Visitors Now:
Total Visits:
Total Stories:
Profile image
By Children Of Vietnam Veterans Health Alliance
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Monsanto Increases Job Cuts as Sales Slump

Tuesday, October 25, 2016 10:46
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Agent Orange Advocacy http://covvha.net/

BY P.J. HUFFSTUTTER AND TOM POLANSEK -Reuters

Monsanto Co said a souring farm economy and currency woes will push its 2016 earnings to the lower end of expectations, while a cost-cutting drive will lead the world’s largest seed company to slash more jobs.

Low commodity prices also should lead to more consolidation in the agricultural sector, Chief Executive Hugh Grant said, about a month after rivals Dow Chemical Co and DuPont said they would merge.

However, Monsanto’s recent attempts to re-engage Syngenta AG about a potential takeover have been difficult since the Swiss agrochemical company shot down a proposed $45 billion deal last year, Grant said.

He told analysts on an earnings call on Wednesday that company executives still believe there is “a significant opportunity” for integration between the two companies, and given tougher market conditions there is a greater need to figure out what those opportunities might be.

“We haven’t seen much progress on that front,” Grant said.

Investors and Wall Street analysts have wondered what Monsanto would do to boost its portfolio of farm chemicals – particularly after it abandoned a bid for Syngenta in August.

Monsanto reported a smaller-than-expected quarterly loss on Wednesday, thanks in part to soybean sales rising in Brazil and growing demand in the company’s new soybean seeds and product lines.

But currency concerns, low commodity prices and farmers keeping a tight grip on their wallets have continued to create a tough marketplace for the St. Louis-based company.

A global glut of corn and soybeans has kept grain prices depressed for a third straight year, while pressure from investors and a desire to bolster profits – and product portfolios – has sent many of the world’s largest agricultural companies scrambling to cut deals.

Read More of this Article By Reuters Here

(COVVHA) Children of Vietnam Veterans Health Alliance INC. AO2GEN

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.