DuPont forms joint venture with Chinese company
Chemical company DuPont Co. said Tuesday that its Pioneer Hi-Bred International Inc. unit is forming a joint venture with Chinese seed company Dunhuang Seed Co. to provide corn hybrids to Chinese farmers in the spring market.
The new joint venture will be called Dunhuang Seed Pioneer Hi-Bred Company
Ltd and will be responsible for developing and distributing high-yielding corn
hybrids.
The joint venture plans to produce seed in 2007 for sale in
2008. Dunhuang Seed owns 51% of the venture, while Pioneer owns the remaining
49% stake.
Growing presence in China
“This venture is part of a
broader DuPont commitment to growing its presence in China by putting our
science to work,” Douglas Muzyka, president of DuPont Greater China and DuPont
China Holding Co., said in a statement.
Related links:
Pioneer
Hi-Bred
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