Beijing, China
May 16, 2013
Agria Corporation (NYSE: GRO) (the "Company" or "Agria") today announced that Shenzhen NKY Seeds Co., Limited, a wholly-owned subsidiary of Agria, focused on edible corn seed business development has renewed its ten-year co-operation agreement with the Beijing Academy of Agriculture and Forestry Sciences ("BAAFS") to co-operate in the cultivation, demonstration, promotion and commercialization of new strains of edible corn seeds. Agria signed its first five-year co-operation agreement with BAAFS in 2008. Under this renewal agreement, BAAFS will continue to provide technology and research support for Agria in developing and breeding new strains of edible corn seeds through the year 2022.
Mr. Alan Lai, Agria's Executive Chairman of the Board, commented, "We are pleased to extend our cooperation with BAAFS. This cooperation befits our strategy in building on our modern agriculture capacity and is consistent with the national modern agriculture development policy promulgated by the Chinese government. By leveraging BAAFS's research and development capabilities, we are able to provide advanced edible corn seed production to our customers as well as advance our development of new corn seed strains. Working with BAAFS allows Agria to effectively commercialize new seed varieties further complementing our growth strategy [in China]. With strong R&D capabilities, growing sales and a strong distribution network, we look forward to broadening our leadership position in the corn seed market."
About Beijing Academy of Agriculture and Forestry Sciences (BAAFS)
Beijing Academy of Agriculture and Forestry Sciences (BAAFS) was established in 1958. It is the sole agricultural focused research institution led by the Beijing Municipal Government. After 50 years of development, BAAFS has grown into a comprehensive agricultural research institution with multiple disciplines, advanced equipment, high-level of scientific research and strong business development capabilities, with notable achievements in information technology in agriculture and research in crop cultivation.
About Agria Corporation
Agria Corporation (NYSE: GRO) is an international agricultural company with operations in China, South America, New Zealand and Australia. 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 proprietary field corn seeds, edible corn seeds, vegetable seeds, grass seeds and forage. Agria owns through Agria Asia a 50.22% equity interest in PGG Wrightson Limited, New Zealand's largest forage and 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.
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