Monsanto Acquires Seed Companies; Expands Agricultural Biotechnology Focus

In another step toward its goal of becoming a life sciences organization, Monsanto Company has reached agreements to acquire two seed companies -- DeKalb Genetics Corporation, headquartered in DeKalb, IL, and Delta & Pine Land Company, based in Scott, MS. Monsanto's life sciences strategy is designed to enhance the sustainable production of food and feed and create possibilities for better nutrition and health by drawing from the company's experience in agriculture, food and pharmaceuticals.

Through the new acquisitions, Monsanto Company hopes to broaden the availability of agronomic traits -- the first wave of traits developed through biotechnology -- and give more farmers around the world access to the yield and productivity benefits of crops enhanced through this technology. The acquisitions pave the way for the rapid introduction of a second wave of biotechnology traits, which improve the composition of fibers and the nutritional composition of food and feed, and offer food processors new tools to enhance the value of grains and oil seed crops.

DeKalb is a leader in agricultural genetics and a top hybrid seed corn company in the United States. It also has a strong presence in Latin America, plus seed interests in Europe and Southeast Asia. DeKalb currently offers its customers Monsanto traits for YieldGard insect-protected corn and Roundup Ready herbicide-tolerant corn.

Delta & Pine Land is a breeder, producer and marketer of cotton seed. It currently sells Monsanto's Bollgard and Ingard insect-protected cotton in the United States, Mexico, Australia and China, and Roundup Ready cotton in the United States. Regulatory approvals are pending to sell Bollgard in Argentina and South Africa.

"Monsanto has worked closely with DeKalb and Delta & Pine Land for a number of years to research new products and bring the economic and environmental benefits of agricultural biotechnology to growers worldwide," said Robert B. Shapiro, Monsanto's chairman and CEO. "These acquisitions focus and accelerate those efforts. The employees of both companies will play an important role in implementing our life sciences strategy and creating value for growers, processors, and, ultimately, consumers."

Edited by Beth Brindle