DuPont and Syngenta Enter into Crop Protection Technology Exchange
WILMINGTON, Del., and BASEL, Switzerland, June 24, 2008 -- Syngenta and DuPont today announced an agreement that will broaden each company’s crop protection product portfolios and enable them to bring new products to market more efficiently. Financial terms of the agreement were not disclosed.
The companies will share the costs to prepare the regulatory studies for DuPont™ Cyazypyr™, a new broad spectrum insecticide for the control of lepidoptera and sucking pests, leading to expanded global registrations and commercialization opportunities for both companies. Cyazypyr™ is complementary to the DuPont™ Rynaxypyr™ insect control product that Syngenta is developing in mixtures with its own leading insect control products.
Under the agreement, Syngenta will also grant DuPont access to mesotrione, the active ingredient in Callisto®. DuPont will develop mixtures with their proprietary herbicides for use on corn and sugarcane.
“This agreement gives Syngenta access to new chemistry to develop broad spectrum solutions in the global insecticide market, estimated at around $8 billion,” said John Atkin, chief operating officer -- Syngenta Crop Protection. “These products, which are highly complementary to our portfolio and pipeline, will provide additional options for growers to better control pests and increase yields. The mesotrione agreement further expands the opportunity for this market-leading technology.”
“This is another external acknowledgement of the quality of the DuPont pipeline of crop protection products, as well as an innovative step in the DuPont strategy to bring new pipeline products to our customers faster and with broader labels than ever before,” said James C. Collins, vice president and general manager -- DuPont Crop Protection.
“This agreement expands our offerings and enables DuPont to make additional investments in our future pipeline to deliver answers that will help our customers improve their productivity and profitability both today and in the future.”
Syngenta is a world-leading agribusiness committed to sustainable agriculture through innovative research and technology. The company is a leader in crop protection and ranks third in the high-value commercial seeds market. Sales in 2007 were approximately $9.2 billion. Syngenta employs over 21,000 people in more than 90 countries. Syngenta is listed on the Swiss stock exchange (SYNN) and in New York (SYT). Further information is available at www.syngenta.com.
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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6/24/08
The DuPont Oval Logo, DuPont™, The miracles of science™, Rynaxypyr® and Cyazypyr™ are registered trademarks of DuPont or its affiliates.
Callisto® is a registered trademark of Syngenta.
