DuPont Reports Financial Gains on Corn and Soybeans
19 September 2011 DuPont confirmed its seed business, Pioneer Hi-Bred, will deliver another year of positive financial performance, including North America share gains in corn and soybeans.
Based on USDA data, Pioneer added a solid 1 point share gain in North American corn and 4 points share gain in soybean, further demonstrating the value of Pioneer® genetics and services. These results mark multiple years of share gains in both crops.
“Based on what we are observing and hearing from farmers, we think our momentum will continue in 2012,” said Paul E. Schickler, president, Pioneer Hi-Bred, in a statement. “This year, growers planted nearly 4 million acres with Optimum AcreMax 1 and Optimum AcreMax RW products which will support increased penetration next year.”
In addition, the recent approval of new products, Optimum AcreMax and Optimum AcreMax Xtra, expands the company’s offerings of new insect protection solutions to benefit US corn growers and continue to deliver value.
Looking to the future, the company plans to leverage new research facilities and resources to expand routes to global markets, according to DuPont. As the world’s demand continues to increase, Pioneer has responded through expansions, collaborations and through investments in local resources to work side-by-side with farmers.
Last December, DuPont announced its expectations to deliver sales at a compounded annual growth rate of 8 to 10 percent from 2010-15 and increase pre-tax operating margins in the range of 19 to 21 percent 2010 through 2015 for the Agriculture & Nutrition reporting segment, which included the seed, crop protection and nutrition and health businesses. In the aggregate, those expectations remain unchanged for these businesse, according to the company.
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