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what's new buy and sell Jan 1, 2001 12:00 PM APPLY STAFF Syngenta in; Aventis out? Our cover photo symbolically reflects dramatic shifts in the ag chem and seed industries. In fact, late-breaking news affected changes right up to the last minute. Final details on Syngenta, created with the demergers of the Novartis agribusiness and Zeneca Agrochemicals, came just as we were planning the photo. Then the parent company of Aventis CropScience announced a likely spinoff by the end of 2001. That move was linked to the international snafu when minute amounts of StarLink corn labeled for livestock feed only were found in taco shells, although company officials say the move to make a change had been in the planning stages months earlier. Latest reports indicate Aventis CropScience may be renamed Agreva and divested through an IPO before the end of 2001. Or it might be sold to another company. Aventis CropScience's product distribution and retail programs for this season should not be affected by the announcement. (See manufacturer's report.) AGCO buys Ag-Chem Equipment Two equipment giants linked up when AGCO Corp. agreed to acquire Ag-Chem Equipment. AGCO claims the sale will make the firm market leader in self-propelled sprayers. The sale also included SoilTec, Ag-Chem's site-specific technology arm. Ag-Chem, based in Minnetonka, MN, posted sales of $299 million last year. Current Ag-Chem brands include the RoGator, Terra-Gator and LorAl. If the sale is approved, Ag-Chem shareholders will receive a combination payment of cash and AGCO stock valued at $25.80 per Ag-Chem share. Industry to self-certify adjuvants A national voluntary certification program for spray adjuvants was implemented last November by the Chemical Producers and Distributors Association (CPDA). If it works, the program could help retailers and growers get a better handle on which of the more than 4,000 unregulated products on the market work and which don't. Adjuvants, which are added to the spray tank to improve performance of crop protection products, are not regulated by federal or state agencies. The certification program will require CPDA manufacturer members who make spray adjuvants and soil conditioners to self-certify that each product they sell meets standards developed by a CPDA task force. Once an application is approved by a CPDA committee, the product will be identified with a certification sticker. For more information on adjuvants, check out www.siu.edu/~weeds/adjuvants/frames-index.htm. |
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