Bayer to Invest EUR60 Million in Ukrainian Corn Seed Production Site
05 Aprile 2023 - 8:35AM
Dow Jones News
By Mauro Orru
Bayer AG will pour 60 million euros ($65.7 million) into new
equipment for its corn seed production facility in Pochuiky,
Ukraine, underscoring the significance of the country's
agricultural industry.
The German agricultural and pharmaceutical company said
Wednesday that the investment includes a new seed dryer,
agricultural field equipment, storage facilities and two new bomb
shelters.
The plant, inaugurated in 2018, has some 100 on-site employees
and about 250 to 300 seasonal workers. Bayer invested close to
EUR200 million prior to the war to establish corn seed
production.
The announcement comes after Bayer Head of Public Affairs,
Science and Sustainability Matthias Berninger attended a small
business delegation on a visit to Ukraine led by Robert Habeck,
German Vice-Chancellor and federal minister for Economic Affairs
and Climate Action.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
April 05, 2023 02:20 ET (06:20 GMT)
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