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Dow AgroSciences Acquires MTI, Corn Breeding Program
Indianapolis, IN - May 01, 2007 Dow AgroSciences LLC, a wholly owned subsidiary of The Dow Chemical Company, announced today it has acquired assets of the Austrian affiliate of Maize Technologies International (MTI), an Austrian based corn seed company, including its breeding programs, germplasm, and related technology, as well as ownership of MTI's French affiliate and other related assets. Financial terms of the purchase were not disclosed. “MTI is a good fit for Dow AgroSciences as we work to bring innovative solutions to corn farmers around the world,” said Jerome Peribere, Dow AgroSciences president and CEO. “Dow AgroSciences gains valuable sources of new genetics to increase the depth and diversity of the company's portfolio as we expand our corn business platform in Western, Central, and Eastern Europe and North America. Additionally the genetics bring exciting potential for higher levels of stress tolerance -- cold, moisture, frost -- in early maturity zones.” About Maize Technologies International - MTI MTI is an Austrian based corn seed company with affiliates in Belgium, France, the Czech Republic, the Slovak Republic, Moldavia and the United States. MTI develops innovative corn hybrid products for the temperate corn seed regions and works in close partnership with local breeding programs in Central and Eastern Europe. Further information at www.maizetec.com . About Dow AgroSciences Dow AgroSciences LLC, based in Indianapolis, Indiana, USA, is a top tier agricultural company providing innovative crop protection, pest and vegetation management, seed, and agricultural biotechnology solutions to serve the world's growing population. Global sales for Dow AgroSciences, a wholly owned subsidiary of The Dow Chemical Company, are $3.4 billion. For Editorial Information:
Robyn Heine |
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