Earnings Release • Mar 20, 2014
Earnings Release
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Vilmorin & Cie SA Public limited company with Board of Directors, with a capital of 288 833 642.75 Euros Head Office: 4, Quai de la Mégisserie – F-75001 PARIS SIREN Paris 377 913 728 Fiscal year from July 1st to June 30th NYSE Euronext Paris (Compartment A) – Eligible for Deferred Settlement Order Indices: SBF 120, CAC Mid & Small, CAC All-Tradable, CAC All Share
March 20, 2014
Vilmorin & Cie has just closed the full takeover of the company Seed Asia, whose head office is based in Bangkok (Thailand). Specialized for more than twenty years in the creation, production and distribution of hybrid tropical corn, Seed Asia is one of the rare independent local players for this crop.
Seed Asia, with a headcount of more than 80, has an extensive sales network of over 200 distributors across South East Asia. Representing around 8% of the Thai market, in 2013 the company achieved growing sales of 9 million dollars, including 40% made internationally (Cambodia, Myanmar, Sri Lanka, etc.). Seed Asia has two operating entities, in Thailand and Cambodia, along with other research and production facilities.
The acquisition of Seed Asia corresponds to Vilmorin & Cie's strategic objective of internationalizing its corn seed activities, with locations in a new area with high potential – South East Asia, which represents nearly 9 million hectares of corn. Furthermore, through this operation Vilmorin & Cie has gained access to proprietary genetic resources of high quality tropical corn, well-suited to other zones including India, Brazil, southern China and Africa. Vilmorin & Cie will also benefit from existing co-operation agreements between Seed Asia and research institutes and universities, particularly in the Philippines, Brazil and the United States.
"Since our team started breeding tropical corn more than 20 years ago, we've focused on R&D to develop quality hybrids that bring value to farmers in Thailand and this region," said Tim Welsh and Nida Sombatpiboon, the founders of Seed Asia who will remain in the management of the company. "With Vilmorin & Cie, we look forward to expanding our commitment to farmers and to accessing more technology that will help us sustainably create a broader range of products that meet global needs."
"With the acquisition of Seed Asia, achieved in partnership with its founders, we are extending our international presence in corn. At the same time, this acquisition has enabled us to enrich our genetic heritage, providing us with the means to rapidly build an efficient regional breeding platform for tropical germplasm. Moreover the local marketing and sales teams constitute a good base, immediately operational for distribution across South East Asia. Through this operation we have taken an important new step in our world corn seed strategy", Vilmorin & Cie's CEO Emmanuel Rougier declared.
Tuesday April 29, 2014 (before the Paris stock market opens): sales at the end of the 3rd quarter Wednesday July 30, 2014 (at the end of trading on the Paris stock market): sales for the fiscal year Tuesday October 7, 2014 (at the end of trading on the Paris stock market): results for the fiscal year
Vilmorin & Cie develops vegetable and field seeds with high added value to better meet global food requirements.
Accompanied by its reference shareholder, Limagrain, an international agricultural co-operative group, Vilmorin & Cie is currently the fourth largest seed company in the world. True to its vision of sustainable development, Vilmorin & Cie relies on ongoing investments in research and international growth to strengthen its market shares. An ambition that is driven by its corporate culture which is based on the sharing of knowledge, quality of life and respect for the needs of mankind.
[email protected] and Investor Relations
Chief Financial Officer Head of Financial Communication [email protected]
Tel: + 33 (0)4 73 63 44 85 Fax: + 33 (0)4 73 63 41 80 Website: www.vilmorin.info
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