Calgene Plans to Restructure, Sell 2 Interests : Biotech: The firm will put its alfalfa and corn interests on the block and downsize a potato venture.

Calgene is restructuring its operating businesses and will sell off interests in alfalfa and corn and downsize its joint venture in potatoes, the Davis, Calif.-based agricultural biotechnology company said.

The moves late last week will result in special one-time charges and losses from discontinued operations totaling $10 million to $12 million. The charges and losses will be included in Calgene’s results for fiscal 1991, which ended June 30.

The company will concentrate its continuing businesses on three core crops: tomato, cotton and canola.

Earlier in the week, Calgene asked the federal Food and Drug Administration for a ruling that would allow its genetically engineered tomato to be marketed without regulation.

The company said the decision to rid itself of its interest in alfalfa, acquired through its 1989 merger with Plant Genetics Institute, and its NobleBear corn seed operation was spurred by recent successes with other crops.

At the time of its $11-million merger, Calgene said it was interested in pursuing product lines being developed at Plant Genetics. But the merger primarily served to add extra bulk to Calgene when it went into the investment market for additional financing.

“The merger with PGI was a diversification of risk,” said Dan Wagster, Calgene’s chief financial officer. “We placed a number of bets but didn’t know which” would yield success, he added. “Now, we simply can’t afford to do all of them.”

NobleBear is one of two seed companies that Calgene purchased as part of its strategy to build distribution lines for its genetically engineered products, once they are approved.

Calgene also said that weather-related losses in its cottonseed operations will be primarily responsible for larger-than-anticipated losses from continuing operations for the fiscal year.