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This isn’t your parents’ chemical company anymore.

For example, EI du Pont de Nemours (DD), DuPont to its friends, got 28% of its sales in 2010 from its agriculture and nutrition segment. (That percentage will go up once DuPont integrates its acquisition of Danisco, the world’s second largest producer of enzymes for biofuels and foods in 2012.) Of that 59% comes from Pioneer Hi-Bred, the world’s largest seed company.

Another big hunk of sales come from what I’d called advanced materials. For example, 10% of sales in 2010 came from electronics, advanced display, and photovoltaic products. Another 20% of sales fall into the performance materials unit that produces such things as engineering and industrial polymers. Safety and protection fibers such as the Kevlar account for 10%.

And where DuPont is still in what I’d call the traditional chemical business the company has been very good at picking its spots. So, for example, DuPont is the second largest producer of titanium dioxide pigments, used in coatings and paper. That might seem like a humdrum business, but producers are operating near capacity in the face of continued high demand from Asia with no new capacity scheduled to come on line until 2015. That’s let DuPont raise prices and raise them again—eight times during the global economic recovery.

I think this combination of businesses should enable DuPont to grow revenue by 10% in 2011 and after. Many of these businesses—advanced materials, enzymes, seeds—have extremely good long-term growth prospects. That’s one reason that I added these shares to my Jubak Picks 50 long-term portfolio https://jubakpicks.com/jubak-picks-50/ back on January 18. (I’m just getting around to filling in the details on that pick today. The stock traded at $48.96 on January 18. It opened today June 16 at $49.41. My 12-month target for these shares is $60. The stock pays a 3.3% dividend.

Full disclosure: I don’t own shares of any of the companies mentioned in this post in my personal portfolio. The mutual fund I manage, Jubak Global Equity Fund http://jubakfund.com/ , may or may not now own positions in any stock mentioned in this post. The fund did own shares of DuPont as of the end of March. For a full list of the stocks in the fund