Monsanto Co. donated $1 million to the American Red Cross to assist in flood relief efforts in Iowa and pledged $500,000 more to other Midwest states that may be affected by floodwaters, the company announced Wednesday.
The company also announced that its 1,180 Iowa-based employees will be offered a full day off with pay to volunteer in support of local flood relief efforts. The company's 1,180 employees at its 20 facilities in Iowa are expected to generate more than 9,400 hours of manpower assistance.
In addition, Monsanto said all donations made by its U.S. employees to the Red Cross are eligible for the company's matching gift program.
"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," Hugh Grant, Monsanto chairman, president and CEO, said in a statement. "We're proud to support the Red Cross in these relief efforts and encourage others to commit to this effort."
Earlier this month, Monsanto donated $65,000 to relief and rebuilding efforts in Parkersburg, Iowa, where a recent tornado caused significant damage to the community and killed seven people. Monsanto operates a manufacturing plant in Parkersburg.
St. Louis-based Monsanto Co. (NYSE: MON) develops insect- and herbicide-resistant crops and other agricultural products.
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