DowDuPont ag business to be called Corteva Agriscience
DowDuPont is to rename its agriculture business Corteva Agriscience when it is spun off as an independent operation.
DowDuPont is to rename its agriculture business Corteva Agriscience when it is spun off as an independent operation. That is expected by June 1st 2019. The business will be based in Wilmington, Delaware. The material science business will retain the Dow name and the specialty products business will be called DuPont.
The Corteva name is derived from words meaning “heart” and “nature”, DowDuPont points out. “Our name reflects our purpose: enriching the lives of those who produce and those who consume, ensuring progress for generations to come,” says James Collins, chief operating officer of the company’s agriculture division. “With the most balanced portfolio of products in the industry, nearly a century of agronomic expertise, and an unparalleled innovation engine, we are creating a new agriculture company that will work together with the entire food ecosystem to produce a secure supply of healthy food sustainably and efficiently.”
The agriculture division posted pro forma sales of $14,342 million and operating earnings before interest, tax, depreciation and amortisation of $2,611 million in 2017. Crop protection sales fell by 1% to some $6,100 million and seed sales grew by 5% to some $8,200 million.