DuPont Leader: Agriculture & Nutrition Segment Delivering Growth and Innovation in 2010 and Beyond
Sep. 15, 2010
DuPont (NYSE: DD) Executive Vice President James C. Borel told analysts at the Credit Suisse Chemicals & Ag Conference today that the company expects its Agricultural & Nutrition segment to close 2010 with solid sales and earnings growth.
"We continue to build our Agriculture & Nutrition pipeline and strategically invest and innovate worldwide, including in the emerging markets," Borel sAId. "We believe the long-term fundamentals for this segment remAIn attractive and DuPont is strongly positioned to navigate short-term market variations based on our customer-centric and innovation-driven business model."
"Our intense focus on maximizing grower profitability through our Right Product Right Acre strategy and step-change crop protection products like Rynaxypyr(R) insecticide will deliver growth in sales, earnings and cash for our shareholders. We also are making better decisions for product advancements because our growers are participating closely in the process," Borel added.
Borel noted that 2010 harvest results are just starting to roll in and DuPont expects the performance will please growers.
"We remAIn confident about 2011 based on our strong line-up of new products, including AcreMax(R) 1 and AcreMax(R) RW for seeds, PlAInview(TM) herbicide, and many other exciting innovations," he sAId.
"The common thread for DuPonts businesses remAIns market-driven science and innovation that are focused on some of the most important global challenges: feeding the world through increased agricultural productivity, reducing dependence on fossil fuels, protecting people and the environment from harm, and responding to growth in emerging regions," sAId Borel.
The United Nations projects a 34 percent increase in global population representing about 9 billion people - about 150,000 new people to feed every day - by 2050. If population growth projections continue as expected, Borel stressed the need to be more productive on every acre or hectare of land farmed and innovation is going to be a key contributor.
DuPonts agriculture and nutrition unit has been one of its few bright spots during the economic downturn. The units sales increased 16 percent to $3.0 billion in the second quarter of this year
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