"We are excited that the world's largest cotton seed company licenses Optimum(TM) GAT(TM) for cotton globally and soybeans in the U.S.," stated Erik Fyrwald, Group Vice President, DuPont Agriculture and Nutrition. "Today's announcement validates our trait pipeline and Optimum(TM) GAT(TM), extending the acreage served globally."
D&PL will pay DuPont $20.5 million in connection with this transaction and expects to account for it in the fourth quarter. Technology fee sharing for the Optimum(TM) GAT(TM) technology for cotton is essentially consistent with the existing terms in the DeltaMax Collaboration agreement.
D&PL plans to announce its earnings for its third quarter ended May 31, 2006 on July 6, 2006, before the market opens.
Delta and Pine Land Co. is a leading commercial breeder, producer and marketer of cotton planting seed. Headquartered in Scott, Mississippi, with multiple offices in eight states and facilities in several foreign countries, D&PL also breeds, produces and markets soybean planting seed in the U.S.
Delta and Pine Land Company
marketing@alchempro.com
