Monsanto to buy Brazilian biofuels company
US-based agricultural company Monsanto will purchase Brazil-based Aly Participacoes for $290 million (225.3 million Euro's) to invest in sugarcane to feed global demand for raw sugar and biofuels.
Aly Participacoes operates the sugarcane breeding and technology companies, CanaVialis, the world's largest private sugarcane breeding company, and Alellyx, an applied genomics company that is focused on developing biotech traits primarily for sugarcane. Both are based in Brazil, the world's largest producer of sugar and the world's second-largest producer of ethanol, after the US.
'Global demands for raw sugar and biofuels are beginning to rise at a faster pace than the current production levels in sugarcane, a crop that is essential to meeting these demands,' Carl Casale, executive VP of global strategy and operations for Monsanto, states. 'Similar to our work with technology collaborators, we expect the additions of CanaVialis and Alellyx will allow us to combine our breeding expertise with key large-acre crops with their breeding expertise in sugarcane.'
Aly Participacoes operates the sugarcane breeding and technology companies, CanaVialis, the world's largest private sugarcane breeding company, and Alellyx, an applied genomics company that is focused on developing biotech traits primarily for sugarcane. Both are based in Brazil, the world's largest producer of sugar and the world's second-largest producer of ethanol, after the US.
'Global demands for raw sugar and biofuels are beginning to rise at a faster pace than the current production levels in sugarcane, a crop that is essential to meeting these demands,' Carl Casale, executive VP of global strategy and operations for Monsanto, states. 'Similar to our work with technology collaborators, we expect the additions of CanaVialis and Alellyx will allow us to combine our breeding expertise with key large-acre crops with their breeding expertise in sugarcane.'
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