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DuPont Agriculture & Nutrition On Track for Strong 2007
US - The Agriculture and Nutrition (A&N) business of multinational Dupont is on track with its previously announced August financial forecast for the full year 2007, positioning the business for solid 2008 financial performance, according to DuPont Group Vice President Erik Fyrwald.
Mr Fyrwald's comments, and those of other A&N leaders, came during a conference call with investment analysts.
"DuPont Agriculture & Nutrition is on track to increase revenue and earnings by more than 10 percent this year," Mr Fyrwald said.
He noted that the biggest gains are coming from an anticipated 15 per cent 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," he 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™ 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.
Mr 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.
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