In a chemical industry deal with implications in the field of bio-based plastics, DuPont announced on 9 January that it had entered into an agreement to buy Danish enzyme and specialty food ingredients company Danisco for $6.3bn (€4.8bn).
If the deal goes through, US-based DuPont would pay $5.8bn (€4.4bn) in cash and assume $500m (€383m) of Danisco’s net debt.
DuPont said the acquisition would give it a leadership position in products that address global food challenges and that reduce fossil fuel consumption.
Chairman and CEO Ellen Kullman said biotechnology and specialty food ingredients “have the potential to change the landscape of industries, such as substituting renewable materials for fossil fuel processes”.
DuPont and Danisco’s Genencor enzymes division already worked together to develop Sorona, a biodegradable polyester.
Bio-based plastics have grown to play an important part in DuPont’s plastics portfolio. At K 2010, DuPont highlighted its progress in developing renewable products for the plastics industry, which it said reduced its dependence on fossil fuels and increased the efficiency of its energy use.
Copenhagen, Denmark-based Danisco has nearly 7,000 employees globally with operations in 23 countries.
Source: European Plastics News, 2011-01-12.