California’s Ceres Inc., an agricultural biotechnology company, announces the continued realignment of its business to focus on food and forage opportunities and biotechnology traits for sugarcane and other crops.
As part of the realignment, the company will restructure its Brazilian seed operations and is exploring discussions with additional local partners and collaborators to support the continued development and commercialization of its technology in Brazil.
Earlier this year, the company announced that due to the economic challenges faced by the Brazilian ethanol industry as well as changes in the global energy market, it had expanded the number of market opportunities available for its technology and products and began prioritizing its working capital in additional areas beyond Brazil. The company’s current restructuring plan is intended to further align expenditures toward improved forages for dairy and meat production and biotech traits for sugarcane and other crops.
More information is available here: http://investor.ceres.net/releasedetail.cfm?ReleaseID=918688
