DES MOINES, Iowa, June 29, 2005 - DuPont today announced that it has entered into a research collaboration with Japan Tobacco Inc., (JT) for development of yield related traits in plants. Scientists at Pioneer Hi-Bred International, Inc., a DuPont subsidiary and a world leader in agricultural plant genetics, will work directly with JT. Terms of the agreement were not disclosed.
"We are excited with the progress and findings to date, and anticipate the knowledge gained through this relationship will help us achieve our goal of doubling our rate of yield gain by 2014, thereby growing our industry-leading yield advantage," declared Jim Miller, vice president DuPont Crop Genetics Research and Development. "Yield is one of the most important agronomic traits for farmers around the world, and it's a top priority in our research program."
JT has developed a proprietary screening system for evaluating yield and yield-related parameters in rice plants. The screening system has already identified a number of promising leads that the companies plan to further evaluate in several important row crops.
"JT's proprietary trait screening system represents a novel approach to evaluating a diverse set of genes in crops of interest to Pioneer," said Miller. "This collaboration will identify key genes and produce valuable traits that will enhance our product development pipeline, including products that maintain yields under stressful environmental conditions such as drought."
"JT strongly believes that this collaboration will provide Pioneer with effective solutions to improve yield of several important crops and broad expertise of Pioneer will help JT further strengthen its trait exploration capability," said Kazuei Obata, Executive Deputy President of JT.
Japan Tobacco Inc. is the world's third largest international manufacturer of tobacco products. The company manufactures internationally recognized cigarette brands including Camel, Winston, Mild Seven and Salem. Since its privatization in 1985, JT has actively diversified its operations into pharmaceuticals and foods. The company's net sales were JPY 4,664 trillion in the fiscal year ended March 31, 2005.
Pioneer Hi-Bred International, Inc., a subsidiary of DuPont,
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, crop protection solutions and quality crop systems to customers in nearly 70 countries. DuPont is a science 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, nutrition, electronics, communications, safety and protection, home and construction, transportation and apparel.
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 documents filed with the Securities and Exchange Commission by DuPont, particularly its latest annual report on Form 10-K and quarterly report on Form 10-Q, 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, including inflation, interest and foreign currency exchange rates of countries in which the company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw materials, research and development of new products, including regulatory approval and market acceptance; and seasonality of sales of agricultural products.