Bayer ups pesticide investments on resistant weeds
FRANKFURT, Sept 5
FRANKFURT, Sept 5 (Reuters) - Bayer said its pesticides unit would boost investments through 2016 by 1 billion euros ($1.3 billion) as more farmers turn to its Liberty herbicide to kill weeds that have grown resistant to Monsanto's glyphosate.
As part of the plan to raise expenditures on plants and equipment in the 2013-2016 period to 2.4 billion euros, Bayer will build a 380 million euro factory for Liberty in the U.S. state of Alabama.
Glyphosate is a widely used weed killer without patent protection that was invented by Monsanto. Farmers increasingly turn to the Liberty weed killer and its genetically modified LibertyLink seeds when weeds emerge that are resistant to glyphosate.