New York, New York
February 13, 2007
DuPont Group Vice President J. Erik Fyrwald told investment
analysts at the Goldman Sachs 11th annual
Agricultural Biotech Forum here today that DuPont Agriculture &
Nutrition expects to grow sales and earnings in 2007 as it also
increases investments in high growth opportunities in plant
genetics and biotechnology.
"We have a much stronger seed
product offering this year and are ramping up biotech traits for
full supply in 2008 and beyond," said Fyrwald. "We expect solid
growth in 2007, moderated by increased investments this year
that will drive further growth over the next five years."
Fyrwald said the company has
significantly increased the amount of seed with the three-way
stack of biotech traits that are in high demand. Along with
strong momentum internationally, these actions will fuel growth
in 2007 and position the company for accelerated growth in the
years that follow, he said.
At the same time, DuPont has
stepped up its investment in the technology pipeline to expand
the company's competitive advantage with next-generation biotech
traits and advanced crop protection products.
"Our scientists have created a
strong pipeline of new products," said Fyrwald. "I am pleased
with the progress we are making in the lab, in field tests and
in the marketplace."
In the past year, 44 percent of
the DuPont crop genetics research pipeline advanced to a phase
closer to the market, including four projects that moved to the
pre-launch phase. In the past two years, 90 percent of the
DuPont crop genetics pipeline has advanced phases in the
company's research pipeline.
Fyrwald said the company already
has begun a significant effort to fill additional positions in
the seed business as part of the reinvestment plan.
"The global demand for
agricultural crops is very strong," he said. "We have the
science to help farmers and others across the value chain meet
this growing demand. The additional investment in the business
will allow us to put that science to work for our customers
faster."
Presentation slides from today's
meeting:
http://library.corporate-ir.net/library/73/733/73320/items/231244/Goldman021307.pdf
DuPont (NYSE: DD) 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. |