Amana, Iowa
August 29, 2006
DuPont and Bunge today
announced the expansion of the companies' soy collaboration
beyond food and nutrition products to include industrial
applications, biofuels and other opportunities.
"Over the three years of our collaboration, we have seen the
interest in biofuel, industrial and feed sectors expand
exponentially. We are making strides to bring products to market
to meet the growing demand," said Erik Fyrwald, group vice
president, DuPont Agriculture & Nutrition.
Carl Hausmann, president and CEO, Bunge North America, said,
"This collaboration brings together the expertise and resources
of two industry leaders that span the soybean value chain. We
are pleased with the success of our low linolenic soybean oil in
meeting our food customers' demands for trans fat alternatives.
We are excited about the potential of new soy products that will
build on this success in the food sector and enable us to better
serve feed and industrial customers including the growing soy
biodiesel industry."
DuPont has a significant
effort to deliver new technologies to the growing biofuels
market, which includes improving biofuel production through
improved seed and crop protection products; developing new
technologies to allow conversion of cellulose to biofuels; and
developing next generation biofuels, including biobutanol. In
addition to developing corn hybrids for ethanol, DuPont
subsidiary Pioneer Hi-Bred
International, Inc., is characterizing Pioneer(R) brand
soybean varieties for oil content to determine impact on
biodiesel production.
TREUS™ Brand Name Launched
To reflect the broader collaboration, DuPont and Bunge are
launching TREUS(TM), the new brand name for the industry-leading
family of soy products developed by the partnership that deliver
enhanced nutrition, sustainability and functionality.
Low linolenic soybean oil produced from Pioneer(R) brand soybean
varieties, and previously marketed as NUTRIUM Low Linolenic
Soybean Oil, will now be marketed as TREUS(TM) Low Linolenic
Soybean Oil.
Low Lin Opportunity for Growers
DuPont and Bunge have carved a strong position in the expanding
low linolenic soybean market. The alliance is delivering
valuable contracting opportunities to farmers, establishing
itself as a reliable source of high quality oil to meet the
demand from food companies to reduce or eliminate trans fats
from their products.
Acres planted with Pioneer(R) brand low linolenic soybeans grew
from about 35,000 in 2005 to nearly 200,000 in 2006, with plans
to significantly increase acres in 2007 to meet growing customer
demand. From a targeted base in Iowa in 2005, the geography has
expanded each year and is projected to reach into eight states
for the 2007 growing season -- including Iowa, Illinois,
Indiana, Ohio, Michigan, Missouri, Pennsylvania and Wisconsin.
In addition, Pioneer is continuing to expand the line-up of low
lin soybean varieties available in its high performing soybean
product line. The product pipeline includes several new
varieties for 2007 that can be grown across broader geographies
and maturity zones. Pioneer brand low lin soybean varieties are
offered as a part of the Pioneer IndustrySelect(R) program,
which helps farmers select hybrids or varieties specific to the
end-use need.
Bunge is seeing strong demand for low linolenic soybean oil
produced from Pioneer brand low lin soybeans. The company met
2005 production commitments to food companies; and is on target
to meet 2006 commitments.
Rich Product Pipeline
Low linolenic soybean oil was the first product introduced by
the companies, with a number of strong soybean oil and soybean
meal products in the pipeline, including oils with high oleic
and a combination of high oleic and high stearic oil content.
High oleic and high oleic/high stearic products present valuable
benefits to food processors and industrial customers. For food
companies, the high oleic/high stearic oil will offer a low
trans, high solids baking ingredient for use in packaged foods
requiring an extended shelf life such as cookies, crackers and
breakfast cereals. High oleic oil also provides a low trans
product with improved frying performance for food service and
food processors. In industrial and transportation settings, high
oleic oil offers functional characteristics that allow companies
to develop renewable, environmentally friendly options to
petroleum-based products.
Researchers at Pioneer also are developing soybean varieties
that produce soybean meal with enhanced amino acid content for
more efficient meat production. Increased biodiesel production
results in increased soybean meal availability, highlighting the
importance of enhancing the quality of soybean meal.
The Bunge DuPont Biotech Alliance was formed in 2003. At the
same time, the companies created The Solae Company, a joint
venture to bring more great tasting, nutritious soy-foods to the
marketplace. Solae is headquartered in St. Louis and has annual
revenue exceeding $1 billion.
Bunge North
America, the North American operating arm of Bunge Limited
(NYSE: BG), is a vertically integrated food and feed ingredient
company, supplying raw and processed agricultural commodities
and specialized food ingredients to a wide range of customers in
the livestock, poultry, food processor, foodservice and bakery
industries. With headquarters in St. Louis, Missouri, Bunge
North America and its subsidiaries operate grain elevators,
oilseed processing plants, edible oil refineries and packaging
facilities, and corn dry mills in the U.S., Canada and Mexico.
Pioneer Hi-Bred International, Inc., a subsidiary of DuPont, 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, crop protection solutions and quality
crop systems to customers in nearly 70 countries.
DuPont is a science 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, nutrition, electronics, communications, safety and
protection, home and construction, transportation and apparel.
Pioneer(R), TREUS(TM) and IndustrySelect(R) are trademarks and
service marks of Pioneer Hi-Bred International, Inc. |