LUDWIGSHAFEN, Germany and ST. LOUIS, June 23 /PRNewswire-FirstCall/ --
BASF SE (DAX: BAS) and Monsanto Company (NYSE: MON) have signed an
exclusive agreement for a new fungicide seed treatment solution for
soybeans in the United States. The new product contains BASF's top-selling
fungicide F 500(R), the same active ingredient found in Headline(R)
fungicide with its disease control and plant health benefits. The
treatment, which is expected to be commercialized in conjunction with the
launch of Monsanto's Roundup Ready 2 Yield(TM) soybean seed offering, will
provide soybean farmers with early-season disease protection which results
in improved stand and extra vitality.
"We're pleased to be partnering with BASF to deliver new seed-based
technology to soybean farmers," said Carl Casale, executive vice president
for Monsanto. "We feel the product will be the best seed treatment
fungicide available to complement our new Roundup Ready 2 Yield soybean
offering. In today's demand-driven agriculture landscape, seed treatments
are a natural fit in maximizing the realizable yield from seed and traits
that are so important to farmers."
"We're happy that U.S. soybean growers will have access to this
exciting new product from our Seed Solutions pipeline in the 2009 growing
season," said Markus Heldt, head of BASF's Crop Protection business in
North America. "This fungicide seed treatment is the first in this new
generation of BASF seed treatment products that the company plans to launch
globally over the next couple of years, and it is the perfect complement to
Headline(R) fungicide to get seedlings off to a strong start," he added.
Under the agreement, Monsanto will have exclusive rights to
commercialize the new fungicide seed treatment in soybeans. Additional
details of the agreement were not disclosed.
Since building up its seed treatment research facilities four years
ago, BASF scientists have focused on bringing new active ingredients with
proven disease control and other early-growth plant health benefits to seed
partners and ultimately to the grower.
Earlier this year, Monsanto announced that it was establishing a global
seed treatment platform focused on identifying new proprietary seed-based
technologies that can be launched in parallel with its higher-yielding
soybean, corn and cotton seed and traits offerings.
In 2009, Monsanto plans a controlled commercial release of Roundup
Ready 2 Yield soybeans that will be treated with a proprietary treatment
containing F 500. Roundup Ready 2 Yield soybeans are the second generation
of Monsanto Roundup Ready soybean technology that will deliver top-end
yield potential, helping farmers meet the growing global food and fuel
demands.
About BASF
BASF is the world's leading chemical company: The Chemical Company. Its
portfolio ranges from oil and gas to chemicals, plastics, performance
products, agricultural products and fine chemicals. As a reliable partner
BASF helps its customers in virtually all industries to be more successful.
With its high-value products and intelligent solutions, BASF plays an
important role in finding answers to global challenges such as climate
protection, energy efficiency, nutrition and mobility. BASF has more than
95,000 employees and posted sales of almost euro 58 billion in 2007. BASF
shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA)
and Zurich (AN). Further information on BASF is available on the Internet
at http://www.basf.com.
About Monsanto
Monsanto Company is a leading global provider of technology-based
solutions and agricultural products that improve farm productivity and food
quality. For more information on Monsanto, see: http://www.monsanto.com/.
Cautionary Statements Regarding Forward-Looking Information:
Certain statements contained in this release are "forward-looking
statements," such as statements concerning the company's anticipated
financial results, current and future product performance, regulatory
approvals, business and financial plans and other non-historical facts.
These statements are based on current expectations and currently available
information. However, since these statements are based on factors that
involve risks and uncertainties, the company's actual performance and
results may differ materially from those described or implied by such
forward-looking statements. Factors that could cause or contribute to such
differences include, among others: continued competition in seeds, traits
and agricultural chemicals; the company's exposure to various
contingencies, including those related to intellectual property protection,
regulatory compliance and the speed with which approvals are received, and
public acceptance of biotechnology products; the success of the company's
research and development activities; the outcomes of major lawsuits;
developments related to foreign currencies and economies; successful
operation of recent acquisitions; fluctuations in commodity prices;
compliance with regulations affecting our manufacturing; the accuracy of
the company's estimates related to distribution inventory levels; the
company's ability to fund its short-term financing needs and to obtain
payment for the products that it sells; the effect of weather conditions,
natural disasters and accidents on the agriculture business or the
company's facilities; and other risks and factors detailed in the company's
most recent periodic report to the SEC. Undue reliance should not be placed
on these forward-looking statements, which are current only as of the date
of this release. The company disclaims any current intention or obligation
to update any forward-looking statements or any of the factors that may
affect actual results.
Note to editor: Roundup Ready and Roundup Ready 2 Yield are trademarks
of Monsanto Company and its wholly owned subsidiaries. Headline and F 500
are registered trademarks of BASF.
SOURCE Monsanto Company
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Related links:
http://www.monsanto.com
http://www.basf.com
http://www.prnewswire.com/comp/114341.html /
CONTACT:
Danielle Jany of Monsanto Company,
+1-314-694-2478; or Pat Morrow of BASF SE (North America),
+1-704-756-5798; or Annette Pohl of BASF SE (Global),
+49-621-28691
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