By Shezna Shums
Terming Sri Lanka as “promising,” DuPont yesterday announced its entry into the country as part of its strategy to accelerate growth in emerging economies, spearheaded by Asia.
DuPont Lanka (Private) Limited, which has been set up as a wholly-owned subsidiary and will be headquartered in Colombo, will help support the needs of the local customers in various market segments such as agriculture, food and nutrition, apparel and textiles, automotive paints, construction and infrastructure, graphics and packaging, safety and protection and other growth areas.
“The world is undergoing transformational change, driven primarily by global population growth and the rising middle class in developing geographies,” said President South Asia DuPont Balvinder S. Kalsi.
“DuPont is responding by sharpening our focus to meet the increasing demand for food, protecting lives and the environment, decreasing dependence on fossil fuels and meeting emerging market demands for science based solutions, DuPont entry into Sri Lanka demonstrates our commitment to and focus on growing in key emerging markets across South Asia to address local needs,” he added.
“The direct presence of DuPont in Sri Lanka is the first step to make our products and services available for the local customers at their doorstep. As we build and expand our presence in this country our goal is to work closely with our local customers to better understand the unique market needs here and offer them the relevant products and solutions from the global DuPont portfolio,” said Mahinda Halangode, Country Manager DuPont Lanka.
General Manager Public Affairs Krishnakoli Dutta said that DuPont had established operations here as it sees Sri Lanka as “very promising”. DuPont believes in creating and using agricultural products that will be effective and cause the least amount of damage to the soil, she added.
With the current global food challenges DuPont believes that its products will help many of the small time users and marginal groups in excelling in their output.
DuPont spends US $ 1.7 billion on global research and development and this is mainly focused on the three areas of food, energy and safety and protection while other areas also receive some study.
With the changing climatic conditions around the world DuPont is also researching on how to established agricultural growth in drought areas while how agriculture can also be done in high salinity conditions which is present after floods.
“This is a global programme where we want to ensure more food but with better quality,” said Dutta.
In 2010, DuPont recorded turnover of US $ 31.5 billion. The company believes that science will be the solution to meeting the demands of the rising population.
DuPont has their major research and development establishments across the globe so that they can utilise the brain power of scientists around the world.
DuPont, with market driven innovations in the key areas of agriculture, food and nutrition, healthcare, home and construction, electronics, safety and protection and transportation and infrastructure, has the right fit for the needs of Sri Lanka’s fast growing economy.
For instance in the area of agriculture DuPont can provide advanced hybrid seeds for corn and rice as well as high efficiency proprietary crop protection products that help growers improve quality and yields. Similarly the renewable sourced DuPont Sorona polymer can offer exciting options to the country’s textiles industry.
DuPont is a science-based products and services company. Founded in 1802, it puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere.
Operating in more than 90 countries DuPont offers a wide range of innovative products and services for markets including agriculture and food, building and construction, communications and transportations.
As economies modernise in emerging markets DuPont is anticipating increased demand for renewable energy sources by developing products and technologies for photovoltaics and advanced bio fuels like biobutanol and cellulosic ethanol. DuPont is also focused on developing more energy efficient products.
In economies like India DuPont is focusing on the needs of world class infrastructure such as railways and airports, energy efficiency and green building, increasing agricultural productivity, developing alternate energy solutions that address the countries requirements.