New Soybean Facility to Meet Growing Demand for DuPont Innovation
DuPont and State of Missouri Announce New $55 Million Facility To Help Meet Rising Need for Pioneer® Brand Soybeans
Des Moines, IA and Jefferson City, MO (Vocus) March 5, 2010
DuPont and the state of Missouri announced DuPont business Pioneer Hi-Bred plans to construct a commercial and parent soybean seed production facility in New Madrid County, Mo. The $55 million project is one of many expansions Pioneer is making to ensure it meets rising demand for its products and helps farmers meet the strong global demand for grain.
Pioneer, which recently acquired 129 acres of land in Missouri’s New Madrid County, expects initial operation to begin fall 2011 after construction is completed. The new plant is expected to employ about 50 people once it is fully operational.
“This location strengthens our ability to bring new products to the market faster and to help farmers increase their productivity and profit,” said Paul E. Schickler, president – Pioneer Hi-Bred. “Our high-yielding Y Series soybeans have created even more demand for Pioneer soybeans, and this new facility will help ensure that growing demand is met.”
“As our economy continues to recover, it is critically important that high-tech, high-paying companies such as Pioneer invest in Missouri and create new jobs for our workers,” said David Kerr, director – Missouri Department of Economic Development. “Pioneer’s plan to build a new production facility in New Madrid County further demonstrates how a strong package of state tax incentive programs can serve as a powerful tool to help draw quality companies to Missouri, creating new jobs and moving our economy forward.”
“The Missouri Technology Corporation (MTC) is pleased to partner with the Department of Economic Development to bring this exciting project and new jobs to southeast Missouri,” said Jason Hall, executive director – MTC. “This project is a direct result of the work of the state and MTC, along with others, to strategically market Missouri’s strength in agricultural-biotechnology and to bring these next-generation jobs to all corners of the state.”
As the first Pioneer production facility in Missouri, the new plant primarily will serve soybean growers in more southern geographies in the United States. Pioneer also has a research facility in Miami, Mo., as well as selling corn, soybean, sorghum and wheat seed in the state.
The launch of the Y Series is the result of a proprietary matrix of traits and technologies Pioneer researchers have been developing and deploying to accelerate product development. Pioneer is employing its exclusive Accelerated Yield Technology (AYTTM) system and marker-assisted selection to boost the yield potential and improve the agronomic performance of these varieties. This harnesses the power of the Pioneer germplasm collection, strong bioassays, computing power and molecular breeding tools to drive genetic gain at unprecedented rates.
Soybean varieties from Pioneer show a 1.3 bushel per acre yield advantage against all competitive varieties, according to data collected on 11,692 direct, on-farm field comparisons in 2009. Among these comparisons, Pioneer® brand soybeans, with the original Roundup Ready® gene, have on average a 2.7 bushel per acre yield advantage against varieties from competitors with the new Roundup Ready® 2 Yield® technology.
Missouri Technology Corporation (MTC) is a private, not-for-profit corporation, established by the Missouri General Assembly. It is charged with leading Missouri’s technology-based economic development strategy, including strengthening of the economy of the state through the development of science and technology; to promote the modernization of Missouri businesses by supporting the transfer of science, technology and quality improvement methods to the workplace; and to enhance the productivity and modernization of Missouri businesses by providing leadership in the establishment of methods of technology application, technology commercialization and technology development.
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.
Forward-Looking Statements: This news release contains forward-looking statements based on management’s current expectations, estimates and projections. The company does not undertake to update any forward-looking statements as a result of future developments or new information. All statements that address expectations or projections about the future, including statements about the company’s strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like “expects,” “anticipates,” “plans,” “intends,” “projects,” “indicates,” and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in DuPont’s filings with the Securities and Exchange Commission, particularly its latest annual report on Form 10-K, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions of countries in which the company does business; competitive pressures; successful integration of structural changes, including acquisitions, divestitures and alliances; research and development of new products, including regulatory approval and market acceptance, and seasonality of sales of agricultural products.
The DuPont Oval Logo, DuPont, The miracles of science, Pioneer® and Accelerated Yield Technology (AYTTM) are registered trademarks or trademarks of DuPont or its affiliates.
Roundup Ready® and Roundup Ready 2 Yield® are trademarks of Monsanto Company.
Contacts:
Doyle Karr
DuPont
515-270-3428
John Fougere
Missouri Depart. of Economic Development
573-522-5058
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