Jim Blome, CEO of Bayer Crop Science which is based in RTP, says the proposed $62 billion acquisition of seed and crop science rival “will better equip us to tackle the agricultural challenges of the future today.”
In a video released by Bayer early Monday, Blome spells out what the company sees as the rationale for the deal.
Here’s a transcript of his comments:
“Our mission at Bayer is to develop solutions to provide a better life for people around the world – starting right here in the United States. We believe that this combination will better equip us to tackle the agricultural challenges of the future…today. Bayer has a long-standing commitment to farmers, to communities and to our country. We have a long standing history on American soil and we’re proud to have operations in 140 sites across 25 states. We want to remain a company that is recognized and trusted.
“Agricultural challenges It’s plain and simple. We don’t currently have the ability to meet the food supply the projected population will require. By 2050, the world’s population will grow to around 10 billion people, requiring the world’s farmers to produce 60 percent more food than we are currently producing. The strain on our own country’s food supply requires new thinking and the ability to use innovation to plan, prepare and solve resource challenges.
“I grew up on a family farm in Iowa and have spent my life connected to agriculture, so I feel personally connected to and committed to addressing our challenges. I firmly believe that a combined company of Bayer and Monsanto will help farmers and consumers produce and access healthy, safe and affordable food grown right here at home.
“Benefits for farmers Farmers would immediately benefit from a broad portfolio that provides products and tailor-made solutions across all crops – and we’ll see that right here in the United States.
“New U.S. operations
“As I mentioned, Bayer has been operating in the U.S. for over 150 years, and we’re proud of our ongoing commitment to be a trusted brand for farmers, consumers and communities alike. That’s why we’ll still continue to have a significant presence in the U.S. and particularly in Missouri and North Carolina.
“Bayer’s new global Seeds & Traits and North American commercial headquarters would be based in Missouri.
“The Digital Farming for the combined business would be based in California. We will also continue to have an important presence in North Carolina, as well as many other locations throughout the U.S.
“There is a clear need to advance farming and ensure a supply of healthy, safe and affordable food for the future. As the growth of the agricultural industry is driven by efforts to find more innovative products for farmers, we will focus on two things:
• Advancing Digital Farming to help farmers produce more crops; and
• Developing new solutions across Seeds, Traits and Crop Protection to help the next generation of farmers succeed.
“A combination with Monsanto would be an opportunity to build on our vision of being a leading Life Science company, providing innovative and science-based solutions for farmers, doctors, public health officials and consumers. We’ll continue on our business heritage in Pharmaceuticals, Consumer Health and, of course, Crop and Environmental Science.”