Devgen strengthens its Board of Directors
Devgen strengthens its Board of Directors
Ghent, Belgium, 1 June 2011 – Devgen (Euronext Brussels: DEVG) announces today that Van Herk Global Agri B.V., represented by Mr. Aat van Herk, and Mr. Wouter de Ruiter have been appointed members of the Board of Directors.
• Mr. Aat Van Herk has been an important shareholder of the company since the company was listed on Euronext in 2005 through its investment company O.G.B.B. A. van Herk. He brings valuable expertise to the board through his eminent track record as entrepreneur and investor in biotech companies.
• Mr. Wouter de Ruiter is through Madeli Participaties B.V. an important shareholder of Devgen nv. He obtained a degree as breeder at the University of Wageningen. He has built a career at the R&D department of the international seed company De Ruiter Seeds until short after it was purchased by Monsanto in 2008. He brings with him 20 years of experience in the seed industry.
Thierry Bogaert, Devgen's CEO and member of the Board of Directors and Remi Vermeiren, chairman of the Board welcome both Mr. van Herk and Mr. de Ruiter: "We are convinced their knowledge and many years of experience will contribute significantly to the Board and to the Company."
About Devgen nv
Devgen’s mission is to deliver the next green revolution in rice to growers that cultivate 60m ha rice in India and S.E. Asia.
Devgen uses advanced biotechnology and molecular breeding technology to develop the Next Generation Hybrid Rice (NGHR) and crop protection solutions with a superior environmental profile:
• Devgen developed the next generation of hybrid rice, improving yield, seed productivity, grain quality, and tolerance to biotic and abiotic stress factors. Devgen strongly believes that this hybrid rice technology has the potential to drive the accelerated conversion of varietal rice to hybrid rice.
• Anticipating the need to increase insect resistance and drought/heat tolerance in rice to a level that is beyond what can be achieved with classical breeding, Devgen created a portfolio of biotech traits using own technology as well as in-licensed technologies.
• Devgen established an integrated seed business in India and Southeast Asia through which its rice crops and technologies reach the market.
• In India, Devgen complemented its hybrid rice business with geographically and seasonally complementary crops: hybrid sorghum, pearl millet and sunflower.
• In its Crop Protection unit, Devgen develops a novel nematicide, an agro-chemical product that protects crops from damage by parasitic nematodes. This product is sold in Turkey and in the US.
• Devgen innovates in crop protection research and environment induced stress tolerance for its own crops and providing technology to corporate partners.
Incorporated in 1997, Devgen has offices in Ghent (Belgium), and has subsidiaries in Singapore, Hyderabad (India), Yogyakarta (Indonesia), General Santos (Philippines) and Delaware (US), totaling about 280 employees.
For more information:
Thierry Bogaert, CEO
Tel. +32 9 324 24 24
Thierry.Bogaert@devgen.com
Monika Van Den Haute, IR
Tel. +32 9 324 24 24
Monika.vandenhaute@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 update such forward looking statements in this document to reflect any change in its expectations, conditions or circumstances on which 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.