Syngenta reports 9 percent increase in quarterly sales

dranii@newsobserver.com April 18, 2012 

Agribusiness giant Syngenta reaped a 9 percent gain in quarterly sales, thanks in part to higher prices.

The Swiss company, which employs about 400 at its biotechnology research center in Research Triangle Park, reported Wednesday that sales volume in the first quarter rose 5 percent to $4.3 billion after adjusting for currency fluctuations. Price increases contributed an additional 4 percent to revenue growth.

CEO Mike Mack, in a prepared statement, hailed “an excellent start to the season in both Europe and North America.”

Sales rose 13 percent in North America, where the company reported strong demand for Agrisure Viptera corn seed. This insect-resistant corn was discovered by an RTP scientist, Greg Warren, after he studied spoiled milk that he found in his refrigerator.

Worldwide sales of seeds rose 13 percent. Sales of crop protection products such as herbicides and insecticides climbed 9 percent.

Staff writer David Ranii

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