Bayer expands Monsanto corn seed plant in Zhytomyr region
EUR 60 million will be invested in the construction of new facilities
Bayer is continuing to build a Monsanto plant in the village of Pochuiky, Popilnyansky district, Zhytomyr region. The plant will produce corn seeds, and 60 million euros will be invested in the construction of new facilities, said Vitaliy Bunechko, head of the Zhytomyr Regional Military Administration.
Source. This was reported by Interfax-Ukraine.
"Today, together with the director of Monsanto Seeds LLC, Volodymyr Onishchenko, we laid a symbolic time capsule at the site of the construction of new facilities of this enterprise. More than 60 million euros of additional investment during the war is the best evidence not only of international support for Ukraine, but also of the fact that large investors believe in our victory," he wrote in a telegram.
Bunechko emphasized that Monsanto Seeds is already one of the largest seed plants in Eastern Europe. It provides corn hybrids not only to Ukrainian farmers, but also to farmers in Romania, Hungary and France.
"Expanding production means creating new jobs in the Zhytomyr region, increasing tax revenues to the budget and foreign currency earnings, which is very important for the Ukrainian economy in times of war," he said.
At the same time, the head of the Zhytomyr Regional State Administration emphasized the responsible position of Bayer, which in 2022, two months after the start of the full-scale invasion, donated 140 tons of Monsanto corn seeds to support farmers who were sowing in extremely difficult conditions.
The investment will be used to build a new seed dryer, purchase modern agricultural equipment, and construct warehouses and two bomb shelters for employees.
The first phase of the corn seed production plant worth almost EUR 200 million was launched in 2018. The company employs about 100 full-time staff and 250 to 300 seasonal workers. The Bayer plant is one of the largest in the region.
Bayer is a multinational company operating in the fields of medicine and agriculture. The company is headquartered in Leverkusen, Germany. In 2022, the Bayer Group employed nearly 101,000 people and generated sales of €50.7 billion.
The company has been operating in Ukraine since 1992 and is represented by the pharmaceutical division, the OTC division, and the agricultural division. The total number of employees is 700.
Background. After the Russian invasion of Ukraine, Bayer announced that it was not going to leave Russia.
If you have read this article to the end, we hope that means it was useful for you.
We work to ensure that our journalistic and analytical work is of high quality, and we strive to perform it as competently as possible. This also requires financial independence. Support us for only UAH 196 per month.
Become a Mind subscriber for just USD 5 per month and support the development of independent business journalism!
You can unsubscribe at any time in your LIQPAY account or by sending us an email: [email protected]
