Corteva Inc. announced that it successfully completed its separation from DowDuPont, becoming a leading global pure-play agriculture company that offers the complete solutions farmers need to maximize yield and profitability. Corteva Agriscience launches with global scale and a balanced offering across seed and crop protection, underpinned by expanding digital capabilities and powered by the broadest and most productive innovation pipeline in the industry, the company said in a statement.

The distribution of Corteva common stock was completed on June 1, with each DowDuPont stockholder of record receiving one share of Corteva common stock for every three shares of DowDuPont common stock held as of the close of business on May 24, 2019. DowDuPont stockholders will also receive cash in lieu of any fractional Corteva shares. Corteva common stock begins trading June 3 on the New York Stock Exchange under its new ticker symbol “CTVA.”

“Today marks the launch of a new kind of agriculture company, well positioned to compete and win by providing farmers the complete solution they need for sustainable, long-term growth and improved profitability,” Corteva Agriscience chief executive officer Jim Collins said June 3. “As a global leader in the combined $100 billion seed and crop protection market, Corteva Agriscience has the most robust pipeline in the industry, a world-class innovation engine and advantaged routes to market that provide us with unparalleled customer relationships – all of which will fuel our growth as an independent company and drive value for stockholders. Our more than 21,000 dedicated employees are committed to fulfilling our purpose to enrich the lives of those who produce and those who consume, ensuring progress for generations to come.”

Related:Corteva expands canola market share with acquisition

With a presence in more than 140 countries, Corteva Agriscience generated $14 billion in net sales in 2018. The company has more than 150 research and development facilities and more than 65 active ingredients.

“As a new independent agriculture company, we are intently focused on disciplined investment in innovation to deliver above market organic revenue growth and improve return on invested capital,” said Greg Friedman, executive vice president and chief financial officer of Corteva Agriscience. “We are on schedule on our commitment to achieve $1.2 billion in cost synergies by 2021, and we are confident in our plan to expand margins. Equally important, we are committed to returning significant capital to stockholders through a combination of dividends and share repurchases.”

American Soybean Assn. president Davie Stephens joined Corteva Agriscience for the opening bell ceremony on Monday morning. “Companies like Corteva provide tools and solutions for farmers as we strive to maximize yields and profitability while reinforcing commitments to sustainable agriculture practices. U.S. soybean producers are the best in the world at producing the safest, most nutrient-filled and affordable soybeans, which is why I’m proud to join Corteva for their official independent business launch today,” Stephens said in a statement.

The new company’s name, Corteva (kohr-'teh-vah) Agriscience, is derived from words meaning “heart” and “nature.” The branding acknowledges the company’s history while looking forward to its commitment to enhancing farmer productivity as well as the health and well-being of the consumers it serves. The company is headquartered in Wilmington, Del., with global business centers in Johnston, Iowa, and Indianapolis, Ind., and with five regional offices in Calgary, Alb.; Johannesburg, South Africa; Geneva, Switzerland; Singapore, and Alphaville, Brazil.