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Agrimarketing : April 2009
Merck & Co., Inc. and Schering- Plough Corp. approve a definitive merger agreement under which the two companies will combine, under the nameMerck, in a stock and cash transaction. Under the terms of the agree- ment, Schering-Plough shareholders will receive 0.5767 shares and $10.50 in cash for each share of Schering- Plough. EachMerck share will auto- matically become a share of the combined company.Merck Chmn, Pres/CEO Richard T.Clark will lead the combined company. TheDowChemical Company reaches agreements with Rohmand Haas (RH) and certain of its shareholders that permit Dowto acquire RH. As part of the agreement, RH’s two largest shareholders will pur- chase $2.5 billion in face value of perpetual preferred equity issued by Dow. In addition, one of the share- holders, the Haas Family Trusts agrees at Dow’s option, they will make an investment in an additional $500 million of Dow’s equity. These equity investments sub- stantially reduce the debt financing required to fund the acquisition, Dow has restructured the transac- tion to essentially pay the equivalent of $63 per share in cash, and $15 per share in face value of preferred equi- ty securities. Case IH/New Holland launches Work EZ, a separate brand of short- line implements that will be shared by both companies. The black-painted implements include loaders, box blades, disc harrows, landscape rakes and rear blades. InsightFarm Principal Kelley Styring and market research firm C&R Research partner to create InsightFarm Innovation HotHouse, a new, more cost-effectivemethod for marketers to determine the potential success of their latest inno- vations. The multi-faceted, propri- etary system monitors and measures consumer awareness of new prod- ucts in the marketplace; measures a new introduction against key suc- cess criteria and cases in the sys- 8 Agri Marketing s April 2009 MARKETING INVESTMENTS TO JUMP In a recent conducted by AgriMarketing magazine on behalf of the American BusinessMedia’s (ABM) Agri-Council, reports 47% of agri-marketers reported their marketing budgets will be up in 2009, 30% reported they will be even with last year and 23% would be lower. “At a recent council planning meeting we were presented the results of a study that was conducted by B-to-B magazine,” said ABMAgri-Council Chairman Gary Vorpahl, Dir of Sls &Mktg, Hoard’s Dairyman. “That study found 29% of the general B-to-B marketers were planning to increase their budgets. The study,however,was conducted last October so the results may have changed since then. “Because of the relatively strong health of the ag economy,we thought the industry would find it of interest as to how it compares to the general marketplace,” Vorphal continued, “so we conducted this study which had very similar questions to that of B-to-B’s so they could be compared.” Of those planning to increase their budgets, 64% reported they were going to do so in online activities, 56% in print, 52% in direct mail and 48% in events (farm shows, seminars, etc.). Another indicator of the vitality of the ag industry, 83% of the respon- dents reported their organizations will be launching a new product/ service in 2009. “We also wanted to get a feel about how the companies and their agencies are dealing with the current environment,” said ABM’s CMO Mark Rothman. “So we asked ‘How would rate your relationship with your agency in terms of its willingness and capacity to tailor programs to fit your marketing communications goals?’ 63% reported excellent, 28% OK and 9% unacceptable.” For a copy of the complete copy of the survey, contactMark Rothman at firstname.lastname@example.org. AM tem’s database; and diagnoses how a new introduction can be more powerfully presented in the market. Alltech’s Co-Founder and Dir of Corporate Image and Design, Deirdre Lyons is selected by the Lexington, KY, chapter of the National Association of Women Business Owners as the 2009 recipient of theirWinners’ Circle Award. Lyons Monsanto completes regulatory submissions in the U.S. and Canada for the world’s first biotech drought- tolerant corn product developed together with BASF. The two companies are jointly contributing $1.5 billion over the life of the collaboration,which is aimed at developing higher-yielding crops and cropsmore tolerant to adverse envi- ronmental conditions such as drought. Georgia-Pacific Plant Nutrition names JonMixson as Nat’l Sales & MktgMgr. Hewaswith Bayer Crop Sciences. Blake Covert joins as Sls Agronomist for the western U.S. In addition to managing his fam- ily’s almond and walnut farm, he also was withWilbur-Ellis. Novus International appoints Dr. Joyce Cacho as Chief Sustainability Officer. Prior, she directed the agribusi- ness initiatives program of the Corporate Council on Africa. United Phosphorus Limited (UPL) purchases Evofarms, a major mar- keting company of generic products in the crop protection industry head- quartered in Bogota, Colombia. The share purchase includes all stocks, products registrations and all other property rights associated with the business of Evofarms. This is UPL’s third acquisition in the fiscal year following its acquisi-
May 2009 Supplement