DuPont Plans New Agriculture Products
Tuesday February 12, 12:01 pm ET
DuPont to Launch New Seed Corn Brand in Brazil, Other Products to Increase Farmer Productivity
NEW YORK (AP) -- Chemicals maker DuPont Co. said Tuesday it will launch an insect control system for its seed corn product line, a new platform of soybean technology and a second seed corn brand in Brazil.
The new insect control system, Optimum AcreMax, will increase the number of acres corn growers can plant using insect control products. The first of several products in this line will be launched as early as 2009, pending regulatory approval.
DuPont said its new soybean technology platform will deliver growers a 40 percent increase in yield over the next decade.
Additionally, DuPont's Pioneer Hi-Bred business will launch a second corn seed brand to expand its market in Brazil.
On Monday, DuPont signed an agreement with Precision BioSciences Inc. that will give Pioneer Hi-Bred the rights to the biotechnology company's directed nuclease editor technology, which introduces and stacks multiple genes that speed up product development in corn, soybeans and other crops.
Speaking at the Goldman Sachs Agricultural Biotech Forum, J. Erik Fyrwald, DuPont group vice president, said the company's Agriculture & Nutrition segment is on track to report double-digit earnings growth in 2008. The business unit posted a 14 percent gain in revenue in 2007, driven by stronger seed sales from its Pioneer Hi-Bred business.
DuPont shares gained $1.78, or 3.9 percent, to $47.71 in morning trading. Shares have traded between $41.26 and $53.90 in the past 12 months.
Source: Associated Press
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