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Corteva Agriscience completes separation from DowDuPont
June 3, 2019 By Top Crop Manager
Corteva Agriscience, the seed and crop protection company, completed its separation from DowDuPont to become its own agriculture company on June 3, 2019.
DowDuPont was formed in 2017 through the merger of chemical companies Dow Chemical and DuPont, and is now in the process of splitting into three separate business units: Dow, DuPont and Corteva Agriscience.
Dow Inc. spun off on April 1, 2019 and makes chemicals used in cosmetics, paint and packaging. DuPont makes chemicals used in semiconductors, brake fluids and lubricants. Corteva is focused on the agriculture industry, producing corn, soybean, cotton and sunflower seeds alongside a variety of insecticides and herbicides.
With a presence in more than 140 countries, Corteva Agriscience generated $14 billion in net sales in 2018. Corteva has more than 150 research and development facilities and more than 65 active ingredients.
The Company is headquartered in Wilmington, Delaware with Global Business Centers in Johnston, Iowa and Indianapolis, Indiana and five regional offices in Calgary, Canada; Johannesburg, South Africa; Geneva, Switzerland; Singapore; and Alphaville, Brazil.
The distribution of Corteva common stock was completed on June 1, with each DowDuPont stockholder of record receiving 1 share of Corteva common stock for every 3 shares of DowDuPont common stock held as of the close of business on May 24, 2019. DowDuPont stockholders will also receive cash in lieu of any fractional Corteva shares. Corteva common stock begins trading today on the New York Stock Exchange (NYSE) under its new ticker symbol “CTVA.”
