DuPont Prevails in PROaccessSM Arbitration With Monsanto
Farmers continue to have choices in the marketplace
An arbitration panel has ruled in favor of DuPont in a dispute filed by Monsanto in May 2009. In the arbitration, Monsanto alleged that DuPont business Pioneer Hi Bred's PROaccessSM genetics distribution relationships breached Pioneer's Roundup Ready® corn and soybean licenses with Monsanto. The arbitrators' ruling denied Monsanto's claims for damages and for injunctive relief. The written decision is confidential.
"Today's ruling is good news for farmers who have shown support for choices in the marketplace by their purchases of seed through PROaccessSM genetics affiliates and distributors," said Paul E. Schickler, Pioneer president. "The arbitration panel's decision affirms DuPont's commitment to bring choices to the farmer."
"We are pleased to continue business as usual and put this dispute behind us," said Schickler. "The PROaccessSM business is an important part of Pioneer's success. Early season sales indicate 2012 will be another strong year for us."
Through its PROaccessSM business model, launched in 2008, Pioneer has acquired seven U.S. seed companies and maintains distribution relationships with two unaffiliated U.S. seed companies.
Pioneer Hi-Bred (www.pioneer.com), a DuPont business headquartered in Des Moines, Iowa, is the world's leading developer and supplier of advanced plant genetics, providing high-quality seeds to farmers in more than 90 countries. Pioneer provides agronomic support and services to help increase farmer productivity and profitability and strives to develop sustainable agricultural systems for people everywhere. Science with Service Delivering SuccessTM.
DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit http://www.dupont.com.