Swiss company Syngenta AG has completed a deal with China's chemical company China National Chemical Corp. (ChemChina).

"The company will seek to increase its share of the market of plant protection agents through internal business growth and the development of cooperation with third parties, considering targeted acquisitions to strengthen its seed business," Syngenta said in a press release.

The company after the merger with ChemChina plans to rank third among seed producers in the world.

According to Syngenta, in 2016 it occupied 20% of the world's market of plant protection agents, ranking first among the market leaders with the total sales of $9.6 billion in this direction. In the direction of seeds in 2016 Syngenta ranked third following Monsanto and DuPont with the sales of $2.7 billion.

"The key factors for the next stage of growth will be further expansion in emerging markets, in particular in China, the activation of digital agricultural offerings and ongoing investments in new technologies to increase crop yields while reducing carbon dioxide emissions and conserving water resources," Syngenta said.

Syngenta is one of the world's leaders in the field of plant protection products and seed production. The company employs over 27,800 people in 90 countries.