杜邦公司DuPont (DD) 2011年年度报告「NYSE」.pdf

1、In 2011,DuPont delivered another year of strong sales and earnings growth for our shareholders.Sales for the year were up 20 percent versus 2010,and sales in developing markets grew 27 percent.Underlying earnings grew 20 percent,refl ecting strong execution throughout the companywell above our long-

2、term earnings per share growth target of 12 percent compounded annually.Our performance in 2011 was characterized by strong year-over-year growth in the fi rst half,followed by weaker conditions in the last four months of the year.We saw continued outstanding performance in Agriculture,which had the

3、 highest volume growth of all our segments and benefi tted in particular from success in Latin America during the second half.Th e soft ening we experienced in some businesses during the second half was primarily the result of global destocking,slower growth in Asia,and an emerging recession in part

4、s of Europe.We took the necessary steps across the company to adjust to this new reality.In support of growth,we started up two major expansions,one for DuPont Kevlar aramid fi ber at our site in South Carolina and the other in Ohio for DuPont Tedlar fi lm,an important material for photovoltaic prod

5、ucts.Both Kevlar and Tedlar are high-margin products with strong growth potential and opportunities worldwide.We continued to advance our strategic priorities to position our company for continued long-term success.Th e most signifi cant strategic step change in 2011 was the acquisition of Danisco.T

6、h is acquisition strengthens our presence in nutrition and biosciences through a portfolio of strong and profi table businesses,advanced science and technology,and new capabilities.Integration of these businesses has been rapid,and we are already seeing good synergy together with complementary skill