Syn­genta tar­gets ChemChina deal

China Daily (Canada) - - BUSINESS -

Syn­gen­taAGwill put more fo­cus on cost-cut­ting as the Swiss­maker of agro­chem­i­cals and seeds aims to com­plete a $43 bil­lion deal to be taken over by ChemChina by the end of the year. The com­pany plans to be half­way through a pro­gram to save as much as $1 bil­lion to im­prove ef­fi­ciency and boost cash flow by the end of 2016, Chief Ex­ec­u­tive Of­fi­cer John Ram­say said in an in­ter­viewon Wed­nes­day. Afourth year of low crop prices and the im­pact of a stronger dol­lar and other cur­rency moves has fo­cused the com­pany’s at­ten­tion on its cost base, along­side other mea­sures to in­crease profit mar­gins, he said.

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