US Monsanto on track to reach 2012 financial targets – CEO

08 December 2009 14:59  [Source: ICIS news]

LONDON (ICIS news)--Monsanto’s president and CEO Hugh Grant will tell investors on Tuesday that the company is on track to reach its 2012 financial commitments, the US agricultural and biotechnology major said.

Speaking at the Bank of America Merrill Lynch 2009 Global Industries Conference in New York, Grant was expected to say that preview yield results due to be released later at the American Seed Trade Association annual conference would be promising indicators for 2010 and the path toward 2012.

"What we are seeing in our yield results this year tells me we are off to a great start in reaching the goals we've set for our company," Grant will say, adding: "As farmers experience the superior performance and profitability on their farms we are confident they will be compelled to upgrade to our latest technology. And this technology upgrade will drive the mix improvement we expect to help us reach our 2012 objectives."

Monsanto said Grant would focus his remarks on the strength of the company's operational plan and the key elements expected to enable Monsanto to double 2007 gross profit in 2012.

"Our goals are ambitious but achievable," Grant was due to say, adding: "Our pipeline is at its most robust, holding great promise for years to come.

"We are continuing to see acceptance of biotechnology around the world, which will enable us to meet future demand. And this year marks the beginning of a wave of technologies that will each bring step changes in performance on farm."

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By: Franco Capaldo
+44 (0)20 8652 3214

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