CONTACT: Robin Starkenburg
(608) 846-6219
rostarkenburg@absglobal.com
FOR IMMEDIATE RELEASE
DEFOREST, WISCONSIN – December 2, 2005- Genus plc, the
parent company of ABS Global, Inc., has completed the acquisition of
Sygen International plc. The acquisition transforms Genus into the
largest animal genetics company in the world, with sector-leading
positions in bovine, swine and shrimp genetics.
A prime objective of the acquisition is to put together the research and
development activities of the two companies in order to increase the
prospects of producing future genetic products which are in line with
customer’s ever more sophisticated demands; demands which themselves are
driven by increasing economic, welfare and environmental pressures.
There will be no changes to interfaces with producers, who will continue
to be visited by their current contacts from Genus/ABS (cattle), PIC
(swine) and SyAqua (shrimp).
Richard Wood, CEO of Genus, says, “I am delighted we have been able to
complete the acquisition of Sygen, a company with a superb reputation,
both for its genetics products and the quality of its staff and the
service they provide.”
“I believe the acquisition is in the best long-term interests of
customers and staff of both companies, through providing continuity in
their day-to-day dealings with each other and participation in a larger
company. The combined company will be better placed to pursue research
and development objectives to meet future customer needs and to provide
enhanced employment opportunities for staff.”
Genus has acquired the entire share capital of Sygen at a cost
of approximately $325 million. The shares of the enhanced Genus
business will continue to trade on the Alternative Investment Market
(AIM).
The name Sygen will no longer be used, but Sygen’s trading
brands, PIC (swine) and SyAqua (shrimp) will continue unchanged. ABS
and PIC run operations throughout the world. SyAqua is a business that
breeds and rears warm water shrimp, with operations in Mexico, Brazil
and Thailand.
Headquartered in DeForest, Wisconsin, ABS Global is the world-leading
provider of bovine genetics, reproduction services, technologies and
uddercare products. Marketing in more than 70 countries around the
globe, ABS has been at the forefront of animal genetics and technology
since its founding in 1941. ABS Global is part of Genus Breeding, a
division of Genus plc.
