Devgen and PT (Persero) Sang Hyang Seri sign memorandum of understanding on the introduction of biotech rice in Indonesia
Ghent - Jakarta, 17 June 2010.
Devgen and PT (Persero) Sang Hyang Seri (SHS) herewith further strengthen their
relationship. The companies have already ongoing agreements for R&D, production
and distribution of non-transgenic hybrid rice in Indonesia.
"Bringing biotech traits to market will take several years and is a complex and
stepwise regulatory and research process." Says Dr. Thierry Bogaert. "We are
pleased to further strengthen our relationship with SHS, a strong partner in
Indonesia."
"We are pleased to work with Devgen, a leader in rice trait and hybrid seed
technology" says Mr. Eddy Budiono, the President Director of Sang Hyang Seri.
"With this cooperation we will, as per government guidance, provide the
Indonesian farmer with the best, locally produced, hybrid rice to increase yield
and productivity in the country. The result will be significantly realized in
the next few years. "
Indonesia is South East Asia's largest rice growing country with approximately
12 million ha under rice cultivation.
About SHS
Pt Sang Hyang Seri is a government wholly owned company dealing with seed,
fertilizer and agrochemicals with offices and farms across Indonesia.
About Devgen nv
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
South-East Asia.
In its Crop Protection unit, Devgen developed an agro-chemical product that
protects crops from damage by parasitic nematodes. This nematicide was launched
in Turkey and in US.
Incorporated in 1997, Devgen has offices in Ghent (Belgium), and has
subsidiaries in Singapore, Hyderabad (India), General Santos (Philippines) and
Delaware (US), totalling about 280 employees.
For more information please contact:
Thierry Bogaert, CEO Wim Goemaere, CFO
Tel. +32 9 324 24 24 Tel. +32 9 324 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. Factors that could cause or contribute to such
differences include, among others: agricultural risks and difficulties,
including weather factors, diseases and pests, the costs and requirements of
regulatory compliance and the speed with which approvals are received; public
acceptance of biotechnology products; political, economic and social
developments in countries where Devgen operates and other risks and factors
detailed in the company's most recent annual report.
These forward looking statements speak only as of the date of publication of
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law or regulation. This document does not constitute, or form part of, any offer
or invitation to sell or issue, or any solicitation of any offer, to purchase or
subscribe for any securities issued by Devgen NV.
[HUG#1424563]
PR ENG FINAL: http://hugin.info/135721/R/1424563/373113.pdf
