Dow Achieves Significant Strategic Milestone As USDA Allows Commercialization of EnlistTM Corn, Soybean
Representing a significant milestone toward the commercialization of Dow’s EnlistTM corn and soybean traits in the United States, the U.S. Department of Agriculture (USDA) yesterday issued its deregulation decisions after concluding one of the most thorough reviews of a biotech trait in history.
“Enlist is a next-generation technology that will drive critical improvements for the agricultural industry. Yesterday’s announcement represents a significant milestone and key catalyst in Dow’s strategic plans for long-term growth and further accelerates the Company’s transformation into one of the world’s most important science and technology companies,” said Andrew N. Liveris, Dow’s Chairman and CEO. “Further, our Dow AgroSciences business continues to outperform its peers, harnessing the power of the strongest commercial pipeline in the business’ history and a leading team of world-class scientists that continue to drive value for shareholders at the intersection of biology and chemistry.”
Dow has doubled the value of Dow AgroSciences over the past five-seven years, while utilizing the profitability of our strong crop protection business to not only build one of the best technology platforms in seeds, but also in crop protection. Leveraging Dow’s global brand, global network, balance sheet, core research and development (R&D) and shared service, Dow AgroSciences has built the fastest-growing seeds business in the industry. Representing the best of both platforms, the commercialization of the Enlist technology will further bolster the earnings power of this R&D engine.
With yesterday’s USDA action, the Company now awaits EPA registration of Enlist DuoTM herbicide, the companion herbicide to the Enlist traits. Approval for Enlist Duo is expected in the near future, and commercial intentions for the technology in 2015 will be provided after the EPA has issued its decision on Enlist Duo herbicide.
“Enlist will help farmers increase their productivity to meet the growing demand for a safe and affordable food supply,” said Tim Hassinger, president of Dow AgroSciences. “We have used the latest science and technology to address their problem weeds. Enlist will be a very effective solution and we are pleased to have this technology one step closer to the farm-gate.”
The Enlist traits are part of the EnlistTM Weed Control System, a new trait and herbicide technology from the Dow AgroSciences business that will empower farmers to control tough weeds using modern farming practices that protect the soil and environment. USDA’s decision applies to the Enlist corn, Enlist soybean and Enlist E3TM soybean traits. Enlist E3 is being developed through a collaboration between MS Technologies LLC and Dow AgroSciences.
“Tools like Enlist will help me do my job more efficiently and productively,” says Brooks Hurst, a farmer from Tarkio, Mo. “That benefits Americans in two ways: It puts food on our tables, and contributes to a healthy economy.”
Dow (NYSE:DOW) combines the power of science and technology to passionately innovate what is essential to human progress. The Company is driving innovations that extract value from the intersection of chemical, physical and biological sciences to help address many of the world’s most challenging problems such as the need for clean water, clean energy generation and conservation, and increasing agricultural productivity. Dow’s integrated, market-driven, industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 180 countries and in high growth sectors such as packaging, electronics, water, coatings and agriculture. In 2013, Dow had annual sales of more than $57 billion and employed approximately 53,000 people worldwide. The Company’s more than 6,000 products are manufactured at 201 sites in 36 countries across the globe. References to “Dow” or the “Company” mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.
About Dow AgroSciences
Dow AgroSciences, based in Indianapolis, Indiana, USA, is committed to discovering, developing, and bringing to market crop protection and plant biotechnology solutions for the growing world. Dow AgroSciences is a wholly owned subsidiary of The Dow Chemical Company and had annual global sales of $7.1 billion in 2013. Learn more at www.dowagro.com. Follow Dow AgroSciences on Facebook, Twitter, and LinkedIn or subscribe to our News Release RSS Feed.
(R)TM DOW Diamond, Enlist, are trademarks of The Dow Chemical Company (“Dow”) or an affiliated company of Dow. Enlist E3 soybeans are a joint collaboration between Dow AgroSciences and MS Technologies. Regulatory approvals are pending for the Enlist Duo herbicide solution. The information presented here is not an offer for sale. Always read and follow label directions. (c)2014 Dow AgroSciences LLC
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