Monsanto Company today announced its intent to divest its artificial sweetener business - including Equal and Canderel brand tabletop sweeteners, NutraSweet brand sweetener and neotame sweetener technology - and its biogum business. Earlier this year, the company announced plans to sell its algins food ingredients business. In 1998, these businesses had combined sales of $1 billion.

Proceeds from the sales of these businesses will be used to pay down debt.

Monsanto will retain the other nutrition research activities that represent the rest of its Nutrition and Consumer Products Division. These remaining activities will continue to link the company's agricultural biotechnology and pharmaceutical businesses in the search for nutritionally based health products.

The divestiture process will begin immediately and be completed as quickly as possible. There will be no interruption of service to customers during this process. Monsanto's sweeteners are manufactured at sites in Augusta, Georgia; Mt. Prospect, Illinois; and Gravelines, France; and its biogums are made at manufacturing locations in San Diego; Okmulgee, Oklahoma; and Knowsley, England. These facilities will be included in the transaction. Approximately 2,100 employees are involved in the manufacture, sale and administration of these products worldwide.

This divestiture is part of a restructuring plan announced by Monsanto in November 1998 that includes selling businesses that are not core to its long-term strategy. Since that time, the company has announced its intent to sell Stoneville Pedigreed Seed Co., and its algins business, and has completed divestitures of the Ortho lawn-and-garden business, NSC Technologies and the Wellbridge health and fitness business.

Monsanto is a life sciences company, committed to finding solutions to the growing global needs for food and health by sharing common forms of science and technology among agriculture, nutrition and health. The company's 30,600 employees worldwide research, make and market high-value agricultural products, pharmaceuticals and nutrition-based health products.

Company news release
N1908