Corteva to Close Spanish Facility as Part of Productivity Initiative

Dow Jones

Jun 13

By Connor Hart

Corteva plans to cease production activities at a Spanish site, a move the company said represents the next phase of multi-year footprint optimization and productivity initiative.

The seed and pesticide producer said in a filing with the Securities and Exchange Commission on Friday that the cessation will be subject to a consultation process with the applicable works council, as well as union representatives at the Asturias, Spain facility.

With the closing, Corteva said it now expects pre-tax restructuring and asset related charges tied to the initiative to come in between $750 million and $815 million, an increase of $100 million to $115 million from its prior forecast, largely due to additional severance and closure costs.

Corteva first disclosed its optimization and productivity initiative at an investor conference in 2024, targeting $300 million in total run-rate productivity savings by next year.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

June 12, 2026 18:15 ET (22:15 GMT)

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