After the completion of the Danisco deal, EI DuPont de Nemours & Co. (DD) has formed two new business units, Industrial Biosciences and Nutrition & Health. Industrial Biosciences will be headed by James C. Collins, Jr., whereas the Nutrition & Health will be headed by Craig F. Binetti.
However, the integration of Danisco across both new businesses units will be looked after by Richard C. Olson.
Industrial Biosciences business unit will stand alone as a financial reporting segment and will combine Danisco's Genencor enzyme division with the DuPont Applied BioSciences business to create a leading $1 billion industrial bioscience business.
Nutritional & Health business unit will also stand alone as a financial reporting segment and will integrate Danisco Food Ingredients with DuPont's existing Nutrition & Health business to form a premier $3 billion specialty food ingredients and food safety business.
DuPont successfully completed its tender offer for all outstanding shares of Danisco, which attained approval for its $6.4 billion offer from shareholders holding 92.2% of the Danish food-ingredients company.
Last month, DuPont announced its first-quarter results and increased its full-year 2011 earnings guidance to a range of $3.65 to $3.85 per share from its previous range of $3.45 to $3.75 per share, excluding the impact of Danisco.
First-quarter earnings increased to $1.43 billion or $1.52 per share compared with $1.13 billion or $1.24 per share in the prior year.
DuPont is a global chemical and life sciences company, employing more than 60,000 people worldwide with a diverse array of product offerings. With over 21,000 patents and 15,000 patent applications worldwide, DuPont sells its products in diverse markets such as transportation, construction, apparel, agriculture, nutrition and health, packaging and electronics markets.
DuPont faces stiff competition from The Dow Chemical Company (DOW).
The company currently retains a Zacks #2 Rank on the stock, which translates into a short-term “Buy” rating. In addition, we reiterate our “Outperform” recommendation on the stock for the long term.
DU PONT (EI) DE (DD): Free Stock Analysis Report
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