The agricultural group Syngenta is still staying true to its roots in Basel even after the takeover by Chemchina, as the newly founded Syngenta Group will be headquartered there. In addition to the former Syngenta AG, the group also comprises Adama from Israel and the agricultural business of Sinochem, which is based in China.
Syngenta Group started operating on Thursday according to a press release. The three companies are being connected to create a much larger group. Last year Syngenta, Adama and Sinochem achieved sales of 23 billion US dollars. In comparison, when Chemchina took on Syngenta in 2017 for 43 billion US dollars, the company had achieved sales of just under 13 billion dollars.
According to its own information, Syngenta Group is now the global market leader in crop protection, third place for seeds, and the market leader for fertilizers in China. Overall, it employs 48,000 staff in more than 100 countries.
Erik Fyrwald, former CEO of Syngenta AG, will head up the new group as CEO. He says: “I am pleased that our new organization is ready to bring the diversity and expertise of our teams to deliver the broadest range of sustainable and competitive products.” He goes on to say that the individual business units will be “enhanced” by the collaboration within the group.