Des Moines, Iowa
December 3, 2007
DuPont Group Vice President J. Erik Fyrwald today said
that the company's Agriculture & Nutrition business
platform is on track with its previously announced August
financial forecast for the full year 2007, positioning the
business for solid 2008 financial performance. Fyrwald's
comments came during a business review series conference call
with investment analysts.
"DuPont Agriculture & Nutrition is on track to increase revenue
and earnings by more than 10 percent this year," Fyrwald said.
He noted that the biggest gains are coming from an anticipated
15 percent increase in seed sales
by the Pioneer Hi-Bred business, based on increased global corn
acres and strong results from international operations.
"With our positive momentum in North America and around the
world, we are targeting to generate double-digit earnings growth
through the foreseeable future," Fyrwald said. "Our rich product
pipeline will continue to feed that growth with the release of
new technologies each year."
The company is on track to launch Rynaxypyr™ insecticide and
disease resistant corn in 2008; Optimum™ GAT(TM) soybeans and
high oleic soybeans in 2009, and; Optimum GAT corn in 2010.
Other key traits that will follow include drought tolerance,
increased yields and nitrogen use efficiency.
DuPont introduced Accelerated Yield Technology (AYT™) in
soybeans in 2007.
Fyrwald outlined the company's plan to continue growing its
Agriculture & Nutrition businesses. In addition to growth from
robust research pipelines at its Crop Protection and Pioneer
businesses and majority-owned joint venture Solae, DuPont
expects significant growth gains in Latin America, Europe,
Africa and Asia.
"DuPont has been aggressively establishing businesses and
business relationships in key markets around the world," Fyrwald
said. "While we will grow our business in North America, the
fastest growth will come from key
emerging markets like Brazil, India, eastern Europe and China."
DuPont also announced a joint venture with a Chinese biotech
research firm to strengthen its trait discovery research efforts
and expand its seed presence in the Chinese market.
DuPont (NYSE: DD) is a science-based products and services
company. Founded in 1802, DuPont puts science to work by
creating sustainable solutions essential to a better, safer,
healthier life for people everywhere. Operating
in more than 70 countries, DuPont offers a wide range of
innovative products and services for markets including
agriculture and food; building and construction; communications;
and transportation. |
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