14-09-2014, 05:44 AM
http://www.prnewswire.com/news-releases/...75902.html
ST. LOUIS, June 29 /PRNewswire/ -- Monsanto Company (NYSE: MTC) and
Cargill, Incorporated, announced today that they have signed a definitive
agreement for Monsanto to purchase Cargill's international seed operations in
Central and Latin America, Europe, Asia and Africa for $1.4 billion.
The acquisition includes seed research, production and testing facilities
in 24 countries and sales and distribution operations in 51 countries in the
five regions. Cargill's international seed businesses specialize in the
development and marketing of corn, sunflower and rapeseed seeds and also
market soybean, alfalfa, sorghum, wheat and hybrid rice seed in these markets.
The acquisition does not include Cargill's seed operations in the United
States and Canada or Cargill Agricultural Merchants in the United Kingdom.
"The potential for our existing biotechnology traits outside North America
is roughly double the acreage potential within North America. The Cargill
international seed businesses give us quicker access to these global markets.
We can accelerate commercialization through established distribution channels
that will bring these and our future agronomic and quality traits to more
farmers around the world in the varieties they want to grow," said Monsanto
President Hendrik A. Verfaillie.
"The biotechnology revolution is rapidly changing the international seed
industry, and Monsanto has been a key player in this arena," said Ernest S.
Micek, Cargill chairman and chief executive officer. "This agreement combines
Cargill's excellent germplasm and international research, marketing and
distribution network with Monsanto's leadership in biotechnology."
Monsanto and Cargill expect that Cargill businesses in Central and Latin
America, Europe, Asia and Africa will continue to market Cargill seeds.
Cargill is a leading global producer of tropical corn seed and germplasm
with significant sales in the Central and Latin American, Asian and African
markets. It has a leading position in oilseeds globally and is one of the few
seed companies with a long-standing presence in Asia and Central and Latin
America. Its international seed business employs approximately 2,200 people.
The sale of Cargill's seed businesses in Central and Latin America,
Europe, Asia and Africa follows an earlier agreement between Monsanto and
Cargill to form a global joint venture to create and market products improved
through biotechnology for the grain processing and animal feed markets. In
addition to this initial agreement, Monsanto and Cargill are exploring future
opportunities to expand their partnership into other areas of agriculture and
food.
Monsanto is a life sciences company, committed to finding solutions to the
growing global needs for food and health by applying advanced bioscience and
biotechnology to agriculture, nutrition and health. It makes and manufactures
high-value agricultural products, pharmaceuticals and food ingredients.
Cargill, based in Minneapolis, Minn., is an international marketer,
processor and distributor of agricultural, food, financial and industrial
products with nearly 79,000 employees in more than 1,000 locations in 72
countries and with business activities in 100 more.
SOURCE Monsanto Company
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ST. LOUIS, June 29 /PRNewswire/ -- Monsanto Company (NYSE: MTC) and
Cargill, Incorporated, announced today that they have signed a definitive
agreement for Monsanto to purchase Cargill's international seed operations in
Central and Latin America, Europe, Asia and Africa for $1.4 billion.
The acquisition includes seed research, production and testing facilities
in 24 countries and sales and distribution operations in 51 countries in the
five regions. Cargill's international seed businesses specialize in the
development and marketing of corn, sunflower and rapeseed seeds and also
market soybean, alfalfa, sorghum, wheat and hybrid rice seed in these markets.
The acquisition does not include Cargill's seed operations in the United
States and Canada or Cargill Agricultural Merchants in the United Kingdom.
"The potential for our existing biotechnology traits outside North America
is roughly double the acreage potential within North America. The Cargill
international seed businesses give us quicker access to these global markets.
We can accelerate commercialization through established distribution channels
that will bring these and our future agronomic and quality traits to more
farmers around the world in the varieties they want to grow," said Monsanto
President Hendrik A. Verfaillie.
"The biotechnology revolution is rapidly changing the international seed
industry, and Monsanto has been a key player in this arena," said Ernest S.
Micek, Cargill chairman and chief executive officer. "This agreement combines
Cargill's excellent germplasm and international research, marketing and
distribution network with Monsanto's leadership in biotechnology."
Monsanto and Cargill expect that Cargill businesses in Central and Latin
America, Europe, Asia and Africa will continue to market Cargill seeds.
Cargill is a leading global producer of tropical corn seed and germplasm
with significant sales in the Central and Latin American, Asian and African
markets. It has a leading position in oilseeds globally and is one of the few
seed companies with a long-standing presence in Asia and Central and Latin
America. Its international seed business employs approximately 2,200 people.
The sale of Cargill's seed businesses in Central and Latin America,
Europe, Asia and Africa follows an earlier agreement between Monsanto and
Cargill to form a global joint venture to create and market products improved
through biotechnology for the grain processing and animal feed markets. In
addition to this initial agreement, Monsanto and Cargill are exploring future
opportunities to expand their partnership into other areas of agriculture and
food.
Monsanto is a life sciences company, committed to finding solutions to the
growing global needs for food and health by applying advanced bioscience and
biotechnology to agriculture, nutrition and health. It makes and manufactures
high-value agricultural products, pharmaceuticals and food ingredients.
Cargill, based in Minneapolis, Minn., is an international marketer,
processor and distributor of agricultural, food, financial and industrial
products with nearly 79,000 employees in more than 1,000 locations in 72
countries and with business activities in 100 more.
SOURCE Monsanto Company
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