DuPont says seed sales are slowed by Ukraine violence

DuPont's (DD) seed deliveries from its new $40M seed plant in Ukraine are being slowed by the intensifying violence in the world's third-largest corn exporting country, the president of the company's seed unit says.

No negative effect on revenue will occur if the delay to seed deliveries is resolved by the end of the planting season in three months, DD says, but a bigger concern is whether credit will still be available.

Other western companies with significant presence in Ukraine - such as Monsanto (MON), Deere (DE), Glencore (GLCNF) and ADM - either haven't commented or say they're monitoring events.

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  • funfundvierzig
    , contributor
    Comments (5031) | Send Message
    Last week, 25% of the DuPont Pioneer leadership team, five Vice Presidents and a Director in Iowa, was secretly purged by DuPont Management without explanation or release of details. That inexplicable action reported by the Des Moines Register on Monday, Feb. 17, 2014 may suggest there is not only serious troubles in Ukraine, but perhaps weaknesses in the North America operations as well. Investors, stay tuned...funfun...
    21 Feb 2014, 08:19 AM Reply Like
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