DES MOINES, Iowa (PRWEB) July 31, 2013
DuPont and Pannar Seed (Pty) Limited today closed on a transaction in which DuPont Pioneer acquired majority ownership in Pannar, a South Africa-based seed company with operations throughout Africa and in other parts of the world. This is a significant milestone in DuPont’s commitment to bring technological innovation to agriculture in Africa.
DuPont Pioneer and Pannar are partnering to increase the pace and scope of research and innovation in the African seed industry, bringing farmers in South Africa and throughout the continent more product choices and better products, faster and more efficiently than either company could do on its own. Pioneer will retain the strong Pannar brand and will grow both the Pioneer and the Pannar brands and businesses into the future.
DuPont Pioneer President Paul E. Schickler said, “The partnership between Pioneer and Pannar is beneficial on many levels. It represents growth opportunities for both businesses, for employees, and for the productivity of small-scale and commercial farmers who form the backbone of Africa’s economy and who will feed the continent’s rapidly growing middle class and increasing population.”
The majority share acquisition will allow each business to access additional crop areas, reach more customers and deliver improved seed products to farmers. Pannar receives access to the Pioneer genetics library and its maize breeding and biotechnology capabilities. Pioneer will tap into Pannar’s expertise and reach across Africa, and its maize genetics developed specifically for the region.
“This is good news for Pannar customers, for our employees and for Africa,” said Brian Corbishley, chairperson of Pannar. “This partnership will ensure long-term growth as we deliver improved products to farmers in South Africa and across the continent.”
Technology Hub to be Established for Africa Under a Unified Research Strategy
“One of the key outcomes of the partnership will be the establishment of a world-class technology hub for Africa through which South Africa will become a center of innovation in seed breeding,” said Schickler.
Pioneer committed to investing R62 million (South African Rand) by 2017 to establish a technology hub in South Africa to serve the region, similar to the research hubs that Pioneer has established in Brazil, India and China. The Africa technology hub will comprise a network of research facilities and testing locations in South Africa and around the continent in which Delmas, South Africa, will serve as a technology center of the network. The network will be infused with leading R&D technologies which shorten breeding cycles and improve accuracy toward breeding targets, such as doubled haploids, ear photometry and the proprietary Pioneer Accelerated Yield Technology or AYT™ System, as well as genetic breeding technologies like marker-assisted selection.