This excerpt taken from the SYT 6-K filed Feb 8, 2007.
Operational efficiency: Annual cost savings from the program announced in 2004 reached $350 million, more than offsetting a cumulative oil price-related cost increase of $230 million. The program will be completed one year ahead of schedule in 2007, with expected total savings meeting the target of $425 million. The total cost will be $500 million in cash and $320 million in non-cash charges.
Further efficiencies are targeted with annualized savings of $350 million by 2011. Savings will be made in both cost of goods and operating expenses enabling additional investments in technology, marketing and product development to drive future growth. The cost of the new program is estimated at $700 million in cash and $250 million in non-cash charges.
This excerpt taken from the SYT 6-K filed Feb 14, 2006.
Operational efficiency: Savings in 2005 were ahead of target at $166 million. These savings more than offset the impact of higher oil prices on raw materials costs ($96 million) and funded additional marketing and development expenditure ($79 million). The previously announced savings target of $300 million by 2008 has been increased to $425 million. It is expected that these savings will more than offset higher raw material purchase costs. Total restructuring and impairment charges during the period were $236 million (cash: $163 million; non-cash: $73 million) of which the majority related to the operational efficiency program; the balance largely related to Seeds acquisition integration costs. The total cost of the operational efficiency program is expected to be around $850 million over five years including a non-cash charge of $350 million, of which $470 million has already been incurred.
This excerpt taken from the SYT 6-K filed Jul 28, 2005.
Operational efficiency: Total restructuring and impairment charges during the period were $92 million (cash: $62 million; non-cash: $30 million) relating to the program to streamline global operations, announced in February 2004. Restructuring costs are expected to be around $850 million over five years including non-cash charges of $350 million. Peak savings of $300 million are expected by the end of 2008; savings in the first half were $59 million.
SYNGENTA HALF YEAR RESULTS 2005 / PAGE 2 OF 24