St. Louis, Missouri
June 28, 2007
Monsanto's Board of Directors has approved a three-year,
$610 million capital investment for the company's U.S. corn
production facilities. The investment plan includes expansions
at nine existing corn production facilities, as well as two
sites in the heart of the Corn Belt. This represents the largest
reinvestment that Monsanto has made in its history as an ag
company. Additional details related to the expansion have not
been disclosed at this time.
Additionally, Monsanto posted projected trait acreage for 2007.
Final numbers for 2007 will be released this fall.
http://www.monsanto.com/monsanto/content/investor/financial/reports/2007/Q32007Acreage.pdf
Also as part of today's announcement, the company revised
projections for future adoption of corn trait technologies by
U.S. farmers. The company now estimates that:
- Glyphosate-tolerant corn
has the potential to be grown on 80 million acres, up from
its previous projection of 60 million acres;
- Corn borer insect
protection has the potential to be grown on 60 to 70 million
acres, up from its previously announced range of 50 to 60
million acres; and
- Rootworm insect protection
and triple-trait corn technology now have the potential to
be grown on 45 million acres, up from its previously
announced range of 25 to 30 million acres.
Monsanto Company is a leading provider of technology-based
solutions and agricultural products that improve farm
productivity and food quality. |
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