ST. LOUIS, April 11, 2011 /PRNewswire/ -- U.S. farmers in the Corn Belt can now choose the simplicity, convenience and refuge compliance benefits of the industry's first, single-bag refuge solution for corn. Genuity® SmartStax® RIB Complete™ by Monsanto Company (NYSE: MON) has received registration from the U.S. Environmental Protection Agency (EPA). This completes federal regulatory authorization in the United States. Commercialization is pending individual state authorizations and notifications, as required.
The EPA approval enables a full-scale commercial launch of Genuity SmartStax RIB Complete for the 2012 season. As the industry's first single-bag refuge solution, Genuity SmartStax RIB Complete is a major new product catalyst in Monsanto's Genuity Reduced-Refuge corn family.
With the convenience of the single-bag solution, Genuity SmartStax RIB Complete provides a step change in new value Monsanto can deliver U.S. farmers. With the approval coming in the first half of 2011 and with the previous investment in Monsanto seed-production capability, the bulk of available Genuity SmartStax corn in 2012 is expected to be offered as a RIB product to meet farmer interest. Genuity SmartStax RIB Complete will launch in Monsanto's national and regional seed brands, as well as licensee partners.
"We're committed to developing products that help improve farmers' productivity. Farmers have told us they want a true, single-bag refuge solution, and this registration enables Monsanto to deliver," said Brett Begemann, Monsanto Chief Commercial Officer and Executive Vice President. "This is a new level of value that hasn't existed to date, as Genuity SmartStax RIB Complete corn simplifies refuge management by eliminating the structured refuge, which can contribute to timely, more-efficient planting and on-farm productivity."
The product is the outcome of a collaboration between Monsanto and Dow AgroSciences LLC, a wholly owned subsidiary of The Dow Chemical Company. It is a combination of each company's industry-leading corn traits that provide farmers with multiple modes-of-action for broad spectrum control of above- and below-ground insects, and also offers two herbicide tolerance traits for flexible weed management. This registration of Genuity SmartStax RIB Complete provides farmers in the Corn Belt with the opportunity to plant a single-bag refuge solution for corn.
Genuity SmartStax RIB Complete is a blend of 95 percent Genuity SmartStax corn seed and 5 percent refuge (non-Bt) seed that farmers can plant across their entire field. This means that farmers who plant Genuity SmartStax RIB Complete products no longer need to plant a separate, structured refuge for above- or below-ground pests in the Corn Belt. For farmers who purchase Genuity SmartStax without the RIB Complete, the structured refuge is still required.
2012 Full-Scale Commercial Launch and Ramp Up
Monsanto previously projected the ramp up to approximately 100 Genuity SmartStax hybrids across multiple brands for the 2012 selling season. With the approval of Genuity SmartStax RIB Complete, Monsanto expects that the bulk of available Genuity SmartStax hybrids will be offered in the convenience of a RIB option to farmers. Monsanto has previously completed the infrastructure investments in its seed production to ensure a full-scale commercial launch of Genuity SmartStax RIB Complete in 2012.
"This is a product that will truly simplify the management of my operation and improve my peace-of-mind at the same time," said Greene, Iowa, farmer Ron Litterer. "In order to be refuge compliant on my Genuity SmartStax RIB Complete fields, all I'll have to do is tear open the bag and pour the seed into my planter. That will allow me to plant the most traited acres in every field, while complying with refuge requirements."
In corn farming, a refuge is an integral component of insect resistance management. The refuge provides a shelter for insects susceptible to Bt technology so that any rare individual insects that survive after feeding on Bt corn can mate with susceptible insects and produce susceptible offspring. This preserves Bt technology that helps corn plants protect themselves from insect pests.
For downloadable audio, photographs and more, please visit the press kit on Monsanto's website.
Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. Monsanto remains focused on enabling both small-holder and large-scale farmers to produce more from their land while conserving more of our world's natural resources such as water and energy. To learn more about our business and our commitments, please visit: www.monsanto.com. Follow our business on Twitter® at www.twitter.com/MonsantoCo, on Facebook® at www.facebook.com/MonsantoCo, or subscribe to our News Release RSS Feed.
Cautionary Statements Regarding Forward-Looking Information:
Certain statements contained in this release are "forward-looking statements," such as statements concerning the company's anticipated financial results, current and future product performance, regulatory approvals, business and financial plans and other non-historical facts. These statements are based on current expectations and currently available information. However, since these statements are based on factors that involve risks and uncertainties, the company's actual performance and results may differ materially from those described or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, among others: continued competition in seeds, traits and agricultural chemicals; the company's exposure to various contingencies, including those related to intellectual property protection, regulatory compliance and the speed with which approvals are received, and public acceptance of biotechnology products; the success of the company's research and development activities; the outcomes of major lawsuits; developments related to foreign currencies and economies; successful operation of recent acquisitions; fluctuations in commodity prices; compliance with regulations affecting our manufacturing; the accuracy of the company's estimates related to distribution inventory levels; the company's ability to fund its short-term financing needs and to obtain payment for the products that it sells; the effect of weather conditions, natural disasters and accidents on the agriculture business or the company's facilities; and other risks and factors detailed in the company's most recent Form 10-K Report to the SEC. Undue reliance should not be placed on these forward-looking statements, which are current only as of the date of this release. The company disclaims any current intention or obligation to update any forward-looking statements or any of the factors that may affect actual results.
Ben Kampelman (314-694-6192)
Mimi Ricketts (314-694-5703)
SOURCE Monsanto Company