Forbes Magazine named Monsanto its Company of the Year for 2009 in its latest issue. The magazine praised Monsanto's economic success and innovative new products. Robert Langreth and Matthew Herper referred to the company as an economic winner in the Forbes article.
"It has created many billions of dollars of value for the world with seeds genetically engineered to ward off insects or make a crop immune to herbicides: Witness the vast numbers of farmers who prefer its seeds to competing products, and the resulting $44 billion market value of the company." Monsanto provides agricultural products for farmers in the United States and internationally.
It operates in two segments, Seeds and Genomics, and Agricultural Productivity. In its fiscal 2009 Monsanto sold $7.3 billion of seeds and seed genes, versus $4 billion for second-place DuPont and its Pioneer Hi-Bred unit. Monsanto netted $2.1 billion on revenue of $11.7 billion for fiscal 2009 (ended August 31). Its sales have increased at an annualised 18 percent clip over five years; its annualized return on capital in the period has been 12 percent.
The company of the year recognition is a tribute to the company's valued employees and dedicated customers. Monsanto's success would not be possible without the hard-working farmers that continue to choose Monsanto's products over its competitors. "Farmers vote one spring at a time. You get invited back if you do a good job," said Hugh Grant, Monsanto's president, chairman and CEO, in the Forbes article.-PR