DowDuPont introduces stand-alone agriculture division – Corteva Agriscience
Restructuring after the completion of the merger of Dow Chemical Company and DuPont in late 2017, the company has announced its new agriculture spin-off: Corteva Agriscience. The DowDuPont business combines DuPont Crop Protection, DuPont Pioneer, and Dow AgroSciences.
The name was derived from a combination of words meaning “heart” and “nature,” according to the company press release. Headquarters will be in Wilmington, Delaware, with Global Business Centers in Johnston, Iowa, and Indianapolis, Indiana, while support functions, sales and marketing, and more will be located in two Midwest facilities.
Chief Operating Officer James C. Collins, Jr., said in a press release that the agriculture division was progressing towards its cost synergy commitment of approximately $1.1 billion, with about $300 million of that expected in 2018. He also noted that critical programs underway – in advanced biotechnology, crop protection, and agronomic solutions – are expected to deliver peak sales of $22 billion over the long term.
The division is not expected to become an independent company until June of 2019, and until such time DowDuPont will support the brand with recognition events.