Canada Approves Dow's Enlist DuoTech - Analyst Blog
May 20 2013 - 2:00PM
Zacks
Dow AgroSciences LLC, a unit of The Dow Chemical
Company (DOW), announced that Health Canada’s Pest
Management Regulatory Agency (PMRA) has approved its Enlist Duo
herbicide with Colex-D Technology for use in Canada.
With the approval, both components of the Enlist Weed Control
System in corn and soybeans have been approved for use in Canada.
Canada is the first nation to authorize the new herbicide.
The Enlist weed control system possesses new traits, herbicides,
and stewardship to provide the farmers the weed control that they
urgently need to sustain. The Colex-D technology equips Enlist Duo
with unique features like near-zero volatility, minimized potential
for drift, lower odor, and better handling characteristics. Thus,
the technology is a welcome solution to the farmers who have to
manage hard-to-control and resistant weeds.
Dow will speed up the production and its supply of Enlist Duo
herbicide with Colex-D Technology to support the expected Enlist
launch. In order to ensure the availability of the technology in
most places and to increase its commercialization, Dow is working
with other regulatory agencies.
Recently, Dow AgroSciences also received approval from the U.S.
regulatory authorities to market its new insecticidal active
ingredient, Sulfoxaflor, as Transform and Closer. Sulfoxaflor
registrations in the U.S. and Canada were accomplished after a
Global Joint Review which also included Australia.
Dow posted its first-quarter 2013 results last month. The
company posted a profit of $550 million or 46 cents a share, a
roughly 33% rise from $412 million or 35 cents a share earned a
year ago. Profits soared on the strength of the agriculture science
business, which witnessed record sales of seeds and crop protection
products.
Barring one-time items (including charges associated with tax
adjustments and a loss on early extinguishment of debt), Dow earned
69 cents a share in the quarter, up from 61 cents a year ago. It
comfortably beat the Zacks Consensus Estimate of 60 cents.
Dow will focus on organically growing its attractive businesses
and driving earnings, leveraging its feedstock strength. The
company will also continue to pursue its cost reduction and
efficiency programs while reducing debt and maximizing shareholder
returns. However, Dow does not see a material improvement in the
macroeconomic environment this year.
Dow currently holds a Zacks Rank #3 (Hold).
Other companies in the chemical industry having favorable Zacks
Rank are Shin-Etsu Chemical Co., Ltd. (SHECY),
Celanese Corporation (CE) and
Methanex Corporation (MEOH). All of them
retain Zacks Rank #1 (Strong Buy).
CELANESE CP-A (CE): Free Stock Analysis Report
DOW CHEMICAL (DOW): Free Stock Analysis Report
METHANEX CORP (MEOH): Free Stock Analysis Report
SHIN-ETSU CHEM (SHECY): Get Free Report
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