Chairman and CEO Chad Holliday Updates Investors on Growth Opportunities
NEW YORK, May 30 /PRNewswire-FirstCall/ -- At an investors' conference here today, DuPont Chairman and CEO Charles O. Holliday, Jr., said the company is accelerating growth through DuPont innovation that addresses global macro trends related to food, safety and security, and renewable energy.
"DuPont is a market-driven science company," Holliday said at the Sanford Bernstein Strategic Decisions Conference. "The very core of our competitive advantage is scientific discovery and new product innovation. We have aligned our technical capability with key external trends to drive growth faster.
"Science has the potential to help feed the world, provide safer and more secure lives for people everywhere, and address global energy challenges," Holliday added. "DuPont is pursuing science-based solutions that meet customer and market needs, while providing value for our shareholders and society in general."
Holliday noted that global population growth is the common denominator driving both needs and demand in the areas of agricultural productivity, safety and security, and renewable energy. According to the United Nations, the world's human population has grown from about 2.5 billion in the mid-20th Century to more than 6.5 billion today, with projections rising to an estimated 9 billion people by 2050.
Agricultural Productivity. To accommodate the rising demand for food and dietary protein by the world's population between now and 2025, global food production will need to double on virtually the same amount of land currently in production, Holliday said.
DuPont, one of the largest producers of corn seed in the world, is using biotechnology to develop insect-resistant hybrids to improve productivity, quality and yield and to accelerate breeding step changes and rate of genetic gain. "We have a rich pipeline of new products under development to enhance yield and nutrition through science, and we are well-positioned in key global markets as more countries adopt biotech seed," Holliday said.
Safety and Security. "The company's safety expertise and highly differentiated product offerings position it well to service the basic need for people to feel safe and secure at home, at work and at play. Capacity expansions are under way to meet strong global demand for products such as DuPont(TM) Kevlar(R) and Nomex(R)," Holliday said.
Renewable Energy. As economies modernize in emerging markets, the demand for hydrocarbon resources is increasing dramatically, further contributing to climate change and other environmental impacts. "We need to rethink the way we source and use energy and work to minimize the amount of carbon we put into the atmosphere," Holliday said.
He noted that DuPont is anticipating increased demand for renewable energy sources by developing products and technologies for photovoltaics and advanced biofuels, such as cellulosic ethanol -- a next generation biofuel produced from non-food sources.
Holliday said DuPont's sales into photovoltaics within five years will be over $1 billion -- up from about $300 million today. He noted that DuPont and Genencor, a division of Danisco A/S, announced an agreement earlier this month to form DuPont Danisco Cellulosic Ethanol LLC, a 50/50 global joint venture to develop and commercialize the leading, low-cost technology solution for the production of cellulosic ethanol to address a $75 billion global market opportunity.
DuPont (NYSE: DD) 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. 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, Kevlar(R) and Nomex(R) are registered trademarks or trademarks of DuPont or its affiliates.
Copyright©2008 PR Newswire.
All rights reserved