Innovative Technologies Underpin Strong Growth in DuPont Seed Business
NEW YORK CITY, March 7, 2012 — Innovative technology, local product advancements and a strong 2012 research pipeline have positioned DuPont’s seed business, Pioneer Hi-Bred, for continued growth, Pioneer President Paul E. Schickler told attendees at the Goldman Sachs Agricultural Biotech Forum today.
“Global trends like an expanding middle class and rapid urbanization in developing economies are driving the demand for food and require constant innovation, global science and local solutions to feeding a growing population,” said Schickler. “Pioneer is dedicated to meeting these challenges and building upon our double-digit sales growth in 2011 with the Right Product Right Acre strategy.”
Schickler presented the 2012 seed research pipeline that features five product advancements and three program additions as a result of last year’s R&D efforts. With many advancing programs close to commercialization, Pioneer also received 39 regulatory approvals in 2011 and submitted another 34 documents pending approval.
This year’s pipeline advancements underscore Pioneer’s success with the Optimum® AcreMax® family with a wave of insect protection products launching commercially in 2012. Together Optimum® AcreMax® 1 and Optimum® AcreMax® XTRA are anticipated to achieve 65 percent penetration of the company’s above and below ground insect protection offering in North America.
“Our ability to innovate stems from our close relationships with growers as we look for new products and new ways to serve our customers,” Schickler said.
Schickler used the Brazil soybean product evolution as an example of Pioneer’s multi-pronged approach to product development. Pioneer® brand Y series soybeans on the market today have been developed specifically for that country. Using tools like the Accelerated Yield Technology (AYT™) system and continual work with native traits, researchers are developing new varieties yearly with tolerance to local disease pressures. These products are backed by new technologies in the pipeline such as DuPont™ Dermacor® seed treatment that is expected to provide broad spectrum insect protection starting in 2014. Combined with local services and agronomic knowledge, this provides growers with a comprehensive product package.
DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit http://www.dupont.com.
Forward-Looking Statements: This news release contains forward-looking statements based on management’s current expectations, estimates and projections. The company does not undertake to update any forward-looking statements as a result of future developments or new information. All statements that address expectations or projections about the future, including statements about the company’s strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like “expects,” “anticipates,” “plans,” “intends,” “projects,” “indicates,” and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in DuPont’s filings with the Securities and Exchange Commission, particularly its latest annual report on Form 10-K, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions of countries in which the company does business; competitive pressures; successful integration of structural changes, including acquisitions, divestitures and alliances; research and development of new products, including regulatory approval and market acceptance, and seasonality of sales of agricultural products.
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