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Damco renews Syngenta deal as takeover looms

THE HAGUE: March 08, 2016. Agricultural chemical company Syngenta, which is the subject of a US$43 billion purchase offer from ChemChina, has renewed its 4PL contract with Damco for global sea and airfreight shipments.

Damco syngentaDamco said the new agreement covers the sourcing, execution, monitoring and analyzing of logistics services in a single common platform to provide total visibility and supply chain optimization.

“We are building an industry-leading supply chain solution,” noted Marion Matthewman, head Global Logistics at Syngenta. “Damco [has] demonstrated their ability to become a strong business partner for Syngenta, and this new agreement will be a key enabler to help deliver our business objectives.”

Anthony Elwine, Damco’s global head of the company’s Chemical Vertical added: “We are familiar with the specific requirements and regulations that apply to logistics for the chemical industry, where most of the cargo is classified as ‘dangerous goods’. Combining that specific expertise with our 4PL capability created a perfect match with Syngenta’s requirements,” he declared.

Last month Syngenta announced that ChemChina had offered to acquire 100 percent of its outstanding capital for US$465 per share subject to regulatory approvals.

ChemChina, headquartered in Beijing, is China’s largest chemical corporation with production, R&D and marketing systems in 150 countries. The company specializes in materials science, life science, high-end manufacturing and basic chemicals. The proposed Syngenta acquisition adds to previous sector purchases in France, the UK, Israel, Italy and Germany.

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