COALDALE, AB, Oct. 3, 2024 /CNW/ - Bayer CropScience Inc. (Bayer) is excited to announce it will be acquiring a canola treating and packaging facility located in Coaldale, AB from HyTech Production Ltd. with an anticipated closing date of November 1.

"As Bayer continues increasing its canola business, we have been exploring ways to enhance the processes and assets that contribute to this important crop," says Antoine Bernet, President and CEO, 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."

HyTech Production Ltd. will retain its other assets and full hybrid seed production capabilities to continue serving and strengthening partnerships with existing customers, while expanding opportunities with new ones. "Committed to growth and anchored in quality and reliability, HyTech aims to enhance its offerings and explore innovative avenues in seed production, ensuring long-term value for its loyal customers and seed growers," says Cameron Van Roon, co-CEO, HyTech Ltd.

Bayer currently uses third-party tollers, including HyTech for canola treating and packaging, and will continue to use a multi-faceted approach moving forward. This acquisition will enable a more seamless transition from Bayer's Canola Parent Seed Production Site in Cranbrook, BC and its Seed Cleaning Facility in Lethbridge, AB.

"By optimizing our canola production process, Bayer can enhance service and supply of canola hybrids for customers," says Bernet. "We'll have more visibility and control over the seed from production to packaging, which directly benefits the farmers who use our seed."

Subject to all closing requirements being met, the acquisition will close on November 1, at which time facility ownership will transfer to Bayer and the company will welcome the HyTech employees who currently work in the treatment and packaging facility.

About Bayer
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. In line with its mission, "Health for all, Hunger for none," the company's products and services are designed to help people and the planet thrive by supporting efforts to master the major challenges presented by a growing and aging global population. Bayer is committed to driving sustainable development and generating a positive impact with its businesses. At the same time, the Group aims to increase its earning power and create value through innovation and growth. The Bayer brand stands for trust, reliability, and quality throughout the world. In fiscal 2023, the Group employed around 100,000 people and had sales of 47.6 billion euros. R&D expenses before special items amounted to 5.8 billion euros. For more information, go to www.bayer.ca.

SOURCE Bayer Inc.