Monsanto to divest biogums, sweeteners

01 July 1999 20:37  [Source: ICIS news]

HOUSTON (CNI)--Monsanto on Thursday added its artificial sweetener and biogum businesses to its list of units up for sale, noting that these operations and its algins business posted combined sales of $1bn (Euro962m) last year.

The St Louis, Missouri-based life sciences company said it will use proceeds from the sale to pay down debt. It announced plans to divest algins earlier this year.

Monsanto's sweetener business includes the brand names Equal, Canderel and NutraSweet.

But Monsanto will keep other nutrition research activities representing the rest of its nutrition and consumer products division. The company said these activities continue to support its agricultural biotechnology and pharmaceutical businesses.

Monsanto said it wants this divestiture process to begin immediately and as quickly as possible.

Any deal will include sweetener manufacturing sites in Augusta, Georgia; Mt Prospect, Illinois; and, Gravelines, France. Biogum facilities include San Diego, California; Okmulgee, Oklahoma; and, Knowsley, UK.

By: Gary Taylor
+1 713 525 2653

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