Monsanto to Sell NSC Technologies

Monsanto Co. (St. Louis, MO) has signed a definitive agreement to sell NSC Technologies LLC (Mt. Prospect, IL), a pharmaceutical intermediates and bulk active chemicals business, to Great Lakes Chemical Corporation (West Lafayette, IN) for $125 million. Proceeds from the sale of NSC Technologies will be used to pay down debt.

Under terms of the agreement, all employees of NSC Technologies will become part of Great Lakes. Great Lakes also will receive all of the business' assets and assume all of its obligations. Additionally, Monsanto and Great Lakes will enter into a multi-year strategic supply agreement, under which Monsanto will supply L-phenylalinine to Great Lakes for NSC Technologies' ongoing needs.

Monsanto is a life sciences company.

NSC Technologies is a supplier of intermediates and active materials to the pharmaceutical industry.

Great Lakes Chemical is a manufacturer of specialty chemicals.

For more information: Gary L. Crittenden, Senior VP and CFO, Monsanto Co., 800 N. Lindbergh Blvd., St. Louis, MO 63167. Tel: 314-694-1000. Fax: 314-694-6572. Email: gary.l.crittenden@monsanto.com.