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
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
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
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.
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