May 21 2010
DuPont (NYSE: DD) is the only company cutting across both renewable materials and fuels with clearly advantaged biotechnology abilities, providing the market-driven science company with step-change growth opportunities, said DuPont Applied BioSciences Vice President John P. Ranieri at Barclays Capital Chemical 'ROC Stars' conference today.
"DuPont Applied BioSciences business was able to grow through the downturn by offering renewable materials that are high performing and cost effective, a combination that is unmatched in the market today," Ranieri said. "Our unique access to production agriculture through Pioneer Hi-Bred and our global reach allows us to capture insights from farmers and customers around the globe. When you combine this with collaboration with strong partners such as Tate & Lyle, BP and Danisco that accelerate our progress and pace, it creates a strong and unrivaled value proposition. Our goals are realistic and achievable."
In response to global population growth and the rising middle class in developing geographies, DuPont has focused its market-driven science, its investments and its employees on delivering against four global trends: increasing food production; decreasing dependence on fossil fuels; protecting lives and the environment and providing science-based solutions to emerging markets. "These trends drive above-trend line growth in many areas of the company and are important drivers for our Applied BioSciences businesses," Ranieri said.
Ranieri reiterated the goals for the Applied BioSciences business of $1 billion in revenue and $250 million in pre-tax earnings by 2015. The business will do this by achieving strong growth in its BioMaterials and BioFuels programs which range from renewably sourced apparel and carpeting to vegetarian omega-3 nutritional supplements, as well as new technologies to deliver low-cost cellulosic ethanol and biobutanol biofuels.
Source: http://www.dupont.com/