September 17, 2009

DuPont Vice President and Pioneer Hi-Bred President Paul Schickler said he expects the DuPont seed business Pioneer Hi-Bred to grow both its top- and bottom-line by more than 15 percent in 2009.

DuPont has committed to grow compounded annual earnings by greater than 15 percent through 2013.

Pioneer gained more than two points of the seed corn market share - the industry's largest gain - in North America this year. It also increased its leading position in the North America soy market by three points and gained five points of share in the Canadian canola seed market.

He expects the momentum to continue.

The seed business posted US$4 billion in revenue in 2008, which would increase to US$4.6 billion with 15 percent growth, said Doyle Karr, a spokesman for DuPont's agricultural and nutrition business.

The seed business revenue made up roughly 13 percent of the chemical company's US$30.5 billion in revenue for the year.

DuPont is a science-based products and services company. 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.