ADVFN - Advanced Financial Network.
HOME» NYSE » D » DD Stock Price » DD Stock News

Du Pont E I De Nem Share News

 Du Pont (e.i.) De Nemours & Stock Price
DD Stock Price
 Du Pont (e.i.) De Nemours & Stock Chart
DD Stock Chart
 Du Pont (e.i.) De Nemours & Stock News
DD Stock News
 Du Pont (e.i.) De Nemours & Company Information
DD Company Information
 Du Pont (e.i.) De Nemours & Stock Trades
DD Stock Trades

DuPont Purchase Of African Seed Company Gives Edge Over Monsanto--Executive

DOW JONES NEWSWIRES DuPont Co.'s (DD) purchase of a South African seed producer, approved after more than a year of regulatory delays, gives it roughly double the market share of Monsanto Co. (MON) in the region, a DuPont executive said. DuPont's seed subsidiary, Pioneer Hi-Bred, is buying the company, Pannar Seed Ltd., for an undisclosed sum in a deal that was first announced in 2010. An appeals court approved the deal Monday, overturning other regulatory rejections that had delayed the sale. Pioneer and Pannar, along with St. Louis-based Monsanto Co. (MON), are the top three seed producers in South Africa, with roughly equal market share, said Dan Jacobi, Pioneer's vice president over its commercial business in Africa, Asia-Pacific, China and Europe. Acquiring Pannar gives Pioneer a clear advantage over Monsanto in the region, he said. A Monsanto spokeswoman said the company has farmers growing its corn, cotton and vegetable seeds in Africa, but did not give a breakdown of its seed sales there. Opponents of the Pannar deal focused in on the effect of consolidation on competition in a market where the top three seed companies were Pioneer, Monsanto and Pannar. But Jacobi said that without the deal there would ultimately be two large competitors anyway. "There was no standing still here," he said. "If Pannar wasn't able to find a partner to ramp up their breeding efforts, they wouldn't be viable for very long." South Africa has been the first country on the continent to adopt genetically modified seeds, but Kenya and Ghana are also "on the road" toward genetically modified corn, Jacobi said. Pannar does business in both countries, which made the deal more attractive to Pioneer, Jacobi said. Corn yields across sub-Sarahan Africa lag far behind the U.S., due in part to antiquated technologies. African farmers typically yield about 1.5 metric tons per hectare, Jacobi said, versus 10 metric tons in the U.S. "There's no question in my mind that Africa will get to that level of production," he said. -By Ian Berry, Dow Jones Newswires; 312-750-4072;; Twitter: @enberry

Stock News for Du Pont E I De Nem (DD)
02/05/201617:18:55Statement of Changes in Beneficial Ownership (4)
02/05/201617:18:29Statement of Changes in Beneficial Ownership (4)
02/05/201617:17:37Statement of Changes in Beneficial Ownership (4)
02/05/201617:16:44Statement of Changes in Beneficial Ownership (4)
02/05/201617:15:55Statement of Changes in Beneficial Ownership (4)
02/05/201617:14:35Statement of Changes in Beneficial Ownership (4)
02/05/201616:16:19Filing of Certain Prospectuses and Communications in Connection...
02/03/201603:03:00Dow Chemical CEO To Exit Following Merger
02/02/201616:17:08Statement of Changes in Beneficial Ownership (4)
02/02/201614:08:00ChemChina Nears Deal to Buy Syngenta -- 5th Update
02/02/201612:25:00Dow Chemical CEO Plans to Leave Company After Planned Merger
02/02/201610:37:00ChemChina Nears Deal to Buy Syngenta Stake -- 2nd Update
02/02/201610:00:00ChemChina Nears Deal to Buy Syngenta Stake -- 2nd Update
02/02/201608:35:00ChemChina Nears Deal to Buy Syngenta Stake -- 2nd Update
02/02/201608:20:00ChemChina Nears Deal to Buy Syngenta Stake
02/02/201608:20:00Dow Chemical Profit Tops Expectations
02/02/201608:09:00Dow Chemical Profit Tops Expectations, Even as Revenue Slides...
02/02/201608:08:00ChemChina Nears Deal to Buy Syngenta Stake -- Update
02/02/201608:02:00ChemChina Nears Deal to Buy Controlling Stake in Syngenta
01/27/201620:24:00Chinese Citizen Pleads Guilty to Stealing High-Tech Seeds From...

Du Pont E I De Nem and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2015 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations