DES MOINES, Iowa, Jan. 3, 2017 /PRNewswire/ --
Origin Gains Access to non-GM Corn Seed Products for the U.S.
from DuPont Pioneer
Origin Agritech Ltd. (Nasdaq: SEED) ('the Company" or "Origin"),
an agricultural biotechnology trait and seed provider, recently
signed a definitive agreement with DuPont Pioneer, the advanced
seed and genetics business of DuPont (NYSE: DD). Under the terms of
the agreement, Origin will gain access to non-GM corn seed products
from DuPont Pioneer. Origin anticipates having commercial seed
products available for sale in the U.S. market for spring 2017
planting. Additional terms and financial details of the agreement
were not disclosed.
"This agreement with DuPont Pioneer is a critical first step
toward launching Origin's North
America strategic Pillar III, focused on serving the
non-GM/Organic markets," said Bill
Niebur, Origin CEO. "We look forward to offering these
products to U.S. farmers through a novel, digitally-enabled route
to market while building a platform from which Origin can continue
to grow."
This is Origin's second business agreement with DuPont. The
companies announced in April a commercial agreement to jointly
develop new seed technologies in China for Chinese farmers.
"We are pleased with the opportunity to continue to do business
with Origin," said Bart Baudler,
Commercial Unit Lead, PROaccess. "Through this agreement, Origin is
strengthening its ability to diversify its genetic and product
choices for farmers."
Origin recently released advances in its Pillar I and II growth
platforms. Today's announcement supports progress in the
launch of its Pillar III: North
America non-GM/Organic growth platform.
"Today's announcement helps advance our business model of
creating value by connecting growers and end users—while providing
services along the value chain," said Christine Bobst, Origin North America Business
Director. "We are looking forward to serving the non-GM/Organic
markets in new and different ways as we pursue a full slate of
agricultural products, technology and service offerings."
Origin Agritech Limited, founded in 1997 and
headquartered in Zhong-Guan-Cun (ZGC) Life Science Park in
Beijing, is China's leading agricultural biotechnology
company, specializing in crop seed breeding and genetic
improvement, seed production, processing, distribution, and related
technical services. Leading the development of crop seed
biotechnologies, Origin Agritech's phytase corn was the first
transgenic corn to receive the Bio-Safety Certificate from
China's Ministry of Agriculture.
Over the years, Origin has established a robust biotechnology seed
pipeline including products with glyphosate tolerance and pest
resistance (Bt) traits. Origin operates production centers,
processing centers and breeding stations nationwide with sales
centers located in key crop-planting regions. Product lines are
vertically integrated for corn, rice and canola seeds. For further
information, please visit the Company's website at:
http://www.originseed.com.cn or
http://www.originseed.com.cn/en/.
DuPont Pioneer is the world's leading developer
and supplier of advanced plant genetics, providing high-quality
seeds to farmers in more than 90 countries. Pioneer provides
agronomic support and services to help increase farmer productivity
and profitability and strives to develop sustainable agricultural
systems for people everywhere. Science with Service Delivering
Success®.
Forward-Looking Statements
This communication contains "forward-looking statements"
within the meaning of the federal securities laws, including
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. In this
context, forward-looking statements often address expected future
business and financial performance and financial condition, and
often contain words such as "expect," "anticipate," "intend,"
"plan," "believe," "seek," "see," "will," "would," "target,"
similar expressions, and variations or negatives of these words.
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain, such as statements about the
consummation of the proposed transaction and the anticipated
benefits thereof. Forward-looking statements are not guarantees of
future performance and are based on certain assumptions and
expectations of future events which may not be realized.
Forward-looking statements also involve risks and uncertainties,
many of which are beyond the company's control. Some of the
important factors that could cause the company's actual results to
differ materially from those projected in any such forward-looking
statements are: fluctuations in energy and raw material prices;
failure to develop and market new products and optimally manage
product life cycles; ability to respond to market acceptance,
rules, regulations and policies affecting products based on
biotechnology and, in general, for products for the agriculture
industry; outcome of significant litigation and environmental
matters, including realization of associated indemnification
assets, if any; failure to appropriately manage process safety and
product stewardship issues; changes in laws and regulations or
political conditions; global economic and capital markets
conditions, such as inflation, interest and currency exchange
rates; business or supply disruptions; security threats, such as
acts of sabotage, terrorism or war, natural disasters and weather
events and patterns which could affect demand as well as
availability of products for the agriculture industry; ability to
protect and enforce the company's intellectual property rights; and
successful integration of acquired businesses and separation of
underperforming or non-strategic assets or businesses. The company
undertakes no duty to publicly revise or update any forward-looking
statements as a result of future developments, or new information
or otherwise, should circumstances change, except as otherwise
required by securities and other applicable laws.
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SOURCE Origin Agritech Limited