Blog Exposure - Chinese Agricultural Biotechnology Company Origin Agritech CEO Resigns; Company Suspends Office in North America
Stock Monitor: Adecoagro Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 05, 2017 / Active-Investors issued a free report on Origin Agritech Ltd (NASDAQ: SEED), which is readily accessible upon registration at www.active-investors.com/registration-sg/?symbol=SEED as the Company's latest news hit the wire. On December 01, 2017, the Company announced that William S. Niebur has resigned from his position of Chief Executive Officer and Director at the end of business on November 30, 2017. The Company has indicated that he would be pursuing other opportunities outside the Company post his resignation. Sign up now for our free research reports at:
www.active-investors.com/registration-sg
Active-Investors.com is currently working on the research report for Adecoagro S.A. (NYSE: AGRO), which also belongs to the Consumer Goods sector as the Company Origin Agritech. Do not miss out and become a member today for free to access this upcoming report at:
www.active-investors.com/registration-sg/?symbol=AGRO
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Origin Agritech most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:
www.active-investors.com/registration-sg/?symbol=SEED
The Company is in the process of identifying a suitable candidate as his successor and would be announcing the appointment of a new CEO soon. In the interim period, William would act as a strategic consultant to Origin Agritech and continue to assist the Company in managing its business. The Company thanked William for his significant contributions during his tenure as CEO.
In the same communication, the Company also announced the suspension of its representative office in North America located in Des Moines, Iowa. Origin Agritech plans to explore and identify new opportunities in US and manage the US-based business from its headquarters in Beijing, China.
About William S. Niebur
Dr. William Niebur joined Origin Agritech as President and CEO in April 2016. Prior to joining Origin Agritech, William was with DuPont Pioneer as Vice President and General Manager and led the Company's business in China, East Asia, and Oceania. William started his career as a corn geneticist in Princeton and went on to gain extensive global experience in R&D in Europe, and then returned to the US as DuPont's Global Vice President for R&D. He later moved to lead the Company's seed business. William was instrumental in integrating technologies into plant genetics programs and was granted several patents which led to the commercialization of over 30 branded products during his scientific career. William received the Bachelor of Science and Master of Sciences degrees from Iowa State University. He received his Doctorate in Plant Breeding and Cytogenetics from the University of Minnesota. In 2015, William was named as one of 50 people "Shaping the Future of the US-China Relationship" in the Pacific Power Index, publicized by Foreign Policy Group.
Recent Developments
The Company has been making changes in its business strategy and has reiterated that its primary focus will be China in the near-term. The Company recently completed the divestment of its China-based commercial corn seed production and distribution business to Beijing Shihui Agricultural Development (BSAD) and received the first instalment RMB 152 million in August 2017 with remaining two instalments - RMB 69 million was payable in November 2017 and the final payment of RMB 200 million is payable in December 2017. Origin Agritech has announced the sale of its corn seed business to BSAD for approximately $60 million in September 2016. The transaction received approval from the Company's shareholders in April 2017.
Origin Agritech which is a mainly an agricultural biotechnology trait and seed provider, has been diversifying its genetic and product portfolio with strategic collaborations. In January 2017, Origin Agritech signed a definitive agreement with DuPont Pioneer to gain access to non-GM corn seed products to expand its commercial seed products available in the US markets. In February 2017, the Company joined hands with Arcadia Biosciences, Inc., (NASDAQ:RKDA) for the export of key corn biotechnology product developed in China to the US markets. Origin Agritech discovered and developed this insect resistant corn seed trait in China and is looking to export this internationally for cultivation. Arcadia Biosciences is a California-based Company that develops and commercializes agricultural productivity traits and nutritional products.
About Origin Agritech Ltd
Beijing, China based Origin Agritech was founded in 1997 and is a leading agricultural biotechnology Company, specializing in crop seed breeding and genetic improvement. Origin Agritech has the distinction of developing phytase corn, the first transgenic corn to receive the Bio-Safety Certificate from China's Ministry of Agriculture. The Company has established a robust biotechnology seed pipeline including products with glyphosate tolerance and pest resistance (Bt) traits in recent years. The Company operates breeding stations across key crop-planting regions in China.
Stock Performance Snapshot
December 04, 2017 - At Monday's closing bell, Origin Agritech's stock tumbled 28.17%, ending the trading session at $0.85.
Volume traded for the day: 733.35 thousand shares, which was above the 3-month average volume of 81.88 thousand shares.
After yesterday's close, Origin Agritech's market cap was at $19.94 million.
The stock is part of the Consumer Goods sector, categorized under the Farm Products industry. This sector was up 0.4% at the end of the session.
Active-Investors:
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Active-Investors
