Syngenta and Monsanto end legal dispute
The Swiss company Syngenta said it has resolved dispute with its rival over their corn and soybean businesses.26 May 2008
BASEL - Swiss agrochemicals company Syngenta said Friday it has resolved a legal dispute with US-rival Monsanto over their respective corn and soybean businesses.
Syngenta said it will withdraw antitrust and infringement cases related to Monsanto's use of herbicide-tolerant and insect-protected corn technologies, and herbicide-tolerant soybean technology.
In return, Monsanto will licence Syngenta's technology for making crops resistant to the herbicide Dicamba.
Syngenta will also licence one of Monsanto's "Roundup Ready" technologies for increasing soybean yield.
The two companies agreed to cooperate in developing new herbicide-tolerant and insect-protection products for the cultivation of corn, cotton and soybeans.
Syngenta shares fell 1.5 percent to CHF 315.25 on the Zurich exchange on Friday.
[AP / Expatica]