DuPont to appeal Competition Tribunal's Pannar decision
According to Business Day, the multinational company DuPont has filed papers with the Competition Appeal Court in a bid to overturn a decision by the Competition Tribunal to disallow a merger between its US-based subsidiary Pioneer Hi-Bred International and local company Pannar Seed. The tribunal said it disallowed the merger in order to protect South Africa's seed industry from being dominated by two international organisations, the other being Monsanto.
Last year's tribunal decision was a setback for both DuPont and Pannar. DuPont's sub-Saharan Africa president, Rik Miller, argued that DuPont would show that the tribunal had overlooked certain considerations when it made its decision, including the fact that DuPont was working with the government, nongovernmental organisations and farming communities, to bring cutting-edge technology and additional research investment to South Africa. This, Miller said, enables the country to remain a seed technology leader for the continent, as well as an effective export competitor.
Business Day reports that Miller said DuPont had more than 9500 scientists and engineers "working with customers, governments, business partners and others to create solutions" that met unique needs around the world.
Read the full article on www.businessday.co.za.
