Genencor optimistic over DuPont acquisition of parent company

23 February 2011 06:51  [Source: ICIS news]

PHOENIX, Arizona (ICIS)--Enzymes producer Genencor is optimistic that DuPont’s planned acquisition of its parent company will prove beneficial, a Genencor official said on Tuesday.

Speaking on the sidelines of the National Ethanol Conference, Aaron Kelley, senior manager of business development for Genencor, said: “In general I think the folks at Genencor look at [DuPont’s acquisition of parent company Danisco] as a positive thing.”

Genencor, a subsidiary of Danish food ingredients producer Danisco, develops and produces enzymes that can be used in the production of bio-based chemicals and to convert biomass into cellulosic ethanol.

DuPont announced plans in January to acquire Danisco for $6.3bn (€4.6bn). US-based DuPont has since extended its tender offer period for Danisco to 1 April to leave more time to obtain regulatory approvals and clearances from competition authorities in the EU and China.

“DuPont has invested very heavily in the spaces we’ve been working in,” Kelley said.

He noted past collaboration between DuPont and Genencor to develop bio-based 1,3 propanediol (PDO) to make DuPont’s Sorona polymer for use in textiles, and a DuPont-Genencor cellulosic ethanol joint venture.

Genencor has 14 production facilities across the globe and employs more than 1,100 people, Kelley said.

The 16th annual National Ethanol Conference ended on Tuesday.

($1 = €0.73)

To discuss issues facing the chemical industry, go to ICIS connect


 


By: Brian Ford
+1 713 525 2653



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index