Friday, April 2, 2010

Monsanto (NYSE:MON) Expanding Soybean Plant in North Dakota

Monsanta soybean plant in North Dakota

Monsanto (NYSE:MON) announced it will be expanding their North Dakota soybean plant which produces their Asgrow brand. The plant used to be used for the sunflower business of Monsanto before they sold it in 2009.

"This site expansion is a critical part of our strategic direction as a seeds-and-traits business," Mark Martino, Monsanto's vice president of seeds and traits manufacturing, said in a statement.

Once completed, the expansion is estimated to increase business with local farmers by about $20 million.

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