Bayer CropScience announced global name for its soybean business during annual ag-focused press conference.
The focus of a business going into the future offers insight into the priorities it will have. In September, Bayer CropScience held its annual press conference, where it made several announcements, including the name of its new global soybean brand — Credenz.
The company is focusing on a number of business areas for the future and announced one of the largest capital expenditures in its history — a $500 million plant to make Liberty herbicide in Alabama.
CEO Liam Condon outlined several key areas for the company, including the challenge of resistant weeds, a concentration on seeds and traits, a new focus on biological controls, continued work to discover and bring to market crop-protection compounds, and enhanced services for dealers and customers.
Credenz, which is the brand for the soybean business, is part of the company strategy in seeds and traits. Condon told media at the press event, “We have invested in seed acquisitions across Latin America. In the United States, we invested in HBK Seed for soybean development.”
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That soybean focus is more on the Southern U.S. and Latin America than the upper Midwest. Credenz soybeans will be for higher group numbers, geared to perform in warmer climates.
Rolling out Credenz
During a soybean presentation, Jorg Ellmanns, head of soybeans and corn and herbicides in crop strategy and portfolio management, explained that Credenz will enter the market as the Bayer soybean brand in 2014.
The Credenz soybeans headed to the Southern U.S. market in 2014 will carry the LibertyLink trait.
Bayer CropScience is working hard on other technology, as well. Ellmanns shared information on a new microbial gene that appears to be effective against all races of soybean cyst nematode.
“Proof of concept is an early phase in the development of a product,” he notes. “I would anticipate that technology to be available by 2024 or 2025.” Of course, he adds that the tech has to survive rigorous testing before it can come to market.