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Monsanto Donates $1 Million in Support of Iowa Flood Relief Efforts
Monsanto Donates $1 Million in Support of Iowa Flood Relief Efforts
Published 06-18-08
Submitted by Monsanto
ST. LOUIS, June 18 /PRNewswire-FirstCall/ -- Monsanto Company (NYSE: MON) announced today that it is donating $1 million to the American Red Cross to assist in flood relief efforts in Iowa. Monsanto's support of the Red Cross comes at a time the agency is facing what has been called "a rolling disaster." It is estimated that recent floods have already affected tens of thousands of people and flooded three million acres in Iowa alone.
"The tragedy is severe, and the need is tremendous," said Hugh Grant, Monsanto chairman, president and chief executive officer. "Our farmer customers and their families have already experienced flooded homes, flooded fields and terrible hardships, and we must help."
In addition to its $1 million donation for the state of Iowa, the company announced that it has also designated $500,000 for flood-relief efforts in other Midwest states. The company said that donation is expected to be used by the Red Cross as it deems necessary to support the thousands of people affected by this devastating natural disaster.
Monsanto separately announced two employee-related initiatives aimed at offering further monetary and man-power to support the flood relief efforts.
First, the company announced that all donations made by its U.S. employees to the Red Cross and its flood-relief efforts are eligible for the company's matching gift program.
Second, Monsanto announced that its Iowa-based employees will be offered the opportunity to commit one eight-hour day with pay to volunteer in support of local flood relief efforts including sand-bagging or other clean-up projects as water-levels lower. Monsanto employs 1,180 people at 20 facilities across the state of Iowa. The company's largest facility is at Muscatine, Iowa, which employs 500 people. The employee volunteer program is expected to generate more than 9,400 hours of man-power assistance in support of the regional flood-relief efforts.
"This is a tragic disaster that has impacted tens of thousands of people and their families, from our customers to our colleagues to our neighbors," said Grant. "We're proud to support the Red Cross in these relief efforts and encourage others to commit to this effort."
As of June 15, the Red Cross had opened 74 shelters for flood victims, providing housing for more than 7,500 people. More than 270,000 meals and snacks have been served. For more information about the ongoing relief program, visit the Red Cross web site at www.redcrosschat.org.
Monsanto Company is a leading global provider of technology-based solutions and agricultural products that improve farm productivity and food quality. For more information, please visit the company's web site at www.monsanto.com.
