Dow Chemical Company's subsidiary, Mycogen Seeds, has acquired the assets of Cargill Hybrid Seeds from Cargill Inc. Dow plans to combine the Mycogen and Cargill seed units, creating the third-largest U.S. seed corn producer.
The purchase, which was expected to close last month, will include all seed research, production and distribution assets of Cargill Hybrid Seeds in the U.S. and Canada, except Cargill's InterMountain Canola, Goertzen Seed Research and the Western Canadian seed distribution business. Financial terms were not disclosed.
The sales, service and distribution of Cargill and Mycogen seed products won't be affected through the 2001 growing season, officials say.
"We are very pleased to have found a good home for Cargill Hybrid Seeds," says Cargill Executive Vice President Fritz Corrigan.
Cargill Hybrid Seeds and Mycogen Seeds both develop and sell corn, soybean, sunflower, alfalfa and sorghum seed in the U.S. and Canada.