LONDON, Feb. 5, 2014 /PRNewswire/ -- In a full year-results video interview, Syngenta Chief Executive Mike Mack reveals that the company grew integrated sales 6% during 2013. He also announces a major cost efficiency programme:
"The cost is $900m and it will deliver benefits of $1bn per year of annualised cost savings... It's going to be targeted in three areas, the first is production, the second is in research and development and thirdly, perhaps most importantly, our customer-facing operations."
Mr. Mack explores the implications that declining soft commodity prices and volatility in emerging market currencies will have on his business in the year ahead:
"Currency is on everybody's mind and the volatility is a worry, but Syngenta has had a lot of exposure and experience over the past 13 years in dealing with this, we've got some terrific risk management programs that have actually helped us grow our business in some of these emerging markets."Looking ahead he re predicts that 2014 will see "sales growing at a similar rate to 2013" and he reiterates the $25bn sales target for 2020. The interview and transcript are available now on http://video.merchantcantos.com. MerchantCantos produces in-depth interviews, documentaries and webcasts with senior company executives. If you would like to contact us, please email email@example.com or phone 44 207 936 1352. SOURCE Syngenta
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts