Goodbye, Dow AgroSciences. Hello, Corteva Agriscience.
Get ready for the corporate name of DowDuPont’s agriculture division when it is spun off into a separate company by June 1, 2019, the chemical giant announced Monday.
The agricultural spinoff includes the Indianapolis operations of the former Dow AgroSciences headquarters, which employs about 1,500.
Corteva is a combination of the words "cor," which is Latin for “heart,” and "teva," which is Hebrew for “nature,” DowDuPont said. The second word in the company's name will change slightly, too, removing the plural of the former “AgroSciences” and changing “Agro” to “Agri.”
The new company’s logo is a white circle on a blue field, with lines inside the circle resembling crop furrows.
The new agriculture company also includes the agricultural operations of DuPont, known as Pioneer.
“In Corteva Agriscience, we bring together three businesses with deep connections and dedication to generations of farmers,” said James C. Collins, chief operating officer of DowDuPont’s agriculture division. “Our new name reflects our commitment to enhancing their productivity as well as the health and well-being of the customers they serve.”
The spinoff will be the latest step in a complex, multi-year process to combine the operations of Dow Chemical Co. and DuPont into a $62 billion colossus, and then spin them off into three standalone companies. The initial merger was completed last summer.
DowDuPont also announced names for the two other standalone companies. The materials sciences company, based in Midland, Michigan, will be called Dow and will retain the Dow diamond as its brand. The specialty products company, based in Wilmington, Delaware, will be called DuPont. Company officials say they are working on additional brand-development work for both of those companies.
The new agriculture company, with more than $14 billion revenues, will be based in Wilmington, Delaware, but Indianapolis will be one of its “global business centers.”
Another global business center for the agriculture company will be in Johnston, Iowa.
DuPont’s ag business has about $11 billion in annual sales and employs 12,000 workers, while Dow Agro has $7 billion in sales and employs about 9,000.