Syngenta to supply Makhteshim Agan with fungicide azoxystrobin

Date:11-20-2009

• Syngenta to supply Makhteshim Agan with azoxystrobin
• Capacity expansion responding to growth in demand
• Leveraging low cost production

Syngenta and Makhteshim Agan  announced a long term agreement under which Syngenta will supply Makhteshim Agan with its fungicide azoxystrobin. The agreement will offer growers a wider choice of solutions through the distribution channels of both companies.

Syngenta will continue to expand the sales of its azoxystrobin based fungicide solutions while Makhteshim Agan will develop and commercialize its own range of products based on azoxystrobin, mainly in mixtures with its existing fungicide portfolio.

"azoxystrobin plays a critical role in responding to growing food demand by increasing the yield and quality of grain, vegetable and fruit crops around the world,” said John Atkin, Syngenta Chief Operating Officer Crop Protection. Last year we announced a capacity expansion program for azoxystrobin anticipating further growth in our unique fungicide solutions and also potential demand from third parties. The outlook for the development of our own portfolio is strong and this agreement will enable us further to leverage our outstanding low cost production.”

The active ingredient azoxystrobin, developed by Syngenta, is the worlds best selling fungicide. azoxystrobin, which belongs to the strobilurin chemical group, has a broad spectrum of fungicidal activity and is now registered for use on approximately 120 different crops in some 100 countries.

Financial terms of the agreement have not been disclosed.