Des Moines, Iowa
April 17, 2008
Leading e-rrading platform
teams with Pioneer MarketPoint(SM) resource
DuPont (NYSE: DD) today
announced it has purchased an equity stake in
Farms Technology as part
of its strategy to create additional value for its customers and
grain buyers. Specific details of the equity stake purchase were
not released.
DuPont business Pioneer
Hi-Bred recently began partnering with Farms Technology to
develop MarketPoint(SM) resource, a new online market service
that links corn growers with end users to provide producers with
enhanced
profit opportunities, greater product differentiation and more
convenience.
In February, Pioneer and Farms Technology, which is based in
Overland Park, Kan., successfully launched a pilot program for
the MarketPoint(SM) resource with corn growers and ethanol
plants in Nebraska. Growers, representing more than 60 million
bushels of grain, have already registered on the site.
Participating growers have shown they can make more money per
bushel on corn sales through MarketPoint(SM) resource than they
can through traditional marketing practices.
"Farms Technology has played a vital role in helping Pioneer
develop the MarketPoint(SM) resource into a successful website
that is now having impact on the marketplace," said Paul
Schickler, Pioneer president and DuPont vice president and
general manager. "The purchase of this equity stake in Farms
Technology shows that we are making a long-term commitment to
this unique and expanding business. As grain markets expand, we
see this involvement as a way to help customers increase their
income and drive seed sales."
Farms Technology's applications range from completely integrated
electronic hedging platforms, to private cash commodity
exchanges, to fully open public cash commodity exchanges. These
products have been created to
automate farmer cash commodity sales directly from the farm to
participating buyers.
"The resources of Pioneer and the automated marketing technology
of Farms Technology present growers with powerful new
alternatives to improve their bottomline," said Jason Tatge, CEO
of Farms Technology. "Since Farms Technology was formed in 2001,
we have worked hard to create a workable, user-friendly
automated system that is relied upon today by thousands of
farmers for their grain marketing needs. We believe our system,
in combination with the Pioneer network and relationships, will
create an even more successful business model."
Available on the Pioneer GrowingPoint(R) website, the
MarketPoint(SM) resource allows growers to post their
high-quality grain for sale to local buyers who make competitive
bids based upon quality and quantity information posted to the
site. In turn, local grain buyers will be able to source this
higher value grain to help maximize efficiency, whether it is in
their ethanol plants or feedlot operations.
Further information on MarketPoint(SM) resource is available on
http://www.marketpoint.pioneer.com.
Farms Technology, L.L.C. is the industry leader for online
grain marketing and has been serving the grain business by
providing the electronic marketplaces with a mission of
providing simple, useful tools to farmers and grain buyers that
help improve efficiencies. Farms Tech's software suite also
includes the Dynamic Pricing Platform that electronically
connects all three participants (buyer, seller, futures market)
in the grain procurement process via the Internet.
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),
MarketPoint(SM), GrowingPoint(R) and Pioneer(R) are registered
trademarks or trademarks of DuPont or its affiliates. |
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