See offer
Return to News Categories

ALL NEWS SECTIONS:
MOST POPULAR SECTIONS:
Cattle - Hogs / Livestock News Currencies News Energy News Grain News Index News Interest Futures News Metals Futures News Reports: Crops, CFTC, etc Soft Commodities News

Futures and Commodity Market News

Promoting innovation and climate action in agriculture: European Investment Bank provides a EUR200 million loan to KWS SAAT

Jun 29, 2020 (MENAFN via COMTEX) --

(MENAFN - EQS Group) Funds to be used by German seed company for research and development

The European Investment Bank (EIB) is providing a EUR200 million loan to KWS SAAT SE & Co. KGaA, a leading international seed producer based in Germany. KWS uses cutting-edge plant breeding and seed production methods to maximise yields and improve the resilience of plants to diseases, pests and abiotic stresses, such as extreme weather caused by climate change. It has one of the broadest seed portfolios in the industry, comprising 11 of the 13 most important crops, including maize, sugar beet, wheat, rye, rapeseed and vegetables.

The funds provided by the EU bank are to be used by KWS for research and development in the EU. Like KWS, the EIB hopes that these funds will make a valuable contribution to the objectives of the European Green Deal, and in particular the Farm to Fork strategy developed by the European Commission.

The EIB Vice-President responsible for innovation and for operations in Germany, Ambroise Fayolle, said: "Innovation in new seed varieties is vitally important if we want to ensure agricultural productivity under changing agro-climatic conditions. The only way we will be able to select plants that can withstand changing abiotic and biotic stresses and use nutrients and water from the soil more efficiently is through targeted research. The development of improved, not genetically modified varieties of agricultural crops helps reduce the use of pesticides and fertilisers and significantly contributes to sustainable agriculture. As the EU Climate Bank, we are strongly committed to finance mitigation, adaptation and many other relevant climate related projects. I therefore very much welcome this partnership with KWS to promote the production of new seed varieties for the European market."

KWS's CFO Eva Kienle added: "We are delighted with the European Investment Bank's strong commitment to innovation and climate action in agriculture. A major joint effort is required to respond to the challenges of climate change and climate action in agriculture. As a leading plant breeding company, we invest around EUR200 million a year in research and development to provide farmers with continuously innovative seed varieties. The attractive conditions of the EIB loan will help us optimise our financing structure even further."

Background information

EIB
The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.


KWS
KWS is a leading international plant breeding company. With over 5 500 employees across 70 countries, it recorded a turnover of EUR1.1 billion and achieved earnings before interest and taxes (EBIT) of EUR150 million in the 2018/2019 financial year. KWS is an independent family-owned business that was founded 160 years ago. Its core business is plant breeding and the production and sale of maize, sugar beet, wheat, vegetable and sunflower seeds and rapeseed. KWS uses cutting-edge plant breeding methods to maximise yields and improve the resilience of plants to diseases, pests and abiotic stresses. To help achieve this objective, it invested around EUR200 million in research and development in the last financial year.
For more information: www.kws.com . Follow us on Twitter(R) at https://twitter.com/KWS_Group .

Press contacts:

KWS
Peter Vogt
, Head of Investor Relations, tel.: +49-30 816914-490,

Sina Barnkothe , Corporate Communications, tel.: +49-5561 311-1783,

EIB
Christof Roche , , tel.: +352 43 79 89013, mobile: +32 479 65 05 88
Website: www.eib.org/press - Press Office: +352 4379 21000 -

/ / / / / /


MENAFN29062020007010666ID1100404944

comtex tracking

Please read the End User Agreement.
By accessing this page, you agree to the terms and conditions of the End User Agreement.

News provided by COMTEX.


Extreme Futures: Movers & Shakers

Hottest

Actives

Gainers

Today's Hottest Futures
Market Last Vol % Chg
Loading...

close_icon
open_icon