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MarketScreener Homepage  >  Equities  >  Nyse  >  Corteva, Inc.    CTVA

CORTEVA, INC.

(CTVA)
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Corteva : Opens Multi-crop, Multipurpose Research Center in Szeged, Hungary

09/03/2020 | 01:09pm EST
Home / Media Center / Corteva Opens Multi-crop, Multipurpose Research Center in Szeged, Hungary
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Press Release • 9/3/2020 Corteva Agriscience Opens New Multi-crop, Multipurpose Research Center in Szeged, Hungary

Advanced scientific capabilities in both seed and crop protection will focus on developing sustainable solutions for farmers across Europe

BUDAPEST, Hungary, September 3, 2020 - International pure-play agriculture company Corteva Agriscience announced that it has unified and enhanced its seed and crop protection research capabilities within a multi-crop and multipurpose research center located in Szeged, Hungary. The center serves as a hub where Corteva Agriscience R&D team members collaborate to develop ground-breaking and sustainable agricultural solutions for farmers across Europe and the world.

With a total investment of USD 1.9 million, the newly integrated Szeged Center is one of Corteva's largest multi-crop, multipurpose research centers in Europe. The new location employs 34 people, including eight scientists, who focus on innovation in seed and crop protection.

The plant breeding team housed at Szeged is responsible for corn and sunflower breeding and product development of Corteva's elite germplasm. The team develops hybrids with advanced yield potential and agronomic qualities, including heat stress tolerance, a prevalent condition in continental Europe. The team's prior breeding work has contributed to many market-shaping products, including Pioneer® brand ExpressSun® herbicide-tolerant sunflower hybrids, high-oleic sunflower seeds and the market-leading Pioneer® brand Optimum® AQUAmax® corn product line. The team's parent characterization capabilities and production research activities also support Corteva's seed production facility in nearby Szarvas.

The Integrated Field Science team housed at Szeged focuses on developing new weed, insect and disease management solutions, as well as seed applied technologies and biologicals through in-field research and trialing.

'This is a very important milestone in the history of Corteva Agriscience, as three significant R&D units are united to collaborate and deliver advanced solutions for farmers of Hungary and other European countries. With this integration, we are establishing a creative environment for innovation and operational excellence using the synergies of three previously separate facilities. In keeping with our recently announced Sustainability Goals 2030, we remain unwavering in our commitment to develop and deploy innovative and sustainable agricultural solutions for the greater good of our customers, consumers and the communities we serve,' said Abelardo De La Vega, Corteva Agriscience plant breeding leader for Europe. 'This includes taking steps to ensure that every new product concept that Corteva Agriscience develops will meet specific sustainability criteria of farmers and consumers before it is moved into the pipeline.'

'As part of Corteva Agriscience's mission to offer farmers complete solutions that help maximize their productivity, we are excited to combine the complementary expertise and experience of our scientists,' added Andreas Huber, Integrated Field Sciences Leader in EMEA, Corteva Agriscience.

About Corteva Agriscience
Corteva Agriscience is a publicly traded, global pure-play agriculture company that provides farmers around the world with the most complete portfolio in the industry - including a balanced and diverse mix of seed, crop protection and digital solutions focused on maximizing productivity to enhance yield and profitability. With some of the most recognized brands in agriculture and an industry-leading product and technology pipeline well positioned to drive growth, the company is committed to working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. Corteva Agriscience became an independent public company on June 1, 2019, and was previously the Agriculture Division of DowDuPont. More information can be found at www.corteva.com.

Follow Corteva Agriscience on Facebook, Instagram, LinkedIn, Twitter and YouTube.

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03/09/20

™ ,®, ℠ Trademarks and service marks of Dow AgroSciences, DuPont or Pioneer, and their affiliated companies or their respective owners.

Media contact

József Máté, Corporate Communications Leader, Europe
Tel: +41 22 775 36 70, Mob: +41 79 597 2709
jozsef.mate@corteva.com

Anna Babich, Corporate Communications Manager, Central & Eastern Europe
Mob: +38 050 418 2597
anna.babich@corteva.com

Disclaimer

Corteva Inc. published this content on 03 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 September 2020 17:09:06 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 13 973 M - -
Net income 2020 688 M - -
Net cash 2020 1 333 M - -
P/E ratio 2020 40,5x
Yield 2020 1,37%
Capitalization 28 549 M 28 549 M -
EV / Sales 2020 1,95x
EV / Sales 2021 1,84x
Nbr of Employees 21 000
Free-Float 99,9%
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 36,19 $
Last Close Price 38,32 $
Spread / Highest target 9,60%
Spread / Average Target -5,56%
Spread / Lowest Target -37,4%
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Managers
NameTitle
James C. Collins Chief Executive Officer & Director
Gregory R. Page Non-Executive Chairman
Gregory R. Friedman Chief Financial Officer & Executive Vice President
Debra King Chief Information Officer & Senior Vice President
Sam Eathington Chief Technology Officer & Senior Vice President
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