Des Moines, Iowa
July 7, 2009
DuPont (NYSE: DD) business
Pioneer Hi-Bred today updated the introduction and
conversion timeline for Optimum® GAT® corn, the company’s
proprietary herbicide tolerance trait.
Specifically, regulatory approvals in certain U.S. export
markets are taking longer than originally expected. The changed
regulatory approval schedule will limit the introductory volumes
of Pioneer® brand corn seed with the Optimum® GAT® trait to
controlled releases in 2010 and 2011.
Pioneer currently anticipates Japanese import approval for
Optimum® GAT® corn late in 2010. Approvals in Taiwan and Korea –
also large importers of U.S. corn – will follow Japanese
approvals. U.S. Department of Agriculture (USDA) regulatory
approval for Optimum GAT corn is currently on track for later
this year.
“Adjustments to the regulatory approval schedule are common,"
said Paul E. Schickler, DuPont vice president and general
manager and Pioneer Hi-Bred president. “While we are
disappointed in this administratively-driven schedule change, we
are confident in our long term prospects.”
“The Optimum® GAT® trait in corn continues to demonstrate
excellent herbicide tolerance and product safety,” Schickler
said. “We are positioned to deliver industry-leading products,
proprietary technologies and new choices to growers to help
maximize their productivity well into the future.”
While DuPont currently believes that it is unlikely to be
largely converted by 2015, the company continues to make
important progress with its Optimum® GAT® corn product line.
DuPont will provide an update on its progress during its annual
pipeline review. The company reaffirmed its outlook for greater
than 15 percent compounded annual earnings growth rate of the
DuPont Agriculture & Nutrition business segment through 2013.
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®, The miracles of science®,
Pioneer®, and Optimum® GAT® are registered trademarks or
trademarks of DuPont or its affiliates. |
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