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Tag Archives: Agribusiness

CHEMCHINA FILES FOR U.S. ANTITRUST APPROVAL

ChemChina last week filed for antitrust approval with the FTC for its $43 billion deal to buy Syngenta. ChemChina expects the U.S. antitrust process to “be on track,” and has already been cleared by a U.S. national security panel. The deal won antitrust consent in Australia, but the EU antitrust review was extended until April… read more

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PROJECT MAY BRING 1,300 JOBS TO HAVANA

City officials have unanimously cleared the way for a $150 million agri-business and energy project at the Havana Industrial Park. The two projects are expected to bring a total of 1,300 high quality jobs to the city. The agri-business project, an aquaponics facility, will combine conventional aquaculture with hydroponics. The energy project will retrofit locomotive… read more

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JOB CUTS

Citing the downturn in the farm economy, Pioneer and Monsanto will forgo nearly $21 million in Iowa tax incentives to avoid their goal of creating about 350 jobs.

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CROP INSURANCE SALE

Zurich has agreed to pay up to $1.05 billion for Wells Fargo’s crop insurance business. Zurich’s American Insurance Company unit will buy Rural Community Insurance Services in a deal that is expected to close by the end of the first quarter of 2016.

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FARM MACHINERY SALES DOWN IN 2015

With producers facing what the U.S. Department of Agriculture has estimated as the worst year for farm income in a decade, the sale of farm machinery is down across the board. The Association of Equipment Manufacturers said U.S. sales of 100-plus horsepower tractors were down 23.6% in 2015. Sales of four-wheel drive tractors were down… read more

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DOW-DUPONT LINKUP

Dow Chemical and DuPont are in advanced talks to merge, in what would be a combination of two of America’s oldest companies that together are worth nearly $120 billion. Combined, they would hold 41% of the U.S. corn seed business and 38% of the soybean market. The merger could face regulatory obstacles,  Wall Street Journal… read more

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CHINESE BID FOR SYNGENTA

Syngenta AG shares surged Friday after a report that the Swiss pesticides and seeds maker could be the target of a nearly $42-billion offer from China National Chemical Corp. The Wall Street Journal reports neither company is commenting.

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AG MERGERS

Some of the world’s largest agricultural companies are looking to combine with one another as three years of shriveling crop prices have pressured profits, in what would be the industry’s first big shake-up in at least a decade. The Wall Street Journal says DuPont/Pioneer, Syngenta and Dow are discussing possible deals.

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DOW’S FUTURE

Dow Chemical Co. is weighing options for its business that supplies farmers with pesticides and seeds, the latest sign of consolidation in the global agriculture industry.

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CARGILL EARNINGS

Cargill Inc. says its fiscal first-quarter earnings rose 20% from a year earlier, as the company also bounces back from posting its first loss in 14 years in its previous quarter.

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