Job losses not expected in Bayer buyout of HyTech Production
By Medicine Hat News on October 5, 2024.
@MedicineHatNews Bayer is buying a canola treating and packaging plant in Coaldale, the agri-food giant announced on Thursday, while former owner HyTech Production will continue developing and distributing hybrid seed types. The deal involves the transfer of the three-year-old cleaning plant to Bayer which has a parent seed production site in Cranbrook, B.C. and a seed cleaning facility in Lethbridge. The terms of the transaction, which closes on Nov. 1, were not disclosed, but no job losses are expected, according to a Bayer release. “As Bayer continues increasing its canola business, we have been exploring ways to enhance the processes and assets that contribute to this important crop,” said Antoine Bernet, the president of Bayer CropScience Inc. “With an expected increase in canola volume, the facility is perfectly located and designed to support Bayer’s Canola business today as well as enable future growth.” A statement from HyTech thanked staff and partners, stating it would retain its other assets and full hybrid seed production capabilities to continue serving existing customers and explore new opportunities. “The decision to sell our treating and packaging operation allows us to focus on hybrid seed production, the core function of our business since founding in 1998,” said HyTech co-CEO Cam Van Roon. ” For our breeder/distributor customers and producer partners we will continue to lead innovation in hybrid canola seed production and pursue opportunities in other hybrid crop kinds.” Bayer will continue using third-party tollers, including HyTech, for canola treating and packaging, it said. 10-9
