Swiss Syngenta to pay $105m to settle herbicide litigation in US

25 May 2012 08:27  [Source: ICIS news]

SINGAPORE (ICIS)--Swiss agrochemicals firm Syngenta said on Friday it has agreed to pay $105m (€84M) to settle litigation involving water utilities in the US related to the herbicide atrazine.

“Syngenta and attorneys for several community water systems have agreed to settle litigation related to the herbicide atrazine in order to end the business uncertainty and expense of protracted legal proceedings,” the company said in a statement.

The total cost of the settlement will be charged to Syngenta’s income statement in 2012, it said.

The charge is partly covered by provisions and the impact on earnings will be about $0.5 per share, the company said.

“Syngenta will continue to market atrazine as part of its comprehensive corn herbicide portfolio enabling US growers to achieve optimal weed control,” it added.

($1 = €0.80)

By: Nurluqman Suratman

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