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Seminis Inc

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BUSINESS
May 31, 1999 | DEBORA VRANA, TIMES STAFF WRITER
With less-than-stellar performance recently by several first-time stock offerings from Internet firms, bankers are betting this week could be a good time to debut a deal by the world's largest producer of fruit and vegetable seeds. Seminis Inc., the Saticoy-based agricultural concern, is expected to sell a $215-million initial public offering, or IPO, through co-lead managers Goldman, Sachs & Co. and J.P. Morgan & Co. this week at $20 to $23 a share, bankers said.
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CALIFORNIA | LOCAL
March 7, 2000 | BARBARA MURPHY
Seminis Inc. in Saticoy, the world's largest developer, producer and marketer of vegetable seeds, says it will open a state-of-the-art seed processing, packaging and shipping plant in Oxnard as part of a new program designed to streamline operations, increase utilization of facilities and improve efficiency. The first phase of the plan focuses on North American operations. Besides opening the Oxnard facility this fiscal year, the company plans to expand its plant in Warden, Wash., by next year.
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CALIFORNIA | LOCAL
March 7, 2000 | BARBARA MURPHY
Seminis Inc. in Saticoy, the world's largest developer, producer and marketer of vegetable seeds, says it will open a state-of-the-art seed processing, packaging and shipping plant in Oxnard as part of a new program designed to streamline operations, increase utilization of facilities and improve efficiency. The first phase of the plan focuses on North American operations. Besides opening the Oxnard facility this fiscal year, the company plans to expand its plant in Warden, Wash., by next year.
BUSINESS
May 31, 1999 | DEBORA VRANA, TIMES STAFF WRITER
With less-than-stellar performance recently by several first-time stock offerings from Internet firms, bankers are betting this week could be a good time to debut a deal by the world's largest producer of fruit and vegetable seeds. Seminis Inc., the Saticoy-based agricultural concern, is expected to sell a $215-million initial public offering, or IPO, through co-lead managers Goldman, Sachs & Co. and J.P. Morgan & Co. this week at $20 to $23 a share, bankers said.
BUSINESS
August 22, 2000
* Savia, an insurance conglomerate based in Mexico, has appointed Eugenio Najera chief operating officer of its struggling seed unit, Seminis Inc., which is based in Oxnard. Najera, who has worked with Savia's chairman, Alfonso Romo, for more than two decades, will replace Alejandro Rodriguez. Savia also created a division, which Najera will head, that takes administrative charge of both Seminis and Savia's fresh produce and seed research unit, Bionova Holding Corp.
BUSINESS
July 1, 1999 | Bloomberg News
Among new and recent California public offerings Wednesday: * Camarillo-based Salem Communications Corp. (ticker: SALM), which operates religious radio stations, sold 8.4 million shares at $22.50, higher than the expected range of $19 to $21, in a deal led by Deutsche Banc Alex. Brown and ING Baring Furman Selz. Redwood City-based Clarent Corp. (CLRN), meanwhile, sold 4 million shares at $15, the top of its expected range, in a deal led by Credit Suisse First Boston. * Seminis Inc.
CALIFORNIA | LOCAL
March 20, 1999
Ventura resident Jim B. Lusk has died after a long battle with lung cancer. He was 59. Lusk, who died March 10, was born Dec. 9, 1939, in Fortuna and had been a Ventura County resident for 25 years. Lusk graduated from Fresno State University with a bachelor's degree in horticulture in 1965. He began his career as a technical projects administrator for Hunt-Wesson Foods before going to work in 1974 for Petoseed, a Saticoy seed company that is now part of Seminis Inc.
CALIFORNIA | LOCAL
August 8, 2000
Seminis Inc. in Oxnard reported sales of $114.4 million for the third quarter that ended June 30, 8.3% lower than the $124.7 million recorded during the same period in fiscal 1999. Net loss for the vegetable seed company was $21.6 million, or 36 cents a share, compared with a loss of $10.6 million, or 27 cents a share in the same period of 1999. Excluding a $25.9-million write-off for restructuring and other nonrecurring charges, the loss was 9 cents a share.
CALIFORNIA | LOCAL
November 23, 1999
Seminis Inc. in Saticoy reported that annual revenues increased by 24%, from $428.4 million to $530.6 million, from 1998 to 1999, while revenues for the fourth quarter ended Sept. 30 grew 9% over the same period last year. Net income for the fiscal year, before extraordinary items related to debt-refinancing costs, was $2.4 million or 5 cents per share, compared with $6.8 million or 21 cents per share in 1998. For the fourth quarter, net income before extraordinary items was $2.
BUSINESS
October 20, 2000 | Reuters
Vegetable seed marketer Seminis Inc. warned that it expects its fourth-quarter loss to widen from a year earlier, saying unfavorable market conditions shaved sales by about 24%. As a result of lower sales and noncash charges related to excess inventory, the company said it will report a significantly higher loss as compared to last fiscal year.
BUSINESS
December 14, 2002 | Melinda Fulmer, Times Staff Writer
Oxnard-based Seminis Inc., the world's largest seller of commercial fruit and vegetable seeds, said Friday that it would be bought out and taken private by units of Mexican agricultural firm Savia and San Francisco-based Fox Paine & Co. Seminis, which is traded on Nasdaq, said the deal was valued at $650 million in stock and debt, but did not specify details. Fox Paine would invest $222 million as part of the deal, said Andy Brimmer, an outside spokesman for the private equity firm.
BUSINESS
June 4, 1996 | BARBARA MURPHY
The State Compensation Insurance Fund Building at Oxnard Town Center will be the new corporate headquarters of Seminis Inc., the largest vegetable seed company in the world. Seminis, a majority-owned subsidiary of Empresas La Moderna S.A. de C.V. of Monterrey, Mexico, was formed through the merger of Petoseed of Saticoy, Asgrow Seed of Kalamazoo, Mich., and Royal Sluis B.V. of The Netherlands.
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