Corteva defends separation amid PFAS claims
- Corteva rejected attempts by several State Attorneys General to block its planned business separation.
- The company said the legal claims are speculative and that no PFAS-related judgments or trials are pending against it.
- Corteva said the separation is designed to create two independent companies focused on different business strategies.
Corteva (NYSE:CTVA) rejected efforts by several State Attorneys General to stop its planned separation, stating that the legal challenge is based on speculative PFAS liability claims.
The company said its separation plan will create two independent businesses, with the crop protection business retaining the Corteva brand and continuing operations focused on agricultural products.
"As we've stated from the beginning, our planned separation is an acknowledgement that our two businesses have different business models and will better deliver for farmers separately than they do together," said Corteva Chief Legal Officer Jennifer Johnson.
Corteva said it has never manufactured, sold, or traded PFOA or PFOS products during its seven-year history and stated that it believes its balance sheet can cover any potential liabilities it may face.
Corteva said it will defend its planned separation and stated that the transaction is intended to allow each business to pursue separate strategies and operations.
Corteva operates in the agriculture sector, providing crop protection products, seeds, and related technologies for farmers worldwide.
The company was formed in 2019 following the separation of DowDuPont and has since focused on agricultural inputs, including crop protection and seed solutions.
