DuPont forms two new business units following Danisco acquisition

19 May 2011 21:15  [Source: ICIS news]

HOUSTON (ICIS)--DuPont is forming two new business units following the completion of its acquisition of Denmark’s Danisco, the US chemicals major said on Thursday.

DuPont said its new industrial biosciences unit will integrate Danisco's Genencor enzyme division with its applied bio-sciences business to create a $1bn (€700m)/year industrial bioscience business.

The unit will be led by James Collins as president.

Collins headed the integration team of the Danisco acquisition. Before that, he led DuPont’s crop protection business.

Meanwhile, DuPont's new nutritional and health unit will combine Danisco's food ingredients with DuPont's existing nutrition and health business to form a $3bn/year specialty food ingredients and food safety business, the company said. 

It will be led by Craig Binetti, who has headed DuPont’s nutrition and health business since 2007.

The units will each stand alone as financial reporting segments, DuPont added.  

Following DuPont’s takeover bid from January and completion of the tender offer last week, the US-based company now has 92% ownership of Danisco, it said.

($1 = €0.70)

For more on DuPont and other producers visit ICIS company intelligence

By: Stefan Baumgarten
+1 713 525 2653

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