CALGARY and BLENHEIM, Ontario, Nov. 24 /PRNewswire-FirstCall/ -- Dow AgroSciences Canada announced today it is acquiring the assets of Hyland Seeds, a division of Thompsons Limited of Blenheim, Ontario. The addition of Hyland Seeds will further expand Dow AgroSciences' current seeds business as the company anticipates the introduction of SmartStax(TM) in 2010 and Dow AgroSciences Herbicide Tolerant Trait Technology in corn in 2012. The transactional close is expected in the near future.
"This acquisition brings together two strong progressive companies with unique strengths and leadership to deliver seed and trait technology to our customers," said Jim Wispinski, Dow AgroSciences Canada president and CEO. "Hyland Seeds is a welcomed addition to our seed business. It strengthens the northern tier genetics to benefit Canada and Northern U.S. seed industry."
Under the terms of the agreement, Dow AgroSciences will acquire the Hyland brand and the sales, marketing, and administrative areas. The acquisition also includes germplasm, the R&D program with three R&D sites and the corn production facility. Dow AgroSciences will continue to independently market seeds under the Hyland Seeds brand, and Hyland will continue to be headquartered at its existing location in Blenheim, Ontario. John Cowan, general manager for Hyland Seeds, will continue in the same position.
"The entire Hyland Seeds network has worked hard to establish Hyland as the 'northern tier' genetics and trait leader," says John Cowan, general manager of Hyland Seeds. "This new alignment with Dow AgroSciences connects Hyland with a respected global leader and allows us to further strengthen our commitment to bring top genetics and traits to our customers. This alignment is good news for everyone - our customers, our employees and our business."
"From our perspective, it's a solid fit. Dow AgroSciences' commitments to integrity, customer relationships, and innovation have long been an inspiration to us," said Wes Thompson, president for Thompsons Limited. "And, we look forward to continuing to carry the Hyland flag as a dealer."
Further details of the agreement were not disclosed.
About Thompsons Limited and Hyland Seeds
Founded in 1975, Hyland Seeds has the largest, privately owned, multi-crop breeding program in Canada. Headquartered in Blenheim, Ontario, Hyland is internationally recognized for building industry-leading corn hybrids, soybeans, edible beans and cereal grains. Through extensive crop research programs, modern processing and dedicated service, the Hyland brand has become synonymous with seed quality. Using traditional and state-of-the-art technology, Hyland focuses on the development of hybrids and varieties with an agronomic fit for growers in Canada and the Northern Tier of the United States. They are a wholly owned division of Thompsons Limited.
Thompsons Limited is a family owned agricultural business headquartered in Blenheim, Ontario. They supply and service farmers and food processors through facilities in Ontario and Minnesota. Established in 1924, Thompsons exports to more than 30 countries with sales of $500 million.
About Dow AgroSciences
Dow AgroSciences LLC, based in Indianapolis, Indiana, USA, is a top-tier agricultural company that combines the power of science and technology with the "Human Element" to constantly improve what is essential to human progress. Dow AgroSciences provides innovative technologies for crop protection, pest and vegetation management, seeds, traits, and agricultural biotechnology to serve the world's growing population. Global sales for Dow AgroSciences, a wholly owned subsidiary of The Dow Chemical Company (NYSE: DOW), are $4.5 billion.
Dow AgroSciences Canada Inc. brings innovation to life through people, chemistry and biotechnology in the areas of seed & crop production and pest management. Dow AgroSciences Canada Inc. is headquartered in Calgary, with a corn breeding facility in St. Mary's, Ontario, and a canola discovery and breeding facility in Saskatoon, Saskatchewan. For more information on Dow AgroSciences Canada Inc. and its products, visit www.dowagro.com/ca.
SmartStax(TM) multi-event technology developed by Dow AgroSciences and Monsanto.
SOURCE Dow AgroSciences
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