Subject : Business acquisitions and mergers
COALDALE, AB, the 3 oct. 2024 /CNW/ – Bayer CropScience Inc. (Bayer) is pleased to announce that it will acquire a canola processing and packaging facility from HyTech Production Ltd., located in Coaldalein Alberta. The planned transfer date is 1is November.
“As Bayer continues to expand its canola business, we were looking for ways to improve processes and assets for this important crop,” says Antoine BernetPresident and CEO of Bayer Inc. With the expected increase in canola volume, these facilities are ideally located and designed to support Bayer’s current canola operations and future growth. »
HyTech Production Ltd. will retain its other assets as well as all of its hybrid seed production capacities to maintain and consolidate its partnerships with current customers, and to seize new opportunities. “With its commitment to growth, quality and reliability, HyTech aims to improve its offering and discover innovative seed production methods to ensure long-term value for its loyal customers and seed producers,” says Cameron Van Roonco-managing director of HyTech Ltd.
Bayer currently uses the services of contract subcontractors, including HyTech, for canola processing and packaging, and will continue to employ a multi-faceted approach. This acquisition will allow a more seamless transition of the seed site of Cranbrook (British Columbia) at the seed cleaning facilities of Lethbridge (Alberta).
“Bayer can, by optimizing its canola production process, improve the service and supply of canola hybrids to customers,” says Bernet. We will have more visibility and control over the seed process, from production to packaging, which will directly benefit the producers who use our seeds. »
In accordance with the deed of acquisition, the company will take possession of the processing and packaging facilities on 1is November, and all current HyTech employees working there will become Bayer employees.
About Bayer
Bayer is an international company whose main activities are concentrated in the life sciences, namely health care and nutrition. In line with the company’s mission, Health Without Hunger, its products and services aim to help people and the planet thrive by supporting efforts to overcome the daunting challenges of a growing and aging global population. Bayer subscribes to the principle of sustainable development and positive impact from its activities. At the same time, the group aims to increase its earnings power and deliver value through innovation and expansion.
The Bayer brand is recognized throughout the world for the reliability and quality of its products. During In the financial year 2023, the group had around 100,000 employees and achieved sales of 47.6 billion euros. Research and development expenditure, before exceptional effects, was 5.8 billion euros. For more information, visit www.bayer.ca.
SOURCE Bayer Inc.
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Press release sent on October 3, 2024 at 3:00 p.m. and distributed by:
