IBJNews

Dow Agro CEO says pipeline of products strong

Back to TopCommentsE-mailPrintBookmark and Share

Dow AgroSciences CEO Antonio Galindez told investors Wednesday morning at a conference in New York City that the company plans to launch five products by 2013 that could increase annual revenue by $800 million.

The Indianapolis subsidiary of Michigan-based Dow Chemical Co. partnered with St. Louis-based Monsanto Co. to develop what could become its biggest blockbuster, a genetically modified corn variety it calls SmartStax.

SmartStax is set to hit the market this year and could improve crop yields as much as 10 percent by better protecting the plants against herbicides and bugs.

Another example of a new product cited by Galindez is Sulfoxaflor, an insecticide anticipated to launch in 2012.

Galindez said the new products are being driven by Dow Agro’s increased commitment to innovation. The company in July signed a 15-year lease for an 80,000-square-foot research-and-development building, to be erected adjacent to its headquarters on the northwest side of Indianapolis.

On Feb. 2, Dow announced that it posted a profit of $69 million in the fourth quarter, down 19 percent from the prior year, because of increased research-and-development spending and higher administrative expenses.

Revenue rose 17 percent, to $1.1 billion, from $920 million in the fourth quarter of 2008.

 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
ADVERTISEMENT