- is the world’s largest seed supplier;
- is based in Basel, Switzerland;
- has a net worth of more than $32 billion;
- has three primary United States entities:
- Syngenta Produce US, LLC (Delaware);
- Syngenta Crop Protection, LLC (North Carolina);
- Syngenta Seeds, LLC (Minnesota);
- marketed GMO corn seed Viptera in the United States before obtaining approval from our major trade partners, including China;
- is currently the defendant in a GMO corn lawsuit brought by thousands of U.S. corn farmers.
Syngenta is a Swiss agricultural company worth more than $32 billion. It has sales units in:
- Europe, Africa, and the Middle East;
- North America;
- Latin America; and
- Asia Pacific.
Syngenta’s 2013 Annual Report explains:
“Syngenta’s largest market is Europe, Africa and the Middle East, which represented approximately 30 percent of consolidated sales in 2013 (2012: 30 percent) followed by North America and Latin America, each of which represented 28 percent of consolidated sales in 2013 (2012: 30 percent and 26 percent, respectively). Markets for agricultural products in Europe, Africa and the Middle East and North America are seasonal resulting in both sales and operating profit for Syngenta in these markets being weighted towards the first half of the calendar year, which largely reflects the northern hemisphere planting and growing cycle. Latin America has its main selling season in the second half of the year due to its location in the southern hemisphere.”
Syngenta’s sales exceed $14 billion per year. Its crop protection products sell at double the sales volume of its seed products. Syngenta’s crop protection products include selective herbicides, non-selective herbicides, fungicides, insecticides, seed care and other crop protection offerings. Its seed sales are comprised of primarily corn and soybeans, but also include diverse field crops and vegetables. Syngenta also sells lawn and garden products.
Syngenta’s Research and Development department employs nearly 5,500 people working at R&D centers and field stations around the world. It develops Syngenta’s crop protection and seed products, as well as crop-focused solutions that integrate Syngenta’s products and technologies.
Syngenta’s Insurance for Litigation
Syngenta self-insures or uses a combination of insurance and self- insurance for certain risks, including litigation risk. On December 31, 2013 and December 31, 2012, Syngenta reported cash and cash equivalents of $902 million and $1,599 million, respectively. Of total cash and cash equivalents of $902 million (2012: $1,599 million), $153 million (2012: $125 million) is required to meet its insurance solvency requirements.
In its 2013 Annual Report to its shareholders, Syngenta states:
“Litigation is subject to many uncertainties, and the outcome of individual matters cannot be predicted with certainty. Syngenta maintains general liability insurance, including product liability insurance, covering claims on a worldwide basis with coverage limits and retention amounts which management believes to be adequate and appropriate in relation to Syngenta’s businesses and the risks to which it is subject.”
Syngenta’s Corporate Governance
Syngenta is governed by an executive committee, which is chaired by Syngenta CEO Michael Mack. The executive committee also includes as members John Ramsay, Syngenta’s COO, John Atkin, Robert Derendes, Caroline Luscombe, Christoph Mader, Mark Peaccok, Davor Pisk, and Jonathan Seabrook.