New Facility in Oregon Will Help Ramp Up New Corn Hybrids Faster.
Des Moines, Iowa (Vocus) November 6, 2008 -– DuPont today announced plans to construct a parent seed corn production facility in Hermiston, Ore. The expansion is one of many steps DuPont business Pioneer Hi-Bred is taking to ensure it meets rising demand for Pioneer® brand products and help farmers meet the strong global demand for grain.
The location will produce parent seed corn and pre-commercial hybrid seed corn. DuPont, which recently acquired 40 acres of land in Hermiston, expects initial operation to begin fall 2009 after construction of the facility is completed. The project represents a capital investment of more than $15 million.
“This location strengthens our ability to bring new products to the market faster and to help farmers increase their productivity,” said Paul E. Schickler, Pioneer president and DuPont vice president and general manager.
“We anticipate high demand for hybrids with our new Optimum® GAT® trait, which will offer farmers additional unique weed control options. The new Hermiston facility will help ensure that demand is met,” Schickler said.
Hermiston is the first facility for Pioneer in Oregon, although the business sells corn, soybean, canola, sunflower and sorghum seed in the state.
Today’s announcement is part of an 80 percent year-over-year increase in capital expenditures by Pioneer in 2008. Additional expansion projects are under way at numerous Pioneer locations throughout North America to meet customer demand for its seed products.
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.
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