August 29, 2007 |
Federal regulators have turned down a request from Monsanto Co. to take action against dairy companies that advertise milk as free of synthetic hormones. The Federal Trade Commission said last week that the ads it reviewed did not make any misleading claims about the safety of recombinant bovine somatotropin, or rBST, a hormone that boosts milk production in cows.
April 5, 2007 |
Monsanto Co., the world's largest seed company, said a booming market for corn-based ethanol had fueled its corn seed sales and boosted profit 23% in its fiscal second quarter. Net income in the quarter ended Feb. 28 grew to $543 million, or 98 cents a share, from $440 million, or 80 cents, in the year-earlier period. Sales climbed 19% to $2.62 billion from $2.2 billion a year earlier on stronger sales of seeds in the U.S. and herbicide sales in Brazil, Europe, Africa and Argentina.
December 12, 2006 |
Chemical maker DuPont Co. is cutting 1,500 jobs as it restructures its agriculture and nutrition division, putting the $100 million it expects to save into its seed business, where it is in an increasingly tough battle with rival Monsanto Co. Monsanto has improved its dealer network, taking market share from DuPont's Pioneer Hi-Bred seed division in the important corn seed market. It is expected to continue to do so.
October 12, 2006 |
Monsanto Co.'s loss widened in its fiscal fourth quarter as higher sales of herbicides failed to offset lower sales of seeds and related products. The company also forecast profit for 2007 that was below what Wall Street had expected. Its shares fell 5.3%. The St. Louis-based herbicide and biotech seed producer said its loss totaled $144 million, or 27 cents a share, in the three months ended Aug. 31 compared with a loss of $125 million, or 23 cents, a year earlier. Revenue climbed 9% to $1.
August 16, 2006 |
Monsanto Co. on Tuesday said it agreed to buy Delta & Pine Land Co., the top U.S. seller of cottonseed, for $1.5 billion, putting aside a legal battle tied to the first attempt at a merger six years ago. Monsanto has targeted the cotton industry as a leading growth area for its genetic modification plant technology, which has largely been focused on soybeans and corn. The acquisition of Delta & Pine would give Monsanto a dominant position with well over 50% market share.
February 28, 2006 |
Monsanto Co. agreed to pay the University of California more than $100 million to settle the school's claim that the biotechnology company infringed on a patent related to a hormone that makes cows produce more milk. The university's Board of Regents and Monsanto announced the settlement Monday as the bovine growth hormone case was scheduled to go to trial. The suit was filed in 2004. Under the accord, St.