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Syngenta boost sales, profit

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Tags: .biz

Agribusiness giant Syngenta enjoyed a 7 percent increase in sales and a 17 percent increase in net income in 2012.

The Switzerland-based company, which employs about 400 workers at its biotechnology research arm in Research Triangle Park and about 700 workers in Greensboro, reported Wednesday that sales for the year totaled $14.2 billion and net income was $1.9 billion. After adjusting for currency fluctuations, sales rose 10 percent last year.

The company also could match this year the $650 million it spent in 2012 on acquisitions, CEO Mike Mack told Bloomberg News.

"There's plenty of opportunities that we are continuing to pursue," he said.

Syngenta just completed construction of its $71 million, 147,000-square-foot expansion at RTP that includes high-tech greenhouses.

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About the blogger

David Ranii has been a business reporter at The News & Observer since 1993. Over the years he has covered information technology, banking, insurance, the pharmaceutical and biotechnology industries, media businesses and real estate. Contact him at 919-829-4877 or e-mail him.