DuPont Agriculture and Nutrition Restructures

Company plans to up focus on plant genetics and seed business.

Dupont Agriculture and Nutrition announced Monday that it plans to restructure in favor of plant genetics, biotechnology, and other high-growth opportunities, while lowering operating costs by about $100 million in low-growth areas of its crop protection and nutrition businesses. The money saved from lower operating costs will be reinvested in DuPont's seed business, the company says.

"We are aggressively adjusting our capital and resource allocation to the highest value growth opportunities for our customers and shareholders," says Erik Fyrwald, group vice president, DuPont Agriculture & Nutrition.

DuPont's seed sales outside North America surpassed $1 billion for the first time in 2006.

"Our seed products are performing very well around the globe. Our competitive yield advantage improved in 2006 and that is going to mean significantly improved financial performance for the business in 2007."

The company plans to consolidate and refocus its assets and strategies in nutrition and crop protection businesses in order to save money.

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