Dow Chemical 2015 Annual Report Download - page 16

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6
Agricultural Sciences is focused on delivering results through technology leadership. Major brands and technologies, by key
product line, are listed below:
Key Product
Lines Brands and Technologies
Insecticides ISOCLAST™; LORSBAN™; RADIANT™; SENTRICON™; TRACER™
Fungicides DITHANE™; INATREQ™
Herbicides ARYLEX™; BROADWAY™; CLINCHER™; DURANGO™; FENCER™; GARLON™;
LONTREL™; MILESTONE™; PANZER™; PRIMUS™; RINSKOR™; SPIDER™; STARANE™;
SURESTART™; TORDON™
Seeds AGROMEN™(1); BRODBECK™ Seeds; DAIRYLAND SEED™; DOW™ Seeds; MYCOGEN™
Seeds; NEXERA™; Omega-9 Healthier Oils; PFISTER™ Seeds; PHYTOGEN™; POWERCORE™
Insect Trait Technology(2); PRAIRIE BRAND™ Seeds; REFUGE ADVANCED™ powered by
SmartStax®(2); SmartStax® Insect Trait Technology(2)
Other N-SERVE™ Nitrogen Stabilizer; TELONE™
(1) AGROMEN trademark used under license from Agromen Sementes Agricolas Ltda.
(2) Smartstax® and POWERCORE™ multi-event technology developed by Dow AgroSciences LLC and Monsanto. Smartstax®, the
Smartstax® logo, POWERCORE™ and the POWERCORE™ logo are trademarks of Monsanto Technology, LLC.
U.S. federal regulatory approvals have been obtained for the commercialization of ENLIST™ Corn, Soybeans and Cotton,
including the U.S. Environmental Protection Agency's ("EPA") registration of ENLIST DUO™ for use with ENLIST™ Corn
and Soybeans in 15 key states. The Company has also secured approval of the registration of ENLIST E3™ Soybeans in
Argentina and approval of the registration of ENLIST™ Soybean Seeds and Corn Seeds in Brazil. Regulatory approvals for
ENLIST™ products in certain other countries are still pending. After the EPA’s registration of ENLIST DUO™ for use with
ENLIST™ Corn and Soybeans, the National Resources Defense Council, Center for Food Safety and other organizations filed
suit against the EPA to set aside the registration in the United States Court of Appeals for the Ninth Circuit (the "Court"), and
Dow AgroSciences intervened in the cases. In late November 2015, the EPA filed a motion to vacate and remand the
registration to the EPA. Dow AgroSciences opposed the motion to vacate the registration. On January 25, 2016, the Court
denied the EPA’s motion to vacate the registration, so the ENLIST DUO™ registration for use with ENLIST™ Corn and
Soybeans remains fully intact.
Patents, Trademarks and Licenses
Agricultural Sciences has significant technology-driven growth, led by plant biotechnology traits and crop protection products
that utilize proprietary formulations. As a result, the Company uses patents, trademarks, licenses and registrations to protect its
investment in germplasm, traits and proprietary chemistries and formulations. The Company also licenses plant biotechnology
traits from third parties and engages in research collaborations with global industry, academia and governments. The Company
does not regard the Agricultural Sciences segment as being materially dependent on any single or group of related patents,
trademarks, licenses or registrations.
Competition
Agricultural Sciences competes with producers of crop protection chemicals and agricultural biotechnology in the United States
and abroad. The Company competes on the basis of technology and trait leadership, price, quality and cost competitiveness.
Key competitors include BASF, Bayer, DuPont, Monsanto and Syngenta, as well as generic and regional seed companies.
Distribution
Agricultural Sciences has a diverse worldwide network which markets and distributes the Company's brands to customers
globally. This network consists of the Company's sales and marketing organization partnering with distributors, independent
retailers and growers, cooperatives and agents throughout the world.
Seasonality
Agricultural Sciences sales and EBITDA are strongest in the first half of the year, aligning with the planting and growing
season in the northern hemisphere, where approximately 60 percent of the segment's annual sales are generated. Inventory tends
to be at peak levels in the first half of the year, in advance of the northern hemisphere planting and growing season. Accounts
receivable tends to be highest during the second quarter, consistent with the peak sales period in the northern hemisphere.