Monsanto and Makhteshim Agan Announce Strategic Crop Protection Collaboration

19/10/2010

Crop Protection Leaders Bring Together Makhteshim Agan's Proven Molecules and Monsanto's Weed Management System

Weed management just got easier for farmers, as two global leaders joined forces with proven molecules that will help manage and reduce the risk of developing weed resistance. Today, Monsanto Company (NYSE: MON) and the Makhteshim Agan Group (TASE:MAIN) announced an agreement that makes Makhteshim Agan key partner of selected off-patent molecules to support Monsanto's Roundup Ready PLUS™ weed management platform.

"Makhteshim Agan is a global leader in crop protection, and they are well-positioned to serve as a reliable supplier of the off-patent molecules we'll use to enhance the Roundup Ready PLUS platform and help farmers manage weed resistance," said Mike Frank, Monsanto vice president crop protection. "This is a natural partnership, and it will enable us to achieve our goal -- effective and sustainable weed management for farmers."

Under the agreement, Monsanto will license their Roundup Ready PLUS trademark for use with select products from Makhteshim Agan, meaning farmers who use the quality Makhteshim Agan products will benefit from Roundup Ready PLUS programs such as Cotton Performance Plus. Those products, combined with glyphosate, offer multiple modes of action to combat weeds that have developed resistance to glyphosate. Used together, the multiple molecules also can reduce the risk of developing weed resistance.

"We have long admired Monsanto as a global leader in the new era of crop protection and we're pleased to announce this important collaboration, which underscores the breadth and quality of Makhteshim Agan's product portfolio," said Yoav Zeif, Makhteshim Agan Director global products and marketing. "This agreement is the result of a long-standing business partnership between our companies, as we share a goal of providing simple and smart crop protection solutions. It's good business for both of our companies, and excellent news for our customers."

Financial terms of the agreement were not disclosed.

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