Syngenta to merge two divisions

Agribusiness giant Syngenta, which has been winning market share from its rivals in recent years, is betting it can accelerate its gains by merging its seeds and crop protection businesses.

The Swiss company, which has a major presence in the Triangle and in Greensboro, announced its reorganization plan Wednesday in conjunction with reporting full year 2010 results that exceeded analysts' expectations.

The reorganization is being phased in through the end of 2012, and the company hasn't yet made a decision on what impact it will have on jobs, Syngenta spokesman Steven Goldsmith said.

But Goldsmith said no job cuts or other significant changes are expected in Research Triangle Park, which is the headquarters of Syngenta Biotechnology, the company's biotech research arm. The biotech research effort, which employs 400 workers in RTP, already supports both the seeds and crop protection businesses.

Syngenta also has more than 600 workers in Greensboro, which serves as headquarters for its North American crop protection business. The crop protection division makes fungicides, herbicides and insecticides.

The headquarters for the North American seeds business is in Minnetonka, Minn.

Both the Greensboro and Minnetonka operations will continue under their current leadership, but "how the organizations and the functions within those groups take shape is yet to be determined," Goldsmith said. Vern Hawkins, who heads the Greensboro site, will have the new title of regional director, as will his counterpart in Minnesota.

Syngenta expects to eventually realize $650 million in annual savings by combining the seeds and crop protection businesses, including $500 million from more efficient procurement.

Syngenta reported 2010 sales of $11.64 billion, up 6 percent.