SPENCER, Iowa -- After keeping locals in suspense for 10 days over the future of the Eaton manufacturing facility here after it was bought by an Indiana firm, it wasn’t the new owner of the 330,000 square foot building who broke the news. Instead, it was multinational agribusiness giant Syngenta that announced its partnership with Pivot Point Spencer, Inc., to manage a second seed distribution center for the company on the 63 acre site just outside Spencer’s city limits. Pivot Point also operates another center for Syngenta in Clinton, Illinois, just south of Bloomington.
Based in Basel, Switzerland, Syngenta AG is a global agribusiness company that produces agrochemicals and seeds. As a biotechnology company, it also conducts genomic research. Syngenta was formed in 2000 by the merger of Novartis Agribusiness and Zeneca Agrochemicals. The company employs 28,000 people in 90 nations.
The two distribution centers are designed to ensure supply is positioned in key growing areas for Syngenta corn and soy seed customers, said Clayton Osburn, Syngenta Manager of Corn Operations in North America.
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Pivot and Syngenta were moving in to the Spencer plant on Friday.
Syngenta’s press release noted Russ Wilkin to be the owner of Pivot Point. He is also involved with Western Iowa Associates, LLC,the owner of the former Eaton property.
The Spencer distribution center, which once operated with nearly 800 employees as a hydraulics plant for Eaton, had just seven on site in late May. The facility ramp-up is expected to bring 24 jobs to the local economy over the next three years.
Eaton listed the property with Cushman-Wakefield, for $3.3 million. Clay County records show the actual purchase price as $2.55 million.