2009-10-13 08:18:02 -
London, October , 13, 2009
Ghent - Jakarta, October 13, 2009. Devgen nv (EURONEXT, Brussels:
DEVG) and PT (Persero) Sang Hyang Seri (SHS) today announce that 2
premium hybrid rice varieties, DG 1 SHS and DG 2 SHS have been
granted registration for commercial sale in Indonesia.
This result follows large scale trials of Devgen's pipeline of rice
hybrids in 10 locations across Indonesia. As part of the Devgen - PT
(Persero) Sang Hyang Seri research cooperation, these products have
been extensively evaluated a.o. for yield, disease resistance and
grain quality, all critical parameters for the Indonesian farmer.
Hybrid seed varieties DG 1 SHS and DG 2 SHS were approved by the
Indonesian Ministry of Agriculture in accordance with its stringent
standards for new rice hybrid varieties. The hybrid seeds will be
distributed in Indonesia by PT (Persero) Sang Hyang Seri under
Devgen's brand name Frontline. Product launch and first sales are
targeted as planned for late Q4 09/Q1 2010.
"The availability of hybrid rice products that are well adapted to
the local environment, that meet farmers' needs while providing a
good value proposition is a prerequisite to the effective
introduction of hybrid rice in Indonesia" says Devgen's CEO, Thierry
Bogaert "We are confident that DG 1 SHS, DG 2 SHS and other products
in our pipeline will mark a turning point for hybrid rice in
Indonesia."
"We are proud to have developed and registered these products
together with Devgen." says PT (Persero) Sang Hyang Seri's President
Director, Mr. Eddy Budiono "As per government guidance, we are
committed to provide the Indonesian farmer with hybrid rice products
that increase yield and productivity. These hybrid seeds are amongst
the best in the world. We will scale up the production to fulfill
Indonesia and export markets so that the world food supply is
increased as a result of using these high productivity seeds-which
also produce good taste rice"
About PT (Persero) Sang Hyang Seri
PT (Persero) Sang Hyang Seri is a government wholly owned company
dealing with seed, fertilizer and agrochemicals with offices and
farms across Indonesia.
About Devgen nv
Devgen's mission is to enable farmers to sustainably grow more food
on less land, with less water, agrochemicals and labour.
Devgen uses advanced biotechnology and molecular breeding technology
to make high yielding seeds and crop protection solutions with a
superior environmental profile.
Devgen brings this technology to the market in the world's major food
and feed crops through two complementary strategies:
- Licensing Devgen technology for use in corn, cotton and soy and
selected other crops in exchange for R&D funding, and milestone and
royalty payments.
- Producing and selling its premium hybrid seeds in major field
crops such as rice, sunflower, sorghum, and pearl millet, in the
Indian subcontinent and South-East Asia.
In its Crop Protection unit, Devgen developed and has taken to market
a novel nematicide, an agro-chemical product that protects crops from
damage by parasitic nematodes.
Incorporated in 1997, Devgen has offices in Ghent (Belgium),
Singapore, Hyderabad (India) and Delaware (US) and employs more than
200 people.
For more information please contact:
Thierry Bogaert, CEO Wim Goemaere, CFO
Tel. +32 9 324 24 24 Tel. +32 9 324 24 24
Thierry.Bogaert@devgen.com Wim.Goemaere@devgen.com
Or visit: www.devgen.com
This press release may contain forward-looking statements containing
the words "anticipates", "expects" , "intends", "plans", "estimates",
"may" and "continues" as well as similar expressions. Such forward
looking statements may involve known and unknown risks, uncertainties
and other factors which might cause the actual results, performance
or achievements of Devgen to be materially different from any future
results or achievements expressed or implied by such forward-looking
statements. Factors that could cause or contribute to such
differences include, among others: agricultural risks and
difficulties, including weather factors, diseases and pests, the
costs and requirements of regulatory compliance and the speed with
which approvals are received; public acceptance of biotechnology
products; political, economic and social developments in countries
where Devgen operates and other risks and factors detailed in the
company's most recent annual report.
These forward looking statements speak only as of the date of
publication of this document. Devgen disclaims any obligation to
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such statement is based, unless required by law or regulation. This
document does not constitute, or form part of, any offer or
invitation to sell or issue, or any solicitation of any offer, to
purchase or subscribe for any securities issued by Devgen NV.
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