Confidence in Meeting Milestone Increases with Majority of U.S. Corn Fields Planted
WILMINGTON, Del., May 21, 2008 – Following this week’s USDA planting progress report that showed more than 70 percent of the U.S. corn acres have been planted, DuPont today reaffirmed its expectations of achieving at least 30 percent North America seed corn market share for 2008 and growing share for the region in future years.
"Our confidence in our early estimates has increased as the number of acres planted has advanced," said Paul Schickler, DuPont vice present and general manager and president of DuPont business Pioneer Hi-Bred.
Key milestones for Pioneer in 2008 are: delivering North America seed corn market share at levels at least equal to last year; extending its soybean leader position; and growing its presence in other key markets around the world.
"We will have better information on how we performed this season after all the corn is planted," Schickler said. "Though this year’s cold, wet spring has kept planting progress behind historical trends, we are pleased with the demand for Pioneer® brand seed thus far."
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. 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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Contact:
Doyle Karr
515-270-3428