Ad-hoc release - KWS and van Rijn set up an international joint venture in the potato business (Feb 6, 2008)
Einbeck, February 6, 2008 – KWS SAAT AG and the Dutch family owned company van Rijn intend to set up a worldwide 50:50 joint venture for the breeding, production, and marketing of seed potatoes
As per July 1, 2008 (with the beginning of the KWS fiscal year of 2008/2009), the company shall start with the marketing of seed potatoes in 60 countries. With this joint venture, both partners join their extensive experience in breeding, technological know how and a large portfolio of varieties for table and industrial use. Furthermore, the existing international distribution networks of both organizations shall be used. It is planned to achieve a turnover of around 30 million € during the first year.
Potatoes are an important product for human nutrition and industrial use. Therefore, the seed potato market constitutes an international and strategic business segment with considerable growth potential for KWS, especially in Central and Eastern Europe.
Contact:
Georg Folttmann
Head of Investor Relations
Phone: +49-5561-311-640
Mobile: +49-173-29 10 520
g.folttmann@kws.com
