Strategic Collaboration to enhance Rice productivity
Mumbai, September 19, 2018: India has 44 million hectares under rice cultivation, which contributes approximately 30 percent to India’s agriculture GDP impacting the livelihoods of millions of farmers. Brown Plant Hopper in Rice substantially impacts crop productivity and reduces the yield up to 20 to 30 percent and sometimes the whole crop can be lost under high pest pressure. Additionally Brown Plant Hopper develops fast resistance and therefore requires newer solutions to be developed every 2 to 3 years for sustainable production. Crystal Crop Protection Limited (Crystal) embarked on a collaborative project with Bayer CropScience Limited (Bayer) which will endeavor to enhance rice productivity by developing new crop protection solutions for effective control of Brown Plant Hopper. Crop dynamics and farmer needs in India are very different than developed nations. The difference is mainly on account of tropical climate with high pest pressure which requires safe, effective and cost-efficient solutions to meet the needs of sustainable crop production. One of the ways to serve these unique needs of rice farmers is to develop customized products through proximity innovation. Bayer is a globally renowned player in Crop Protection & Seeds and has a strong track record of innovations which have helped farmers increase productivity across a wide range of crops. Crystal is an R&D based Crop Protection manufacturing and marketing company with experience in technical manufacturing, formulation and marketing of agrochemical products in India. Under this collaboration, Bayer will provide Crystal access to newer compounds, enabling Crystal to bring new proximity solutions to the Indian market based on their manufacturing and development strengths. These solutions can then be extended to other South Asian countries. This is a unique model to foster proximity innovation which is tailor-made for the specific needs of the Indian farmer. On the signing of the agreement, Mr. Ankur Aggarwal, Managing Director, Crystal Crop Protection Limited said: “We are proud to collaborate with Bayer. This is a valuable collaboration as it will provide safe and economical solutions for rice farmers.” Srinath Bala, Head of Marketing, Bayer Crop Science Division, South Asia, said: “Bayer strongly believes in the power of trust and collaboration. This collaboration is an affirmation of our commitment to work for our farmers and ensure faster and better solutions are made available to them.”
Bayer is a global enterprise with core competencies in the Life Science fields of health care and agriculture. Its products and services are designed to benefit people and improve their quality of life. At the same time, the Group aims to create value through innovation, growth and high earning power. Bayer is committed to the principles of sustainable development and to its social and ethical responsibilities as a corporate citizen. In fiscal 2017, the Group employed around 99,800 people and had sales of EUR 35.0 billion. Capital expenditures amounted to EUR 2.4 billion, R&D expenses to EUR 4.5 billion. For more information, go to www.bayer.com
Crystal Crop Protection Ltd is a R&D based crop protection manufacturing and marketing company. The company manufactures crop protection products which include insecticides, fungicides, herbicides and plant growth regulators and bio-stimulants. The company provides crop protection solutions to the Indian farmer to assist them to maximize productivity and profitability. It has integrated operations, from undertaking R&D of new molecules to manufacturing and delivering products to farmers across India through extensive distribution network.
The Company recently enhanced its Technical production capacity by acquiring Plant of Cytec India at Nagpur (2017) with leasehold rights on land area of 40,500 sq.m. For increased commitment on the seeds Business, the company acquired Indian grain sorghum, fodder sorghum and pearl millet seeds business from Syngenta India Limited, Devgen Seeds and Crop Technology Private Limited and Devgen N.V., Belgium. Disclaimer
"Crystal Crop Protection Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its equity shares and has filed a Draft Red Herring Prospectus ("DRHP") with the Securities and Exchange Board of India ("SEBI"). The DRHP is available on the website of the SEBI at http://www.sebi.gov.in and the respective websites of the Global Book Running Lead Managers at http://www.icicisecurities.com, http://www.axiscapital.co.in, http://www.hsbc.co.in/1/2/corporate/equitiesglobalinvestmentbanking, http://www.nomuraholdings.com/company/group/asia/india/index.html, and Co-Book Running Lead Manager at http://www.smccapitals.com, respectively. Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the RHP/Prospectus which may be filed with the Registrar of Companies in future, including the section titled "Risk Factors". Potential investors should not rely on the DRHP filed with the SEBI in making any investment decision."This press release is not an offer for sale within the United States of any securities of Crystal Crop Protection Limited or any rights to purchase such securities. Securities of Crystal Crop Protection Limited may not be offered or sold in the United States absent registration under US securities laws or unless exempt from registration under such laws.