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MONSANTO CHEMICAL ANNOUNCES INCENTIVE PROGRAM TO SPUR NORTH AMERICAN AUTOMOTIVE INDUSTRY

 MONSANTO CHEMICAL ANNOUNCES INCENTIVE PROGRAM TO SPUR
 NORTH AMERICAN AUTOMOTIVE INDUSTRY
 DETROIT, Jan. 23 /PRNewswire/ -- In an initiative to spur the North American automotive industry, Monsanto Chemical Company ("MCC") announced today an incentive program, "Project Get Rolling," that will provide the company's roughly 12,000 employees with $1,000 toward the purchase or lease of a new car, van, utility vehicle, or light truck assembled in the United States, Canada or Mexico.
 Project Get Rolling takes effect Feb. 1 and runs through July 31. The program applies to vehicles assembled in North America by the U.S. Big Three firms, General Motors, Ford and Chrysler, as well as by transnational firms. More than 75 percent of vehicles assembled and sold in the United States are Big Three products.
 "We're a major supplier of plastics, rubber chemicals, resins, fibers and other performance products to the North American auto industry. So, it's in our interest that the auto industry be healthy," said MCC President Robert G. Potter. "Through this program, we hope to help our customers, to help our employees, to show our confidence in economic recovery, and to help maintain the thousands of jobs that make up the North American auto industry.
 "Project Get Rolling is designed to support workers who make, sell and service any North American-built vehicle. All manufacturers, domestic and transnational, are a vital part of a healthy North American economy," Potter said.
 Because of the emphasis that MCC places on safety in its operations and for its workers, Potter said the company will strongly encourage participating employees to favor vehicles with anti-lock brakes and air bags.
 Monsanto Chemical Company is the largest operating unit of St. Louis-based Monsanto Company (NYSE: MTC). Last year, its sales to the worldwide auto industry represented about 25 percent of MCC's $4 billion in sales, making the company one of the nation's leading industry suppliers.
 In addition to the company's corporate offices in St. Louis, Monsanto serves the auto industry through its Automotive Marketing and Development Center in Auburn Hills, Mich.
 Among MCC products marketed to the auto industry are Saflex interlayer for laminated windshields, a broad portfolio of engineering plastics for interior and exterior trim and under-the-hood applications, rubber chemicals for tires, hoses and belts, resins for paint and adhesives, fibers for seat covers and carpeting, and phosphate compounds used in metal treatment.
 NOTE: Saflex is a registered trademark of Monsanto Company.
 -0- 1/23/92
 /CONTACT: Phil Mann, 212-887-8085, or Peter Propp, 212-887-8661, both for Monsanto Chemical/
 (MTC) CO: Monsanto Chemical Company ST: Michigan IN: AUT CHM SU:


GK-OS -- NY016 -- 2726 01/23/92 11:01 EST
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Publication:PR Newswire
Date:Jan 23, 1992
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