Financial Daily from THE HINDU group of publications
Wednesday, Jan 07, 2004
Financial Daily from THE HINDU group of publications Wednesday, Jan 07, 2004 |
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Corporate
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Announcements Bayer CropScience to launch 4 new products Our Bureau
Mumbai , Jan. 6 AS part of its plans to consolidate its presence in the Indian insecticide, herbicide and fungicide markets, Bayer CropScience plans to introduce four new products in the country in the current year. The company had introduced four products in the Indian market in 2003. The four new products — one insecticide, one herbicide and two fungicide — will be introduced in a phased manner, according to Mr Jochen Wulff, Chairman of the board of management of the company. He told presspersons here on Tuesday that the company would be focusing on India as a major supply centre for global distribution of both its formulated products and active ingredients (AIs). Bayer CropScience has also set up a new facility for the production of Imidacloprid, the company's most important AI, in Maharashtra. The plant, with an annual capacity to produce 500 tonnes of Imidacloprid, which accounts for about 9 per cent of the agro-chemical market in India, is expected to go into full production soon. Mr Wulff said the recent integration of Bayer CropScience, which was formalised before the main crop season in India, has resulted in a complimentary range of products for the company, as well as a wider distribution network. He said the company, which is present in 120 countries, is aiming at expanding its activities in the seeds and plant bio-technology sectors. "The aim is to achieve synergies with a value of euro 570 million annually from 2006. It is our goal to introduce two to three new compounds in the global market every year, resulting in over euro 800 million additional sales by 2006," he said.
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