Monsanto Company (NYSE: MON) announced today its intention to make an investment of up to $196 million over the next 18 months at its glyphosate manufacturing facility in Luling, Louisiana. The planned development will increase its global capacity to produce Roundup and other glyphosate-based herbicides.
"Growing global adoption of our seed products, including Roundup Ready crops, has led to increased demand for our Roundup agricultural herbicides," said Mark Leidy, executive vice president of manufacturing at Monsanto. "Today's investment provides for new process improvements at our Luling manufacturing facility, allowing us to strengthen our manufacturing position while helping to ensure that our business is able to provide a reliable supply of the world's leading herbicide brand, Roundup, to our customers."
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