DuPont Has Record Innovation Year Despite 2009 Recession
A Member of the TR50 Most Innovative Companies in the World, DuPont Saw 39 Percent of Revenue from Products Introduced in 2009
Wilmington, DE (Vocus) February 26, 2010
DuPont Senior Vice President and Chief Science & Technology Officer Uma Chowdhry announced the company’s innovation results set a new record in 2009 despite the global economic recession.
“Innovation is a critical lever for DuPont, whether it is at the peak of economic growth or in the midst of a recession,” Chowdhry said. “Our commitment to innovation did not waver, even through the worst recession in decades, and it is paying off. Our R&D engine continues to deliver to the top and bottom line at DuPont. New products underpin our marketing success and volumes for our new differentiated products were strong through the downturn helping us to achieve outstanding results.”
DuPont had a record year in innovation results in 2009, including:
Sales from New Products: DuPont sales from new products launched in the previous five years reached $10 billion in 2009, or 39 percent of revenue. Chowdhry announced that in 2010 the definition of “new product” will change to products commercialized within a four year window.
“Our market-driven science and intense customer focus helped our customers distinguish themselves verses their competitors with our differentiated offerings. Government stimulus related opportunities in China enabled several new launches, boosting global revenue,” Chowdhry said.
New Product Launches: DuPont commercialized more than 1,400 new products and applications in 2009, more new products than in any prior year and a 60 percent increase from 2008.
Patents Filed and Granted: DuPont scientists and engineers filed 2,086 patent applications in the United States, the highest number in the company’s history and up 8 percent from 2008. The U. S. Patent and Trademark Office granted DuPont 592 patents, a 20 percent increase over 2008.
These leading indicators for value creation continually receive external recognition demonstrating leadership over competition. MIT Technology Review has listed DuPont on its TR50, a list of the 50 most innovative companies in the world.
DuPont has the strongest patent portfolio in the chemical industry according to the Patent Scorecard™ issued on Feb. 23. The company has received this top ranking every quarter since January 2007 when the PatentBoard™ first issued the Scorecard™ and was rated more than twice as strong as second place BASF for “Technology Strength, an aggregate measure of the overall quality of a company’s patent strength.” DuPont also is a sector-leading constituent of the Ocean Tomo 300® Patent Index (NYSE Euronext: OTPAT), the industry’s first index based on the value of intellectual property, for holding the highest Innovation Ratio within the materials industry sector.
DuPont is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.
Scorecard™ and PatentBoard™ are trademarks of The Patent Board.
Ocean Tomo 300® is a registered trademark of Ocean Tomo, LLC.
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