Friday, May 23, 2008

Syngenta and Monsanto end legal dispute over crop technologies

: Swiss agrochemicals company Syngenta said Friday it have resolved a legal difference with U.S.-rival Monsanto over their several maize and soyabean businesses.

Syngenta said it will retreat antimonopoly and violation lawsuits related to Monsanto's usage of herbicide-tolerant and insect-protected corn technologies, and herbicide-tolerant soybean technology.

In return, Monsanto will licence Syngenta's engineering for making harvests immune to the weedkiller Dicamba.

Syngenta will also licence one of Monsanto's "Roundup Ready" engineerings for increasing soyabean yield.

The two companies agreed to collaborate in developing new herbicide-tolerant and insect-protection products for the cultivation of corn, cotton wool and soybeans. Today in Business with Reuters

Syngenta shares rose 1.5 percentage to 324.75 Swiss francs (US$315.80; €200.44) on the Zurich exchange.

No comments: