E.I. du Pont de Nemours & Co. today announced the formation of two new business units, Industrial Biosciences and Nutrition & Health. The announcement follows DuPont’s successful takeover battle on Monday for Danisco A/S, a Danish food ingredients and enzyme group, for $6.5 billion.  

The Industrial Biosciences unit will integrate Danisco’s Genencor enzyme division with the DuPont Applied BioSciences business to create a $1 billion industrial bioscience business.

Nutrition & Health will combine Danisco Food Ingredients with DuPont’s existing Nutrition & Health business to form a $3 billion specialty food ingredients and food safety business.  Both units will stand alone as financial reporting entities.

Genencor is growing in Iowa. This morning, the Iowa Economic Development Board approved $500,000 in direct financial assistance from the Grow Iowa Values Fund and Enterprise Zone tax incentives to Genencor for a proposed $67.4 million expansion of its Cedar Rapids facility. The project is expected to create 33 jobs by increasing production capacity for development and sales of biocatalysts for the industrial, consumer and agriprocessing markets.

DuPont has appointed Craig Binetti, who has led the company’s Nutrition and Health business since 2007, as president of the new Nutrition & Health unit. James Collins Jr., who has led DuPont’s crop protection business since 2004, has been named president of the Industrial Biosciences unit.

Richard Olson will assume responsibility for ongoing integration of Danisco across both new businesses units. Olson currently leads the company’s productivity improvement and business process simplification programs. .