DuPont Leader Discusses Strategies for Long-term Growth in Agriculture
North American Growers Report Impressive 2014 Harvest Results with Pioneer® Brand Products
BOSTON, Nov. 12, 2014 /PRNewswire/ -- DuPont Pioneer President Paul E. Schickler discussed strategies for long-term, sustainable growth in agriculture today at the Morgan Stanley Global Chemicals & Agriculture Conference – emphasizing DuPont's global reach, advantaged route-to-market, innovative product options and value-added services delivered through DuPont Pioneer.
"With growers increasingly focused on managing tightening margins, we are providing the products and services that help them to maximize their seed investment and whole-farm profitability," said Schickler. "Our history as a trusted advisor to growers enables us to execute on growth opportunities driven by an increasing global population, rising incomes and a desire for improved diets."
Pioneer plays a key role in DuPont's plan to build a higher growth, higher value company. One of DuPont's three strategic priorities is to extend its leadership in the science-driven segments of the agriculture-to-food value chains, and to leverage the linkages across DuPont.
During his presentation, Schickler shared 2014 North American harvest results that demonstrate the strength of the business's products and services which feature industry-leading genetics with the right traits and services.
Delivering Bin-Busting Corn Yields
Many North American customers reported record corn harvests this year with several growers experiencing 300 or more bushels per acre on average with Pioneer® brand products.
"New genetic platforms coupled with insect protection traits from our Optimum® AcreMax® family of corn products are helping Pioneer customers to achieve top-end yields," said Schickler. "We continue to see good demand for our newest genetics as growers seek to deliver the best yields possible."
Additional top performers included Optimum® AQUAmax® corn products and Pioneer silage hybrids. Optimum® AQUAmax® corn products offer improved drought tolerance and were planted on about 10 million acres in 2014. Demand is expected to remain strong as the products continue to yield rain or shine. Pioneer® brand silage hybrids exhibited exceptional performance in the United States, including a lineup of Brown MidRib (BMR) hybrids that delivered up to 30 to 40 tons of silage per acre for dairy farmers.
Expanding Pioneer® Brand Soybean Offerings
Pioneer continues to build on the strong performance of Pioneer® brand T Series soybeans that were launched in 2013 with the expansion of its technology offerings, including varieties with the Genuity® Roundup Ready 2 Yield® trait.
"Farmers saw stronger yield results in 2014 with Pioneer soybean products," said Schickler. "We strive to offer growers reliable and more productive soybean seeds with our new T Series varieties out-performing older varieties that were previously yield leaders."
Building on this performance, the 2015 T Series varieties are expected to more than double in volume from 2014 – representing nearly two-thirds of Pioneer soybean sales.
Capturing Value from Services
In addition to delivering superior seed products, Pioneer is creating value with EncircaSM services in North America and the launch of several new seed treatment products in the DuPont™ Lumigen™ seed sense portfolio for soybeans, corn and canola in select global markets.
"Expanding our scope of offerings to customers generates value for growers and the business alike," said Schickler. "With farming operations becoming more complex, Pioneer differentiates itself as a trusted partner by providing innovative products and services beyond the bag of seed."
In February, Pioneer launched EncircaSM services – an advantaged approach to decision services. These whole-farm solutions are brand neutral and tailored to a grower's operation through a trusted local advisor. With growers facing a challenging economic environment, there is demand for more intensive and differential management on an acre-by-acre and an input-by-input basis. Through EncircaSM services, Pioneer expects to create or liberate as much as $100 of value per acre through real-time insights.
By leveraging Pioneer expertise with that of other industry, government and academic institutions, we are able to provide EncircaSM services customers with access to the largest and most accurate Ag Weather Network[1], advanced soils and topography mapping, and seamless data transfer that is compatible with various equipment manufacturers," said Schickler.
More than 13,000 users have joined EncircaSM View, the mobile information hub and an important component of the EncircaSM services whole-farm offering, in the first six months and many also opted into EncircaSM View Premium, which provides enhanced market and news services and field-by-field weather supported by DTN Ag Weather Network. Our EncircaSM Yield Nitrogen Management Service commercially launched in July has invoiced more than 300,000 acres with demand growing.
This year, DuPont formed the Seed Treatment Enterprise, an integrated business that utilizes the strengths of DuPont science to develop a pipeline of products to meet the demands of our customers around the world. As part of the new venture, DuPont launched several new products in the seed treatment portfolio, including DuPont™ Dermacor® insecticide for soybeans in Brazil and DuPont™ Lumiderm® insecticide seed treatment for canola in Canada. DuPont is launching DuPont™ Lumivia™ insecticide seed treatment for select Pioneer® brand corn products in the United States. It will be made available in the Pioneer Premium Seed Treatment (PPST) lineup as PPST 250 plus DuPont™ Lumivia™.
"By leveraging DuPont innovation, we can offer new technologies to growers to help them be more productive and more profitable on every acre," said Schickler.
To view a full copy of today's presentation, visit the "Events & Presentations" page on the DuPont Investor Center.
Use of Non-GAAP Measures
Management believes that certain non-GAAP measurements are meaningful to investors because they provide insight with respect to ongoing operating results of the company. Such measurements are not recognized in accordance with GAAP and should not be viewed as an alternative to GAAP measures of performance. Reconciliations of segment operating earnings to the most directly comparable GAAP measures are available on the Investor center of www.dupont.com under Key Financials & Filings.
DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit http://www.dupont.com.
Forward-Looking Statements: This news release contains forward-looking statements which may be identified by their use of words like "plans," "expects," "will," "believes," "intends," "estimates," "anticipates" or other words of similar meaning. All statements that address expectations or projections about the future, including statements about the company's growth strategy, product development, regulatory approval, market position, anticipated benefits of acquisitions, outcome of contingencies, such as litigation and environmental matters, expenditures and financial results, are forward-looking statements. Forward-looking statements are not guarantees of future performance and are based on certain assumptions and expectations of future events which may not be realized. Forward-looking statements also involve risks and uncertainties, many of which are beyond the company's control. Some of the important factors that could cause the company's actual results to differ materially from those projected in any such forward-looking statements are: fluctuations in energy and raw material prices; failure to develop and market new products and optimally manage product life cycles; significant litigation and environmental matters; failure to appropriately manage process safety and product stewardship issues; changes in laws and regulations or political conditions; global economic and capital markets conditions, such as inflation, interest and currency exchange rates; business or supply disruptions; security threats, such as acts of sabotage, terrorism or war, weather events and natural disasters; ability to protect and enforce the company's intellectual property rights; successful integration of acquired businesses and separation of underperforming or non-strategic assets or businesses and successful completion of the proposed spinoff of the Performance Chemicals segment including ability to fully realize the expected benefits of the proposed spinoff . The company undertakes no duty to update any forward-looking statements as a result of future developments or new information.
The DuPont Oval Logo, DuPont™, Pioneer®, EncircaSM, Optimum®, AQUAmax®, AcreMax®, Lumigen™, Dermacor®, Lumiderm™, Lumivia™ are trademarks or registered trademarks of DuPont or its affiliates.
[1] According to an independent Forecastwatch.com report, Schneider Electric, DTN/The Progressive Farmer's parent company, has delivered the industry's most accurate temperature and precipitation forecasts for the last seven consecutive years. This same forecast technology is used in DTN's solutions including the DTN Ag Weather Network, which contains over 2,000 individual weather stations.
SOURCE DuPont
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