This excerpt taken from the SYT 6-K filed Nov 16, 2005.
Basel, Switzerland, 15 November 2005
Syngenta will build a new Seed Care Institute at its Research and Development Center in Stein, Switzerland. This new, state-of-the-art center will serve as Syngentas global R&D facility for developing and testing seed treatment technologies. It will significantly expand the companys capability to serve its customers, including seed companies, seed treaters and growers.
Construction will start in the first quarter 2006 and completion is expected by mid-2007. The total investment will be approximately $7 million in addition to the $40 million investment to build a new chemistry research laboratory for disease and insect control products announced earlier this year.
This investment will accelerate our innovation capability and underpins our ambition to become the leader in this fast growing segment said Kris Sirchio, Head of Syngenta Professional Products. The Institute will be an industry leading center for technology development and training. It will enable novel seed treatments and associated services to reach the market sooner.
Seed treatment, a technology in which crop protection ingredients are applied directly onto the seeds prior to sowing, is one of the most efficient and economic ways to protect crops from fungi, bacteria and insects. It is also the fastest growing segment in crop protection with a projected global market value of about $1.4 billion in 2005.
Syngenta is a world-leading agribusiness committed to sustainable agriculture through innovative research and technology. The company is a leader in crop protection, and ranks third in the high-value commercial seeds market. Sales in 2004 were approximately $7.3 billion. Syngenta employs some 20,000 people in over 90 countries. Syngenta is listed on the Swiss stock exchange (SYNN) and in New York (SYT). Further information is available at www.syngenta.com.
Syngenta 15 November 2005 / Page 1 of 1
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.