The global science and technology solutions provider to diverse industries, DuPont, which acquired a Danish enzyme maker Danisco early this year for nearly $6 billion, is now looking at the acquisition of an Indian company as part of its growth strategy.
The US-based company, which hopes to get 40 per cent of its revenues from the food industry alone, is looking to acquire an Indian company to firm up its footprint in the domestic market, Rajeev Vaidya, President-South Asia, DuPont India Pvt Ltd, a subsidiary of the American parent, told Business Line.
However, he declined to elaborate at this stage.
DuPont, which opened its marketing office in Ahmedabad as part of its growth strategy in India, is expecting its $900 million revenues in 2011 to grow 2.5 times ($2,200 million) in the “near future”. It is focusing on collaborations with local customers to develop science-based applications for key growth markets, like agriculture, health and nutrition-related solutions as India’s requirements are different from other countries”.
DuPont India aims at the Indians producing more, waste less and eat better, he added.
“Our key global challenges are feeding the world, reducing dependence on fossil fuels and protecting people and the environment,” he said.
DuPont India has been growing at double-digit rate annually in the last five years.
The Ahmedabad office will focus on working with local customers and developing science-based applications in emerging growth segments of food industry, automotive and auto-components, renewable energy solutions, packaging, chemicals and pharmaceutical industries, among others.
For this, DuPont will leverage its global R&D, technology and innovation networks, including its knowledge centre in Hyderabad and innovation centre in Pune to develop local applications and solutions and shorten their time-to-market for its 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.