Devgen & Leads Agri sign agreement for distribution of Devgen's
hybrid rice seed products in the Philippines
Zwijnaarde, Belgium, May 13, 2009, Manilla, Philippines, May 13, 2009
Devgen (Euronext Brussels; DEVG) and Leads Agri today announced the
signing of an agreement for the distribution by Leads Agri of
Devgen's hybrid rice products for the Philippine territory.
Both companies will combine their respective expertise. Leads Agri is
a market leader in the distribution of high quality agrochemicals in
the Philippines with country wide presence. Devgen is an important
player in the field of hybrid rice seed breeding, production and
marketing in India benefiting from a global technology platform.
Devgen furthermore established a presence in the Philippines with
breeding stations, working on a pipeline for tropical hybrid rice,
and production of hybrid rice seed in Mindanao for the Philippine
market.
Under this synergistic distribution collaboration, Devgen and Leads
Agri will jointly promote Devgen's hybrid rice product with Leads
Agri's chemical solutions to provide a complete solution for the
Philippine rice farmers. The hybrid seeds will be sold under Devgen's
"Frontline" brand name.
"It is a pleasure to work with Leads Agri, one of the leading
distributors in the Philippines for agrochemical products", says
Thierry Bogaert, CEO of Devgen, "Leads Agri shares our philosophy of
building a strong relationship with the farmer."
Fernando Malvedo, CEO of Leads Agri says: "We are deeply honored by
the trust & confidence that Devgen, a global force in Hybrid seeds
has given to Leads Agri. As the leading Filipino crop protection
company , it is our earnest desire to continue serving the Filipino
farmers not only with high quality crop protection products but also
provide the latest in biotechnology i.e. hybrid rice which will help
them achieve a high level of productivity that will result to their
economic upliftment. With the hybrid seeds in its product portfolio,
Leads Agri is now in a much better position to further strengthen its
position as the 3rd largest crop protection company in the
Philippines, only behind the two giant multinational companies."
About Leads Agri
Leads Agri Products Corporation is engaged in importation and
distribution of environmental science and crop protection products,
such as but not limited to pesticides and foliar fertilizers, and
agrochemical formulation plant management service contracts.
For more information please contact:
Mariano T.Tabur, Technical Manager
Tel: + 632-687-90-10
mttabur@leadsagri.com
or visit: www.leadsagri.com
About Devgen
Devgen's mission is to enable farmers to sustainably grow more food
on less land, with less water, agrochemicals and labour.
Devgen uses advanced biotechnology and molecular breeding technology
to make high yielding seeds and crop protection solutions with a
superior environmental profile.
Devgen brings this technology to the market in the world's major food
and feed crops through two complementary strategies:
- Licensing Devgen technology for use in corn, cotton and soy and
selected other crops in exchange for R&D funding, and milestone and
royalty payments.
- Producing and selling its premium hybrid seeds in major field crops
such as rice, sunflower, sorghum, and pearl millet, in the Indian
subcontinent and S.E. Asia.
In its Crop Protection unit, Devgen develops a novel nematicide, an
agro-chemical product that protects crops from damage by parasitic
nematodes.
Incorporated in 1997, Devgen has offices in Ghent (Belgium),
Singapore, Hyderabad (India) and Delaware (US) and employs more than
200 people.
For more information please contact:
Thierry Bogaert, CEO Wim
Goemaere, CFO
Tel. +32 9 324.24.24 Tel.
+32 9324.24.24
Thierry.Bogaert@devgen.com Wim.Goemaere@devgen.com
or visit: www.devgen.com
This press release may contain forward-looking statements containing
the words "anticipates", "expects" , "intends", "plans", "estimates",
"may" and "continues" as well as similar expressions. Such forward
looking statements may involve known and unknown risks, uncertainties
and other factors which might cause the actual results, performance
or achievements of Devgen to be materially different from any future
results or achievements expressed or implied by such forward-looking
statements. These forward looking statements speak only as of the
date of publication of this document. Devgen disclaims any obligation
to update such forward looking statements in this document to reflect
any change in its expectations, conditions or circumstances on which
such statement is based, unless required by law or regulation.
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
