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In the processing unit
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New Delhi, Sept. 3: US-based products and services provider DuPont may acquire an Indian food company to expand its presence.
At present, the company provides solutions in the form of emulsifiers, enzymes and proteins to domestic food firms from its various global locations.
Earlier this year, DuPont had bought a Danish enzyme maker Danisco for around $6 billion.
DuPont has set a growth target of 17-18 per cent in the nutrition and health businesses over the next few years.
According to company officials, the acquisition of an Indian company will happen at a later stage. “We do not want to elaborate on any plan right now as we are doing a study on the localised products we can introduce. We want to concentrate on India-specific products and ways of increasing their nutritive value by raising the protein content,” a senior official with DuPont said.
DuPont will work on agriculture, health and nutrition-related applications in India. “The company will spend $10 billion on research and development (R&D) in the next 10 years. Our plan is to launch 4, 000 products and our mission is to ensure India produces more, wastes less and eats better,” said DuPont president (South Asia) Rajeev Vaidya.
The company, which has recently opened its marketing office in Ahmedabad, plans to set up a food application development centre and work in collaboration with local firms to come out with customised solutions.
For this, DuPont will leverage its global R&D and technology networks, including its knowledge centre in Hyderabad and innovation centre in Pune. The local applications are expected to benefit customers in the emerging industrial clusters of Gujarat, where the company had opened its largest manufacturing plant in India, at Savli, near Vadodara in 1995.
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