Dive Brief:
- Syngenta blamed cold weather in North America for a 1% drop in profit during the first half of the year.
- The Swiss company, which is the largest manufacturer of agricultural chemicals on earth, said unseasonably cold weather delivered two blows to revenue by both delaying planting and reducing the need for herbicides.
- Growth in other markets around the globe were in keeping with the company's target of 6% for the full year.
Dive Insight:
The most interesting thing about Syngenta's earning these days is that they take place while rumors circulate that Monsanto, the giant U.S. seed and ag-chemical maker, is considering a merger with its Swiss rival.
Such a combination would transform the face of global agriculture. And it would also attract considerable concern in Washington, which is looking for ways to stop the use of such mergers by American companies to avoid taxes, a process known as inversion.