CORTEVA, INC.

(CTVA)
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Delayed Nyse  -  04:03 2022-06-29 pm EDT
54.53 USD   +0.48%
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Corteva Agriscience Egypt Hosts GreenTech U.S. Business Delegation

05/19/2022 | 03:07am EDT

The U.S. GreenTech Business Delegation today toured Corteva Agriscience's (www.Corteva.com) Met Bera seed production facility and viewed the business' latest agricultural advancements first-hand, including the company's industry-leading silage and grain hybrid solutions.

The visit formed part of an official countrywide mission initiated by the U.S. Chamber of Commerce (https://bit.ly/37Vm8IO), in partnership with AmCham Egypt (https://www.AmCham.org.eg/), comprising representatives from the U.S. Departments of State, Commerce and Energy, and U.S. companies across finance, healthcare, construction, agriculture, digital and aviation, amongst others. This initiative further demonstrates the United States' ongoing support of Egypt's green growth and climate adaptation and resilience priorities, ahead of COP27, which is set to be held in in Sharm El-Sheikh during November this year.

"The agricultural sector is critical to Egypt, as it accounts for approximately 15% of Egypt's gross domestic product (GDP) and is responsible for 28% (https://bit.ly/3wCgnrL) of the country's employment," says Tarek El Azab, Middle East North Africa Business Unit Leader, Corteva Agriscience. "Egypt's goal is to increase production by 30% by 2024 (https://bit.ly/3wE2V6M), in an effort to further strengthen food security for its 106 million citizens. This aligns with Corteva's ongoing ambition to create a food-secure future for generations to come, through constant innovation and collaboration."

In addition to launching new leading cereal and rice herbicides, fungicides and bematicides incorporating Rinskor(TM), Arylex(TM), Reklamel(TM) and Zorvec(TM) actives, Corteva Agriscience, which has been operating in the Middle East and Egypt for more than 40-years , serves the country's farmers through the Pioneer® brand for seed and through a range of award-winning crop protection brands.

These include Pallas(TM) 45 OD and Broadway(TM) Star and Rainbow® herbicides, as well as insecticides, Tracer® 240 EC with Spinosad(TM) active, Radiant® 120 SC with Spinetora(TM) active, Closer® 240 SC with Isoclast(TM) active, Transform® 500 WG with Isoclast(TM) active and Uphold® 360. Fungicides, Equation Pro® and Curzate R® are also available in-country.

Added to this, Corteva Agriscience provides growers and producers with a diverse and balanced portfolio of new and differentiated technologies and solutions that promote sustainability through reduced use rates and fewer field applications. Corteva's recently announced collaborations in biologicals further support the company's efforts. Derived from living organisms, biologicals, when used together with conventional crop protection solutions, can help promote soil health and optimise farm operability.

"In our visit to Corteva's seed plant, we saw first-hand a leading American company that is making a major positive impact for both Egyptian family farmers and the country's economy and food security," said Steve Lutes, Vice President of Middle East Affairs at the U.S. Chamber of Commerce. "By bringing its innovation and best practices to Egypt, Corteva is working as a partner to help Egypt pursue a sustainable and resilient future in its agriculture sector."

Corteva Agriscience also recently opened a Centre for Seed Applied Technologies (CSAT) (https://bit.ly/3sHBsQu) laboratory in South Africa, strategically positioned to meet the ongoing demands of grain producers across Africa Middle East (AME), including Egypt, ensuring that farmers have access to high-quality seed and better field performance. Seed treatments involve the application of chemical or biological substances, such as fungicides or insecticides, directly to the surface of a seed; enhancing plant health and germination rates, and helping to preserve biodiversity and promote sustainable agriculture.

Further to this, the company is provides solutions in advanced seed breeding, assisting crops in withstanding the extreme conditions that threaten food production, as well as in thriving, enabling healthy harvests in the face of drought, insects and disease. Corteva also provides farmers with an industry-leading portfolio of natural and naturally derived products, such as its fungicide Inatreq(TM) active and its Spinosad-based, organic-approved insect controls.

Corteva Agriscience Cairo currently serves as the region's business centre, promoting farmer productivity and food security across Egypt, Lebanon, Iraq, Jordan, Saudi Arabia, Morocco, Algeria, and Tunisia.

Distributed by APO Group on behalf of Corteva Agriscience.

Media Contact:

Barbra Muzata

Corteva Agriscience

+27838092424

barbra.muzata@corteva.com

Follow Corteva on Facebook (https://bit.ly/3ll4QrF), Instagram (https://bit.ly/3PFgtrA), LinkedIn (https://bit.ly/3FZCfS8), Twitter (https://bit.ly/3yJ6prg), and YouTube (https://bit.ly/3lmuZGF).

About Corteva Agriscience:

Corteva, Inc. (NYSE: CTVA) is a publicly traded, global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world's most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed, crop protection, and digital products and services. With some of the most recognised brands in agriculture and a technology pipeline well positioned to drive growth, the company is committed to maximising productivity for farmers, while working with stakeholders throughout the food system as it fulfils its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.Corteva.com.

TM® SM Trademarks and service marks of Corteva Agriscience and its affiliated companies.

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(C) 2022 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials (USD)
Sales 2022 16 997 M - -
Net income 2022 1 559 M - -
Net cash 2022 3 129 M - -
P/E ratio 2022 24,5x
Yield 2022 1,06%
Capitalization 39 463 M 39 463 M -
EV / Sales 2022 2,14x
EV / Sales 2023 2,02x
Nbr of Employees 21 000
Free-Float 99,4%
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Charles V. Magro Chief Executive Officer & Director
David John Anderson Chief Financial Officer & Executive Vice President
Gregory R. Page Non-Executive Chairman
Sam Eathington Chief Technology Officer & Senior Vice President
Marcos Marinho Lutz Independent Director
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