Chemical maker DuPont announced changes Thursday to integrate two businesses of food additives maker Danisco, which it acquired earlier this week.
Danisco's Genencor enzyme division will become part of DuPont's Applied BioSciences business to create a $1 billion unit. Danisco's food ingredients unit will merge with DuPont's nutrition and health business to form a $3 billion business, the company said in a release.
Craig Binetti will serve as president of the new nutrition business and James Collins will lead the biosciences business. Binetti, 55, has led DuPont's nutrition business since 2007. Collins, 48, has led DuPont's crop protection business, and most recently served as part of the company's Danisco integration team.
DuPont successfully completed its takeover bid for Danisco Monday, after more than 92 percent of shareholders approved the bid.
Danisco broadens DuPont's food products as the world's population and demand for food grows. Danisco's compounds are used to improve taste and extend shelf life in baked goods, beverages, animal feed and other products. The companies already have a partnership to develop ethanol technology.
In afternoon trading, shares of Wilmington, Del.-based DuPont added 9 cents to $53.38.
Danisco's Genencor enzyme division will become part of DuPont's Applied BioSciences business to create a $1 billion unit. Danisco's food ingredients unit will merge with DuPont's nutrition and health business to form a $3 billion business, the company said in a release.
Craig Binetti will serve as president of the new nutrition business and James Collins will lead the biosciences business. Binetti, 55, has led DuPont's nutrition business since 2007. Collins, 48, has led DuPont's crop protection business, and most recently served as part of the company's Danisco integration team.
DuPont successfully completed its takeover bid for Danisco Monday, after more than 92 percent of shareholders approved the bid.
Danisco broadens DuPont's food products as the world's population and demand for food grows. Danisco's compounds are used to improve taste and extend shelf life in baked goods, beverages, animal feed and other products. The companies already have a partnership to develop ethanol technology.
In afternoon trading, shares of Wilmington, Del.-based DuPont added 9 cents to $53.38.