Press Release •  27/7/2020

Proposal To Cease Manufacturing Operations at New Plymouth

NEW PLYMOUTH, NEW ZEALAND - July 27, 2020 - Corteva Agriscience (NYSE: CTVA) today announced a proposal to consider the closure of its Paritutu crop protection manufacturing operations in New Plymouth.

The proposal follows a strategic review undertaken over the past 12 months to determine the optimal supply arrangements for crop protection products for the company’s Australia - New Zealand (ANZ) Commercial Unit. The proposal aims to establish the strongest foundation from which to drive long-term sustainable growth for the company globally.

Under the proposal, manufacturing operations in New Plymouth would transition to manufacturing locations across the company’s global supply network. If the proposal is accepted, a transition would take place over the next 6-12 months.

If the proposal proceeds, approximately 35 New Zealand-based employees in the manufacturing and quality assurance functions would be affected.

According to Mr Robert Kaan, Managing Director - ANZ, Japan & Korea, Corteva Agriscience undertakes regular reviews of its global supply chain strategies to ensure the most efficient and reliable supply to its customers.

“The strategic objective of Corteva Agriscience is to establish the strongest foundation to drive sustainable growth over the long term,” said Mr Kaan. “Careful assessment of efficiencies in the ANZ region determined there were significant benefits to the company in moving its New Plymouth manufacturing operations to alternative locations across its global supply network.”

“The consideration of this proposal in no way reflects our employees’ hard work, dedication and the safe reliable operations at the New Plymouth site. I want to acknowledge all our staff who are impacted by this proposal.

“Corteva remains committed to New Zealand agriculture and will retain a NZ head office in New Plymouth”.

The proposal is now under consideration and the company is consulting with affected employees. It expects to communicate a final decision on 4 August 2020.

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About Corteva Agriscience (NYSE: CTVA)

Corteva Agriscience provides farmers around the world with the most complete input portfolio in the industry to enable them to maximize yield and profitability. This includes some of the most recognised brands in agriculture: Pioneer®, Granular®, Brevant seeds, as well as award-winning Crop Protection products. It brings new products to market through its robust pipeline of active chemistry and technologies. The company is committed to working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. Corteva Agriscience became an independent public company on June 1, 2019 and was previously the Agriculture Division of DowDuPont. More information can be found at www.corteva.com.

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TM, ®, SM Trademarks and service marks of Corteva Agriscience, Dow AgroSciences, DuPont or Pioneer, and their affiliated companies or their respective owners. © 2020 Corteva Agriscience

 

Contact:
Jo de Joux
+64 (0) 21 245 6924
jo@hcgroup.nz