SASKATOON (Staff) – AgrEvo, one of the world’s largest agricultural chemical companies, has bought PGS International, a leader in plant biotechnology.
Though headquartered in Europe, both companies have significant presence in Western Canada and research facilities in Saskatoon.
Steve Meister, AgrEvo Canada’s communication manager, said the deal is another step in his company’s evolution. “AgrEvo is developing more into crop production and not crop protection,” he said from Regina.
The agricultural chemical industry is getting more involved in biotechnology to give seeds protection. Chemicals will remain the mode of protection in some instances, but increasingly the protection will be put into the seed itself, Meister said.
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The worldwide market for genetically altered plants is estimated to reach $6 billion by 2005.
PGS, which has its principle research facilities in Belgium, has a broad portfolio of patents covering important traits and technologies for genetically modified plants.
Of particular interest for Canadian farmers are two PGS high-yield hybrid canola varieties that carry resistance to AgrEvo’s Liberty glufosinate herbicide. These have been registered and will be available in 1997.
PGS had more than 20 researchers in Saskatoon who will now join efforts with AgrEvo’s team here, raising the total to more than 40.
AgrEvo, which is owned by Hoechst and Schering, began its takeover by buying 75 percent of PGS shares for about $550 million (U.S.)
