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MarketScreener Homepage  >  Equities  >  Nyse  >  Procter & Gamble Company    PG

PROCTER & GAMBLE COMPANY

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Procter & Gamble : and Cargill collaborate to bring nature-powered innovation, fueling the future for more sustainable products

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05/21/2020 | 10:13am EDT

CINCINNATI & MINNEAPOLIS-An innovation developed in the corporate R&D labs at P&G that converts lactic acid into bio-based acrylic acid could be a helpful step to shift everyday goods to be made from annually renewable crops. P&G has granted Cargill an exclusive license that allows Cargill to further develop and commercialize this technology, so that it can ultimately be incorporated in a range of applications from superabsorbent polymers in absorbent hygiene products to thickeners in household paints and beyond. The use of bio-based acrylic acid is estimated to reduce greenhouse gas (GHG) emissions and contribute to greener products for years to come - something that is important to a range of stakeholders, including consumers and business leaders.

P&G scientists were recently announced as winners of the American Chemical Society (ACS) 2020 Award for Affordable Green Chemistry for this groundbreaking proprietary technology. While the conversion technology is considered a breakthrough, it will take several more years of development before impacting consumer products in the marketplace.

'This new technology demonstrates that we can leverage the best materials science with new bio-based solutions to deliver sustainable innovation in consumer goods production. By investing in advancing bio-based solutions, we can and will help reduce the carbon footprint of various industries. This is consistent with P&G's stated Ambition 2030 sustainability goals to look to new, renewable sources of raw materials for conversion into everyday products,' says Dr. Annie Weisbrod, Principal Scientist, Environmental Stewardship & Sustainability at Procter & Gamble.

'Manufacturers and brand owners have been seeking viable pathways to bio-based acrylic acid to reduce the environmental impact, and P&G's conversion technology brings us closer to a solution,' says Mr. Asheesh Choudhary, global business development director for Cargill's bioindustrial business.

'We are thrilled that P&G granted Cargill an exclusive license to this technology that converts lactic acid into bio-acrylic acid,' says Dr. Jill Zullo, strategic marketing and innovation leader for Cargill's bioindustrial business. 'By using annually renewable crops, we'll be able to contribute to farmer prosperity while delivering more renewable solutions that are estimated to have less than half the GHG footprint versus the petroleum-based equivalent.'

About Cargill

Cargill's 155,000 employees across 70 countries work relentlessly to achieve our purpose of nourishing the world in a safe, responsible and sustainable way. Every day, we connect farmers with markets, customers with ingredients, and people and animals with the food they need to thrive.

We combine 154 years of experience with new technologies and insights to serve as a trusted partner for food, agriculture, financial and industrial customers in more than 125 countries. Side-by-side, we are building a stronger, sustainable future for agriculture. For more information, visit Cargill.com and our News Center.

About Procter & Gamble

P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always, Ambi Pur, Ariel, Bounty, Charmin, Crest, Dawn, Downy, Fairy, Febreze, Gain, Gillette, Head & Shoulders, Lenor, Olay, Oral-B, Pampers, Pantene, SK-II, Tide, Vicks, and Whisper. The P&G community includes operations in approximately 70 countries worldwide. Please visit https://www.pg.com/ for the latest news and information about P&G and its brands.

Contact:

Jennifer Patel, Global Communications Lead, 612-644-1891, jennifer_patel@cargill.com

Maria Burquest, P&G Communications, 513-680-5977, burquest.mh@pg.com

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2020 70 169 M - -
Net income 2020 12 870 M - -
Net Debt 2020 20 444 M - -
P/E ratio 2020 25,3x
Yield 2020 2,44%
Capitalization 307 B 307 B -
EV / Sales 2019
EV / Sales 2020 4,66x
Nbr of Employees 97 000
Free-Float 61,7%
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 130,00 $
Last Close Price 123,89 $
Spread / Highest target 17,8%
Spread / Average Target 4,94%
Spread / Lowest Target -12,0%
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NameTitle
David S. Taylor Chairman, President & Chief Executive Officer
Jon R. Moeller Vice Chairman, Chief Operating & Financial Officer
Kathleen B. Fish Chief Research, Development & Innovation Officer
Scott D. Cook Independent Director
W. James McNerney Lead Independent Director
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