November 7, 2007

Monsanto to spend US$230 million for expansion of Iowa seed corn operations

Monsanto Co. (MON) plans to invest US$230 million to expand its Iowa seed corn operations over the next two years.

The St. Louis-based company will improve existing DeKalb corn seed production sites in Boone and Grinnell and build a new DeKalb corn seed production plant in northeast Iowa. Monsanto is wrapping up an expansion at its research facility in Ankeny.

Monsanto said the projects, which will double its Iowa corn seed production, are expected to add more than 80 new full time jobs and 1,200 part time jobs.