Monsanto Investing in Louisiana Facility
Wednesday April 2, 8:48 am ET
Monsanto Invest $196M in Luling, La., Manufacturing Plant; to Increase Capacity 20 Percent
ST. LOUIS (AP) -- Agricultural products producer Monsanto Co. said Wednesday it will invest up to $196 million over the next 18 months at a manufacturing facility in Luling, La.
The investment will be used to expand infrastructure and increase the plant's capacity to produce its herbicide products, including Roundup.
The expansion will also include an energy-reduction project aimed at reducing natural gas costs and conserving and utilizing hydrogen, one of the byproducts from the manufacturing process.
Once the project is completed, Monsanto expects to be able to increase the manufacturing capacity at the site by 20 percent.
Separately, Monsanto said its second-quarter profit more than doubled to beat Wall Street expectations, and offered a forecast for 2008 with a range that exceeded analyst forecasts.
Nevertheless, shares slipped 70 cents to $112.25 in premarket electronic trading, from their close at $112.95 Tuesday.
Source: Associated Press
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