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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

Syngenta embarks on cost-saving plan, ups Ebitda targets

7:22 AM MST | February 7, 2014 | —Natasha Alperowicz in Basel

Syngenta, the world’s largest producer of agricultural chemicals, has announced its fourth-quarter and full-year 2013 results and says it is embarking on a cost-cutting plan that aims to achieve an annualized $1 billion in savings by 2018. The plan follows a decline in full-year earnings, due mainly to a write-down of $170 million in Syngenta’s seeds business following excess production and a major decline in royalty payments. Meeting the press: Syngenta senior management: (l–r)Atkin, Davor Pisk, Mack, Ramsay, and Christoph Mäder...

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