DuPont expands corn business in China

DuPont announced a plan to double its China investment by 2010. The new partnership, Dunhuang Seed Pioneer Hi-Bred Company, will be 49% owned by the U.S. firm's subsidiary Pioneer Hi-Bred International and 51% by China's Dunhuang Seed Co. It aims to bring some strong new hybrid corn products to the Chinese market. A series of projects, including this second seed joint venture, is under construction or negotiation to help achieve this goal. Pioneer first established a business representative office in Beijing in 1997. In late 2002, Pioneer established a summer corn joint venture in China--Shandong Denghai Pioneer Seeds Co. The first commercial sale was in 2004. The business has achieved solid growth since then, said the firm. (December 14, 2006)