SOFIA, Bulgaria, Nov. 27, 2007 – As part of its growth strategy for emerging markets, DuPont today announced the opening of its first office in Sofia, Bulgaria. The Sofia office represents DuPont’s growing market reach in Central Europe, following site openings in Poland, the Czech Republic, Hungary, Romania, Baltic countries and Serbia, the latter just last week.
More than 500 DuPont employees are based in the region.
“Eastern and Central Europe are important markets in executing DuPont’s strategy of ‘going where the growth is,’” said Ian Hudson, president – DuPont Europe, Middle East and Africa. “While this marks our first office in Bulgaria, DuPont has had a sales and marketing presence in the country since 1991. Central Europe is a critical growth area for us as we expand our market reach.”
Key DuPont markets for the region include agriculture, food processing, construction, automotive and refining and petrochemicals. Construction is the fastest growing sector of Bulgarian industry, according to data from the latest Conference on Trade & Development World Investment, which took place last week in Sofia. DuPont’s business in Bulgaria is led by its strong agriculture and nutrition presence in soybean products, seeds and crop protection products. The Sofia site will provide access to customers in the rapidly growing markets of Bulgaria, Macedonia and Albania.
“This region contributes significantly to DuPont sales and revenue”, said Hartmut Reinke, director DuPont Eastern, Central Europe, Middle East and Africa (ECEMEA). “Almost 20% year-over-year sales growth in Eastern and Central Europe ranks it among the fastest growth regions in DuPont after first three quarters of 2007”. Thierry Marin, regional director for Central Europe added: “Over the same period, more than 20% of EMEA (Europe, Middle East and Africa) revenue comes from emerging markets in the region. Bulgaria alone represents a two-digit share of Central Europe revenue and this is an extraordinary regional success. Offering science-based high quality products and remaining very close to our customers represent our major advantages”.
DuPont has been present in Bulgaria since 1991. Under the umbrella of One DuPont, together with its subsidiary Pioneer and the joint venture Solae, local sales, marketing and administration specialists have recently been hired in Bulgaria. “Establishing one DuPont consolidated office is the first important step towards further growth. Next year we will focus on expanding our presence in Bulgaria, which according to the World Investment Report, is the 7th country in terms of Foreign Direct Investment to Gross Domestic Product ratio”- said Plamen Gospodinov, Area Business Development Manager for Bulgaria, Macedonia, Albania, Serbia and Montenegro.
DuPont’s advantage in the agricultural and nutrition industry segments is its wide portfolio of science based solutions. The offer includes Solae™ soy products such as Supro®, Pioneer high quality seeds, herbicides and fungicides like DuPont™ Granstar® or DuPont™ Titus® and many others.
Solae™ manufactures and markets high-quality soy protein and soy fiber ingredients for a variety of healthy food and nutrition applications around the world. Bulgaria is the country where we serve more and more customers. Our revenues grow 20% every year” – said Stanimir Tsonev, Sales Manager for Solae™ in Bulgaria. “As a world-wide leader applying food processing technology with customers in their production facilities, our main objectives for next year are based on further development of the food business with introducing Supro® Max 5000 and new generation of Supro® EX37, as well as expansion into the milk and beverages markets”. ”Stanimir added.
For Pioneer, Chavdar Dochev, Sub-Regional Operations Manager Bulgaria/Romania summarizes as follows: “Pioneer’s growth has been tremendous in the past years and we anticipate increasing opportunities in this region. We provide our customers with unique technology, like Express® resistant sunflower hybrid, and Bulgaria is a worldwide leader according to the market value reached from Granstar® Technology Sunflower products. We continue to invest in people and in research in the region to help meet growing demand. Our main goal here is to help farmers in weed control”.
DuPont also offers a range of innovative solutions to the construction sector, enabling building professionals, architects and designers worldwide to enhance the safety, sustainability, comfort and design of the buildings. Products like DuPont™ Tyvek® - a breathable membrane that acts as a secondary weather barrier, protecting roofs and walls while improving the energy efficiency of buildings by reducing air infiltration, DuPont™ Corian® surfaces and DuPont paints and coatings are just some of the solutions available, be it for indoors, outdoors, infrastructure, residential or commercial buildings. “In March 2008, DuPont will participate in a construction fair in Sofia with its full construction offer. We will show architects how DuPont applications can make people’s lives easier and more comfortable” – Plamen Gospodinov adds.
Next year, Bulgarian paints and coatings company Megachim and DuPont will launch a new product based on a know-how exchange under a trademark license agreement signed in June 2007. As a result of this agreement, DuPont Titanium Technologies (DTT) and Megachim recently announced a five-year partnership to launch a paint portfolio of architectural coatings that will be marketed under the DuPont(TM) Teflon(R) brand. Megachim is receiving technical and marketing support in the development of high quality paint products using new Teflon(R) surface protector additive technologies.
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.
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Photo of DuPont Bulgaria Office:
Caption: DuPont employees celebrate the opening of the company's first office in Sofia, Bulgaria.
