China and elsewhere.The companies are working to finalise agreements with regulators in the United States and European Union about the $43 billion takeover, which would be the largest outbound acquisition by a Chinese company.Sources close to the matter told Reuters last week that ChemChina and Syngenta had proposed minor concessions to the EU's competition watchdog, with one person saying it was unlikely Adama Agricultural Solutions Ltd would have to be divested.The EU Commission recently extended its review of the deal to April 12 and Fyrwald said he was "highly optimistic that by that time, we'll have made sufficient progress in the U.S. and EU to be going forward".Adama would continue to be managed separately because "we're an R&D company and they're a generic company.
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