BEIJING--(Marketwire - Feb 18, 2013) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria") today announced that the seeds division of its majority-owned subsidiary, PGG Wrightson Limited ("PGW Seeds"), has completed the contracting process for a Primary Growth Partnership program (the "PGP Program") with the New Zealand Ministry for Primary Industries. PGW Seeds is spearheading the PGP Program with Grasslanz Technology Limited, a New Zealand government-owned company engaged in science and research, to deliver innovative forages for New Zealand farms. The PGP Program is valued at NZ$14.6 million, with government PGP funding contributing NZ$7.15 million over six years.
The seed and nutritional technology development PGP Program aims to develop new technologies that improve animal productivity and animal health, while overcoming adverse environmental impact. It consists of five projects focused on the development and adoption of technologies that provide benefits to New Zealand's pastoral sector through:
- more reliable and faster pasture establishment;
- increased pasture productivity and persistence through reducing the impact of pests and diseases;
- improved animal health and animal productivity;
- lower greenhouse gas emissions; and
- reduced susceptibility to summer drought stress.
The PGP program is expected to provide farmers with technologies for improved productivity and profitability across regions and farming systems where pasture renewal occurs. Information sharing and closer linkage with other Primary Growth Partnership initiatives, particularly around the adoption of new technologies by farmers, may provide additional benefits.
About Agria Corporation
Agria Corporation (NYSE: GRO) is an agricultural company with operations in China and internationally. Agria operates three principal business lines: China seeds, international seeds and agriservices. In China, Agria engages in research and development, production and sale of seed products, including field corn seeds, edible corn seeds and vegetable seeds. Agria owns through Agria Asia a 50.22% equity interest in PGG Wrightson Limited, New Zealand's largest agricultural services company. For more information about PGG Wrightson Limited, please visit www.pggwrightson.co.nz. For more information about Agria Corporation, please visit www.agriacorp.com.
Safe Harbor Statement:
This announcement contains forward-looking statements. These statements, including the management's commentary, are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Agria may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on Forms 20-F and 6-K, etc., in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Agria's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, those risks outlined in Agria's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this announcement unless otherwise stated and Agria does not undertake any obligation to update any forward-looking statement, except as required under applicable law.