Strengthens Growing Seed Business in India
Hyderabad, India (Vocus) June 25, 2009 -- DuPont today announced it has made two cotton acquisitions in India to enhance its product lineup and strengthen its growing business here. DuPont business Pioneer Hi-Bred has purchased the cotton seed business of Nandi Seeds, based in Mehboob Nagar, Andhra Pradesh, India, and acquired cotton germplasm from Nagarjuna Seeds, based in Secunderabad, Andhra Pradesh, India.
“These acquisitions will help us enter the cotton seed market here and meet the needs of Indian farmers who grow more than 9 million hectares of cotton each year – more than anywhere else in the world,” said K.V. Subbarao, country manager -- Pioneer India. “Cotton is a natural fit for Pioneer in India. It completes our high-value product and service offering to farmers and enables us to further strengthen our growing seed business here.”
Pioneer currently offers corn, rice, pearl millet, sunflower and mustard in the Indian market and has grown revenue 40 percent annually for the last five years to reach about $70 million in 2008.
“Agriculture, food and nutrition is a key growth segment for DuPont in India, and these acquisitions are part of the company’s strategy to expand its presence here,” said Balvinder S. Kalsi, president -- DuPont India. &ldq
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