Wilmington, Delaware and Des
Moines, Iowa
August 16, 2007
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Joe
Keaschall (right), research director, DuPont business
Pioneer Hi-Bred, updates investors in Iowa. |
At a two-day meeting in Des
Moines, Iowa, DuPont leaders
updated more than 50 investors on DuPont businesses serving the
agriculture and biofuels markets.
"Global population growth, rising
income and demand for biofuels is driving increased demand for
agricultural outputs," Chairman and CEO Chad Holliday said.
"DuPont is uniquely positioned to meet that challenge due to our
multi-discipline science, ability to leverage that science
across different industries, and our broad market access and
global reach."
"The synergies among agricultural biotechnology, biofuels and
biomaterials are creating potential game-changing solutions to
the global challenges we face today and significant growth
opportunities for DuPont," said DuPont Executive Vice President
& Chief Innovation Officer Tom Connelly.
"We are advancing a rich pipeline
of new products to enhance yield and nutrition," said Erik
Fyrwald, Group Vice President - DuPont Agriculture & Nutrition.
He referenced top-performing insect resistant corn; Rynaxypyr™
low-dosage insecticide; fungal resistant corn; Optimum™ GAT™
dual herbicide tolerance, and; healthier soybean oil.
Approximately USD 100 million in growth investments will be made
in 2007. The investments are targeted at accelerating new
product launches, increasing the rate of genetic gain, expanding
capacity for plant biotechnology discovery and development,
increased sales coverage, and more aggressive promotions.
With regard to savings from the restructuring program, announced
in December 2006, Erik said Agriculture & Nutrition will
generate savings of approximately USD 20 million of the USD 100
million target late in 2007, another USD 40 million in savings
in 2008, and the remaining USD 40 million in savings in 2009.
Erik noted that for the year 2007, he expects DuPont Agriculture
& Nutrition to deliver about 10 percent revenue growth and 20
percent pretax operating income (PTOI) growth before accounting
for the accelerated growth investments. Including the
investments, PTOI growth would be about 10 percent, compared to
a compound annual average growth rate of 14 percent since 2001.
Analysts also toured field plots
and a research center as well as met with customers.
- Presentations given by Chad Holliday, Tom Connelly and Erik
Fyrwald:
http://library.corporate-ir.net/library/73/733/73320/items/258185/DD_081507_presentation.pdf
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Webcast and Q&A Replay |
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