Monsanto Company (NYSE: MON) and FMC Corporation (NYSE: FMC) today announced an agreement that broadens Monsanto's Roundup Ready PLUS™ weed management platform in the United States to include selected FMC products.
FMC herbicides covered under the agreement include the growing line of soybean preemergence residual herbicides including Authority® First DF, Authority® MTZ DF, Authority® XL, and Authority® Assist.
Earlier this week, Monsanto announced the Roundup Ready PLUS platform, which allows farmers to increase the benefits of their Roundup Ready® crops by using the best practice recommendations for weed management and receiving financial incentives for following the program. Roundup Ready PLUS is designed to provide effective and sustainable weed control benefits for farmers.
Today's agreement will make the FMC Authority® brand line-up of soybean herbicides key elements of the Roundup Ready PLUS platform under the Residual Rewards(SM) program and incentives for soybean growers. Under the agreement, Monsanto will license its Roundup Ready PLUS weed management trademarks for use with these specific FMC herbicides.
"This agreement adds to the Roundup Ready PLUS platform by delivering key weed management solutions from FMC's Authority® brand line-up of products," said Mike Frank, vice president of Monsanto's crop protection business. "This new agreement provides growers a choice of products within the FMC soybean pre-mix residual brand line-up for effective and economical weed control in Roundup Ready soybean systems."
"Our participation in the Roundup Ready PLUS™ platform and Residual Rewards program provides growers with an exciting and well-rounded weed management solution as part of their overall crop management practice," said Bob Trogele, Ph.D., FMC North America Area Crop Director. "We believe this platform sets a new industry standard, encouraging growers to take a proactive approach in residual weed management control with the Authority brands which provide excellent control of tough weeds like marestail, waterhemp, common ragweed, giant ragweed and many others resulting in grower productivity gains."
Financial terms of the agreement were not disclosed.
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