BUENOS AIRES (Reuters) – Argentine seed technology company Bioceres said on Friday it has agreed to expand its collaboration with Swiss seed and pesticide maker Syngenta to develop and market its biological seed treatment solutions globally.
The deal between the two companies, which are already involved in Argentina, will see Syngenta become the exclusive commercial distributor for these products globally and work on research and development of new products with Bioceres.
Bioceres develops biological products that help improve crop nutrition and reduce the need for nitrogen fertilizers. It also has a range of drought-tolerant crops, although it wouldn’t be part of the deal.
It bought ChemChina, which plans a $10 billion initial public offering, in 2017 for $43 billion, which was merged into Sinochem Holdings Corp last year.
Bucers said the two companies will expand their cooperation into markets such as Brazil and China, as well as other regions around the world.
“Biological products play an important role in offering farmers new solutions to increase crop yields while reducing the ecological footprint of agriculture,” Bioceres CEO Federico Trucco said in a statement.