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Corteva announced the completion of its spin-off from DowDuPont and its independent listing as a company focused on agricultural technology, covering two major market areas
: seed and crop protection.
Corteva combines DuPont's seed business with Dow's chemical and biotechnology divisions to operate in more than 130 countries and territories and has more than 150 research and development facilities
.
The distribution of ordinary shares of Corteva Agricultural Technology was completed on June 1, and DowDuPont shareholders registered as of May 24 local time will be converted by matching 1 common share of Corteva Agricultural Technology for every three ordinary shares of DowDuPont
.
Collins, CEO of Corteva Agritech, said: "The two markets of seed and crop protection together are nearly $100 billion
.
Since Dow and DuPont completed their merger in 2017, the combined company has introduced 14 new products, allowing Corteva to better compete
with Bayer and other companies.
”