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2-Plants: Global joint venture in rape seed breeding announced

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TITLE:  Danisco Seed (DK) and Dow AgroSciences (US) announce
        global joint venture in oilseed rape
SOURCE: PR Newswire
DATE:   May 4, 1999

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Danisco Seed and Dow AgroSciences Announce Global Joint Venture in Oilseed Rape 

Danisco Seed and Dow AgroSciences announced today the execution of an agreement that will lead to the formation of an oilseed rape breeding joint venture whose objective will be to develop a world class plant breeding and development program. Its initial focus will be in North America and Europe, with subsequent movement into other global oilseed rape markets. Advanced technologies will be applied to develop new varieties and hybrids that will increase the value of oilseed rape, ultimately bringing additional value and products to customers. Both companies will be contributing their significant oilseed rape portfolios, including gene pools, breeding materials, and oil seed rape products. The new varieties developed by the joint venture will be marketed primarily through each company's existing marketing channels, with Dow AgroSciences focusing on North America under the Nexera* canola seed brand and Danisco Seed extending its position in Europe.

The 50/50 joint venture will have its primary plant breeding facilities in Holeby, Denmark, and Saskatoon, Saskatchewan, Canada. Additional breeding locations will be located in Germany and France. "This joint effort between two companies with different activities in seed breeding, agriculture and industrial production will enable us not only to establish a sizeable breeding program but also to advance the tools developed in biotechnology, " says Bjarne Skov Jensen, President, Danisco Seed. Tom Wiltrout, Global Seeds Leader for Dow AgroSciences, added, "We are very optimistic and pleased with Danisco Seed as our partner in this joint venture. The strengths each company brings will allow for significant synergy in developing new and enhanced oilseed rape products. It also reaffirms Dow AgroSciences' view that partnerships and alliances like this provide a great opportunity for success in bringing to market new and valuable products that benefit our customers." Named to lead the!
 effort is Morten Helt Poulsen, recently appointed Vice President, Breeding & Trials, for Danisco Seed. Dr. Poulsen will also be appointed as President of the Joint Venture.

Danisco A/S, based in Copenhagen, Denmark, is a major international company focused in the food ingredients, sweetener and flexible packaging industries and had 1998/99 net sales of 18.8 billion DKK. Danisco Seed -- a division of Danisco A/S -- breeds and markets seed for sugar and fodder beet, spring and winter oilseed rape, peas and sunflower. Danisco Seed is located in Holeby, Denmark and has subsidiaries in 7 European countries with 280 employees and sales of more than 400 million DKK.
Dow AgroSciences LLC, based in Indianapolis, Indiana, USA, is a global leader in providing pest management and biotechnology products that improve the quality and quantity of the earth's food supply and contribute to the safety, health and quality of life of the world's growing population. The company employs more than 3,000 people in over 50 countries and has world wide sales of more than US $2 billion. Dow AgroSciences is a wholly owned subsidiary of The Dow Chemical Company.

* Trademark of Dow AgroSciences LLC

CONTACT: Bjarne Skov Jensen of Danisco Seed, +45-54-60-60-31
Ted McKinney of Dow AgroSciences, +1-317-337-4792 


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