Corteva completes global separation from DowDuPont

Corteva,has successfully completed its separation from DowDuPont, becoming a leading, global pure-play agriculture company that offers the complete solutions farmers need to maximize yield and profitability. Corteva Agriscience has launched today with a global scale and a balanced offering across seed and crop protection, underpinned by expanding digital capabilities and powered by the richest innovation pipeline in the industry.

The distribution of Corteva common stock was completed on June 1, with each DowDuPont shareholder of record receiving 1 share of Corteva common stock for every 3 shares of DowDuPont common stock held as of the close of business on May 24, 2019.  DowDuPont shareholders will also receive cash in lieu of any fractional Corteva shares. Corteva common stock begins trading today on the New York Stock Exchange (NYSE) under its new ticker symbol “CTVA”.

“Today marks the launch of a new kind of agriculture company, uniquely positioned to compete and win by providing farmers the complete solution they need for sustainable, long-term growth and improved profitability,” said Jim Collins, chief executive officer of Corteva Agriscience. “As a global leader in the combined $100 billion seed and crop protection market, Corteva Agriscience has the most robust pipeline in the industry, a world-class innovation engine, and advantaged routes to market that provide us with unparalleled customer intimacy – all of which will fuel our growth as an independent company and drive value for shareholders. Our more than 21,000 dedicated employees are committed to fulfilling our purpose to enrich the lives of those who produce and those who consume, ensuring progress for generations to come.”

With a presence in more than 140 countries, Corteva Agriscience generated $14 billion in net sales in 2018. The Company has more than 150 research and development facilities and more than 65 active ingredients.

Commenting on Corteva Agriscience’s first day of trading as an independent, pure-play global agriculture leader, Adrian Gough, Country Leader of Corteva UK & Ireland, said: “Today is the culmination of more than a century of innovation and expertise in UK crop protection and seed.

“The integrity of our heritage brands was hard-earned but deserved for the depth and breadth of great products they delivered UK farmers. We will continue to build on that solid foundation to deliver new revolutionary solutions for our customers.
“We have the richest pipeline in the industry boasting recent ground-breaking active ingredients and new products to come in the next three years. This innovation pipeline is our core strength as we build our new business centred on maximizing yields and profitability for farmers, and with a larger base and combined resources we will bring even more value to our customers and the wider industry.

“When it comes to discovery targets and production, we will be able to dedicate significant resource to developing solutions that deliver real benefit to farmers.

“Likewise, we are able to take a more collaborative approach with farmers, food producers and consumers – working closer together to understand their concerns and needs, then tailoring our solutions to them.”

Commenting on Corteva Agriscience’s first day of trading as an independent, pure-play global agriculture leader, Adrian Gough, Country Leader of Corteva UK & Ireland, said: “Today is the culmination of more than a century of innovation and expertise in UK crop protection and seed.

“The integrity of our heritage brands was hard-earned but deserved for the depth and breadth of great products they delivered UK farmers. We will continue to build on that solid foundation to deliver new revolutionary solutions for our customers.

“We have the richest pipeline in the industry boasting recent ground-breaking active ingredients and new products to come in the next three years. This innovation pipeline is our core strength as we build our new business centred on maximizing yields and profitability for farmers.
“And with a larger base and combined resources we will bring even more value to our customers and the wider industry.

“When it comes to discovery targets and production, we will be able to dedicate significant resource to developing solutions that deliver real benefit to farmers.

“Likewise, we are able to take a more collaborative approach with farmers, food producers and consumers – working closer together to understand their concerns and needs, then tailoring our solutions to them.”

 

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About The Author

John Swire - Deputy editor of Agronomist and Arable Farmer as well as responsibility for the Agronomist and Arable Farmer and Farm Business websites. After 17 years milking cows on the family farm John started writing about agriculture in 1998 and has since written for a variety of publications and has developed a wide circle of contacts within the industry. When not working John is a season ticket holder at Stoke City and also of late has become a fitness freak, listing cycling, swimming and walking as his exercises of choice.