June 20, 2008
Monsanto to acquire Guatemala's SCB
Monsanto Co. said Thursday (June 19, 2008) that it would acquire corn producer Marmot S.A., which runs Semillas Cristiani Burkard (SCB), to offer farmers in Central America broader access to corn seed varieties.
The transaction will be completed as soon as practical, Monsanto said.
Guatemala-based SCB focuses on GM corn seed production and is a provider of corn, sorghum, forage sorghum, soy, and pastures (grass-type seeds). The company works with more than 900 dealers in the Central America region and distributes Seminis vegetable seeds, a product of Monsanto's vegetable seed division.
Brett Begemann, Monsanto's executive vice-president of Global Commercial, said the acquisition will solidify Monsanto's position as the leading corn seed provider in the Latin and Central American regions.
General Manager Antonio Cristiani Moscoso will continue to lead the SCB business and its 360 employees.
The company operates in twelve countries throughout North, Central and South America and the Caribbean.
St. Louis-based Monsanto Co. develops insect- and herbicide-resistant crops and other agricultural products.
Shares of Monsanto closed Wednesday (June 18, 2008) at US$141.50.
