US-Investment Bayer Crop Science Plans to Invest Close to US$ 1 Billion in the US Market
Bayer Crop Sciences officially inaugurated an integrated R&D site in West Sacramento, California. The company aims to grow faster than the U.S. market. Furthermore Bayer Crop Science is expanding the Crop Protection business by stepping up production capacities and is alsoiInvesting continuously in infrastructure for the Vegetable Seeds business.
Monheim/West Sacramanto, USA – Bayer CropScience sees a positive long-term market development in North America and is committing significant resources to spur further growth. “We see future growth driven by increasing and sustained demand from customers for improved seeds and innovative crop protection products,” said Bayer CropScience CEO Liam Condon at the official inauguration of the company’s new integrated R&D site in West Sacramento, California.
“We are investing heavily in R&D infrastructure such as laboratories, greenhouses and breeding stations as well as new production capacities and seed processing facilities,” Condon explained. He said that the company aims to grow faster than the U.S. market.
Bayer CropScience plans to invest close to US$ 1 billion (EUR 700 million) in Capital Expenditures (CAPEX) in the United States between 2013 and 2016, mainly to ramp up research and development and to expand a world-class product supply of its top crop protection brands. These expenditures are part of a global investment program Bayer CropScience started last year, with a total CAPEX for the period 2013 to 2016 of EUR 2.4 billion (approximately US$ 3.3 billion).
Consolidating and expanding R&D organization is key for Bayer CropScience
Bayer CropScience seeks to better leverage the full research and development capabilities by consolidating and expanding its global R&D organization. “Our integrated West Sacramento site represents a major step forward in our efforts to enhance our vegetable seeds and biological crop protection innovation efforts,” said Dr. Adrian Percy, Global Head of Research and Development at Bayer CropScience.
“The investment into this state-of-the-art facility creates an environment where our researchers and experts can find the best possible conditions to discover solutions that growers across the globe can depend on to produce high-quality food in a sustainable manner.”