'Winning Big in North America', says DuPont Leader
WILMINGTON, Del., June 12 /PRNewswire-FirstCall/ -- DuPont (NYSE: DD) business Pioneer Hi-Bred had significant sales volume growth of its Pioneer(R) brand corn, soybean and canola seed this spring, said Frank Ross, Pioneer vice president and regional director -- North America, during an investors' Business Review Series here today.
'As expected, sales volume gains along with double-digit seed price increases and a strong outlook for the North American seed business will be a primary driver of at least 15 percent cumulative average earnings growth rate of the DuPont Agriculture & Nutrition business through 2013,' Ross said.
Pioneer is forecasting significant growth in three of its major seed brands in North America for 2009. Corn sales volume is forecasted to grow 7 to 8 percent, soybean volumes are expected to increase 10 to 12 percent, and canola volume growth is predicted to be 38 to 40 percent.
'We are winning and winning big in North America,' Ross said. 'We have been investing, aligning and redesigning our entire North American organization over the last few years to be closer to our customers. Our commitment to help farmers maximize their productivity and profitability -- to get the right product on the right acre -- is paying off for farmers, for DuPont and for its shareholders.'
Ross explained that a unique combination of drivers is generating 2009 volume growth and they will help sustain the growth into the future. Ross outlined the key drivers for Pioneer as:
-- the richest, deepest product offerings in the industry;
-- business expansion initiatives that have better aligned the business
with local customer needs;
-- a commitment by the entire organization to help farmers get the right
product on the right acre; and
-- a unique route to market that is unlike any other in the seed industry.
Pioneer continues to expect strong market share gains, with plans to announce North American market share once planting is complete and the United States Department of Agriculture (USDA) has updated its U.S. planted acreage report.
To listen to a recording of the Business Review webcast, go to the Investor Center at www.dupont.com.
Pioneer Hi-Bred, a DuPont business, is the world's leading source of customized solutions for farmers, livestock producers and grain and oilseed processors. With headquarters in Des Moines, Iowa, Pioneer provides access to advanced plant genetics in nearly 70 countries.
DuPont 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.
The DuPont Oval Logo, DuPont(TM), The miracles of science(TM) and Pioneer(R) are registered trademarks or trademarks of DuPont or its affiliates.
Photo: Frank Ross - http://www2.dupont.com/Media_Center/en_US/assets/images/releases/nr_photo_FrankRoss_PHB.jpg
Caption: Frank Ross, Pioneer Vice President and Regional Director - North
America
SOURCE DuPont
