West Salem, Wisconsin. and Henderson,
Nevada
January 15, 1999AgriBioTech, Inc. (ABT) and Forage Genetics, Inc.
announced today that Forage Genetics will be developing new Roundup Ready alfalfa
varieties to be marketed by ABT. These new varieties will allow producers to apply Roundup
Ultra over their alfalfa fields for enhanced weed control.
``Our customers will be among the first with access to this exciting new technology,''
said Dr. Tom Rice, Vice President, Director of Research for ABT. ``Combining the Roundup
Ready trait with the high yield, improved forage quality, and multiple pest resistance
traits of our ABT alfalfa varieties promises the potential for increased profitability for
our customers.''
``We are pleased to be working with ABT in developing Roundup Ready alfalfa varieties for
their
product line,'' said Dr. Mark McCaslin, President of Forage Genetics. ``This kind of
product
development agreement allows improved alfalfa varieties to be introduced to the
marketplace as
efficiently and rapidly as possible.''
In addition, ABT and Forage Genetics have agreed to work together to develop, evaluate and
release new ABT varieties with resistance to potato leafhopper. The companies expect these
future products to provide competitive agronomic performance and high resistance to this
economically significant alfalfa pest.
Forage Genetics announced earlier this year a global agreement with Monsanto Company to develop alfalfa germplasm with
Monsanto's Roundup Ready and other gene improvement
technologies. At that time the companies said their goal was to make the technology as
widely available as possible to growers through licensing agreements with seed companies
offering commercial alfalfa varieties.
Forage Genetics, a wholly owned subsidiary of Research
Seeds, Inc. of St. Joseph, Missouri, is an industry leader in the research,
development and marketing of value-added alfalfa technologies. Research Seeds is
recognized as a worldwide leader in the development, production and marketing of
proprietary forage and turf seed.
AgriBioTech, Inc. is a fully integrated full service seed
company specializing in the forage and turfgrass seed sector, complete with research and
development of proprietary seed varieties, seed processing plants, and a national and
international distribution and sales network. ABT has completed 33 acquisitions since
January 1, 1995, and is the largest forage and cool season turfgrass seed company in the
world, with a current level of annualized net sales of approximately $455 million,
including the previously announced pending acquisitions of Moore Seed Processors, and
Production+, which have annualized net sales aggregating approximately $15 million.
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