Monsanto Company (NYSE: MON) and DuPont (NYSE: DD) today
announced a multi-year dicamba supply agreement for the U.S. and
Canada. Terms of the agreement were not disclosed.
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“This agreement represents continued commitment to the Roundup
Ready® Xtend Crop System,” said Mike Frank, Monsanto vice
president, chief commercial officer. “Low-volatility dicamba
formulations with VaporGrip™ Technology are designed to give
soybean farmers additional tools to control glyphosate-resistant
and tough-to-control broadleaf weeds.”
“For several years, DuPont has been testing a solutions-based
approach to optimizing weed control using this novel soybean trait
and dicamba formulation technology,” said Tim Glenn, president,
DuPont Crop Protection. “We are seeing excellent results in
improved control of weed populations, including those resistant to
a number of herbicide modes of action. This advance will help
farmers manage weed competition while improving crop safety as they
work to increase production to meet global food demand.”
DuPont will sell its new herbicide as DuPont™ FeXapan™ herbicide
plus VaporGrip™ Technology.
Since 1967, dicamba has helped farmers manage broadleaf weeds,
which are a key pest in agricultural operations around the world,
limiting crop access to nutrients, sunlight and water. Various
dicamba formulations have been developed over time to help reduce
potential volatilization while delivering improved weed control and
greater application flexibility. Dicamba has a decades-long history
of effective use in the U.S. and 25 other countries in corn, wheat,
fallow and pasture land; on conservation tillage acres; and for
residential lawn care.
About Monsanto Company
Monsanto is committed to bringing a broad range of solutions to
help nourish our growing world. We produce seeds for fruits,
vegetables and key crops – such as corn, soybeans, and cotton –
that help farmers have better harvests while using water and other
important resources more efficiently. We work to find sustainable
solutions for soil health, help farmers use data to improve farming
practices and conserve natural resources, and provide crop
protection products to minimize damage from pests and disease.
Through programs and partnerships, we collaborate with farmers,
researchers, nonprofit organizations, universities and others to
help tackle some of the world’s biggest challenges. To learn more
about Monsanto, our commitments and our more than 20,000 dedicated
employees, please visit: discover.monsanto.com and monsanto.com.
Follow our business on Twitter® at twitter.com/MonsantoCo, on the
company blog, Beyond the Rows® at monsantoblog.com or subscribe to
our News Release RSS Feed.
About DuPont
DuPont (NYSE: DD) has been bringing world-class science and
engineering to the global marketplace in the form of innovative
products, materials and services since 1802. The company believes
that by collaborating with customers, governments, NGOs and thought
leaders we can help find solutions to such global challenges as
providing enough healthy food for people everywhere, decreasing
dependence on fossil fuels, and protecting life and the
environment. For additional information about DuPont and its
commitment to inclusive innovation, please visit
www.dupont.com.
Take Action
Take Action is an industry-wide partnership between university
weed scientists, major herbicide providers – including Monsanto and
DuPont – and organizations representing corn, cotton, sorghum,
soybean and wheat farmers to help them manage herbicide-resistant
weeds. The Take Action effort encourages you to develop a proactive
strategy to manage herbicide-resistant weeds that incorporates a
diverse set of controls. To find out more about how you can take
action, visit www.TakeActionOnWeeds.com or contact your local
extension office.
No dicamba herbicide product has been approved for commercial
in-crop use with Bollgard II® XtendFlex® cotton, XtendFlex® cotton
or Roundup Ready 2 Xtend® soybeans at this time. IT IS A VIOLATION
OF FEDERAL AND STATE LAW TO MAKE AN IN-CROP APPLICATION OF ANY
DICAMBA HERBICIDE PRODUCT ON Bollgard II® XtendFlex® cotton,
XtendFlex® cotton or Roundup Ready 2 Xtend® soybeans, OR ANY OTHER
PESTICIDE APPLICATION, UNLESS THE PRODUCT LABELING SPECIFICALLY
AUTHORIZES THE USE.
Monsanto 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 understanding and acceptance of
our biotechnology and other agricultural products; the success of
the company’s research and development activities; the outcomes of
major lawsuits; developments related to foreign currencies and
economies; the impact of exploring, responding to, entering into or
consummating potential acquisitions or other transactions and
proposals; fluctuations in commodity prices; compliance with
regulations affecting our manufacturing; the accuracy of the
company’s estimates related to distribution inventory levels; the
recent increases in and expected higher levels of indebtedness; 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, accidents, and security
breaches, including cybersecurity incidents, 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.
DuPont Forward-Looking Statements:
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain, such as statements about the
consummation of the proposed transaction and the anticipated
benefits thereof. Forward-looking statements are not guarantees of
future performance and are based on certain assumptions and
expectations of future events which may not be realized.
Forward-looking statements also involve risks and uncertainties,
many of which are beyond the company’s control. Some of the
important factors that could cause the company’s actual results to
differ materially from those projected in any such forward-looking
statements are: fluctuations in energy and raw material prices;
failure to develop and market new products and optimally manage
product life cycles; ability to respond to market acceptance,
rules, regulations and policies affecting products based on
biotechnology and, in general, for products for the agriculture
industry; outcome of significant litigation and environmental
matters, including realization of associated indemnification
assets, if any; failure to appropriately manage process safety and
product stewardship issues; changes in laws and regulations or
political conditions; global economic and capital markets
conditions, such as inflation, interest and currency exchange
rates; business or supply disruptions; security threats, such as
acts of sabotage, terrorism or war, natural disasters and weather
events and patterns which could affect demand as well as
availability of products for the agriculture industry; ability to
protect and enforce the company’s intellectual property rights;
successful integration of acquired businesses and separation of
underperforming or non-strategic assets or businesses; and risks
related to the agreement entered on December 11, 2015, with The Dow
Chemical Company pursuant to which the companies have agreed to
effect an all-stock merger of equals, including the completion of
the proposed transaction on anticipated terms and timing, the
ability to fully and timely realize the expected benefits of the
proposed transaction and risks related to the intended business
separations contemplated to occur after the completion of the
proposed transaction.
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version on businesswire.com: http://www.businesswire.com/news/home/20160707005223/en/
Monsanto CompanyKyel Richard, 314-694-4771orDuPont Crop
ProtectionKatie Meyer, 515-535-8034
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