2008 Accomplishments Provide Continuing Springboard for Growth in 2009 and
NEW YORK, June 5 /PRNewswire-FirstCall/ -- Monsanto's international seed brands serve as an ideal launching pad that positions the company for new launches of biotechnology traits with significant scale and ramp-up speed, Brett Begemann, Monsanto's executive vice president of global commercial, will tell investors today at the Merrill Lynch Agricultural Chemicals Conference in New York.
Begemann will cite the examples of Argentina and Brazil, where the company recently received separate regulatory approvals for corn biotechnology traits. In Argentina, Monsanto received the first-ever approval for a double-stack trait combination, YieldGard Corn Borer with Roundup Ready Corn 2, and plans to offer the combination on more than 1 million acres in its year of introduction. Likewise, Monsanto received planting approval for the YieldGard Corn Borer trait in Brazil and is planning for a 1 million to 2 million acre launch for the upcoming 2008-2009 season.
"If you combine the scale of our seed businesses in Argentina and Brazil with our proven ability to deliver traits, we're in the best competitive position to enter new trait markets quickly and with an immediate financial benefit," said Begemann. "These two approvals came a year ahead of our original plan, accelerating this opportunity and giving us what we believe is a significant first-mover advantage that translates to an enduring advantage in these new markets."
Begemann's comments will be part of a broader update on the company's
five-year growth plan, which targets doubling the company's 2007 gross
profit by 2012. With the company's third quarter just completed, Begemann
will indicate that the company's 2008 progress on its six identified growth
drivers continues to set the stage for further growth in 2009 and beyond.
Monsanto will report its third-quarter earnings on
|SOURCE Monsanto Company|
Copyright©2008 PR Newswire.
All rights reserved