SOURCE: Agria Corporation

Agria Corporation

April 20, 2011 06:00 ET

New Zealand's Livestock Improvement Corporation Limited (LIC) Supports Agria Singapore's Partial Takeover Offer of PGG Wrightson Limited

BEIJING--(Marketwire - Apr 20, 2011) - Agria Corporation (NYSE: GRO) (the "Company" or "Agria"), a China-based company with investments in the agriculture sector, announced today that New Zealand-based Livestock Improvement Corporation Limited (LIC) has agreed to support Agria (Singapore) Pte Limited's partial takeover offer for PGG Wrightson Limited (PGW) by providing a loan to Agria (Singapore).

Agria is delighted to have received the support of such an important participant in the New Zealand agriculture industry for this transaction. Agria is particularly excited about the opportunity this presents to work together with LIC in the future in China.

About Livestock Improvement Corporation Limited (LIC)

LIC is a New Zealand co-operative enterprise, owned by transacting Dairy farmer members. LIC's core purpose is to help farmers become more efficient and profitable by genetically improving their animals, and by providing information, systems and technology that make it easier to farm. LIC has over 12,000 farmer customers in New Zealand and overseas, with full year 2010 sales of approximately NZ$136.0 million (approximately US$107.0 million). LIC employs the equivalent of approximately 600 full-time employees in New Zealand and over 1,700 in seasonal staff. LIC operates a dedicated, direct sales team of 75 staff in New Zealand, supported by a 45 seat national call center.

About Agria Corporation

Agria Corporation (NYSE: GRO) is a China-based company with investments in the agricultural sector. For more information about Agria Corporation, please visit www.agriacorp.com.

Safe Harbor Statement:

This announcement contains forward-looking statements. These statements 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.

Contact Information

  • Contacts:

    For Agria Corporation in China:
    John Layburn
    Acting CFO
    Chief Strategy and Compliance Officer
    China Tel: 86-10-8438 1031
    john.layburn@agriacorp.com

    For Agria Corporation in the U.S.:
    David Pasquale
    Senior Vice President
    U.S. Tel: +914-337-1117
    david.pasquale@agriacorp.com