New growth strategy for CropScience

Bayer CropScience is committed to focusing on four key objectives: rejuvenating its core Crop Protection business; reinventing customer-centricity along the entire value chain (seed-to-shelf); refocusing its innovation through increased R&D investment; and extending the company’s BioScience business. This new strategy for future growth was outlined by Bayer CropScience CEO Sandra E. ­Peterson at the company’s Annual Press ­Conference in Monheim, Germany.

“Our entire organization is relentlessly focused on meeting the rapidly changing needs of a planet hungry for agricultural resources,” said ­Peterson. “We will continue to meet these needs only through our increased focus, improved efficiencies and accelerated innovation. Already, our efforts on these fronts are driving positive business results and momentum.”

Bayer CropScience is currently restructuring its Crop Protection business by phasing out older products, increasing its focus on key brand families, extending its geographic presence further into emerging markets and developing its supply chain operations to a position of industry leadership.

The company is also striving to leverage customer-centricity across the value chain to deliver solutions from seed to shelf. This involves increased grower orientation and improved channel management practices.

The third pillar of the strategy is refocusing innovation, with an increasing emphasis on the BioScience business unit (seeds and plant traits) and new growth areas in agrochemical research. Bayer CropScience intends to double the annual investment for research and development in this business unit by 2015.

Finally, BioScience plans to expand its leading positions in cotton, oilseed rape/canola and vegetable seeds. Bayer also intends to build significant positions in soybeans, rice and wheat.