CHINA: DuPont Acquires Soy Protein Facility in China
WILMINGTON, Del., and WUHAN, China, June 12 /PRNewswire/ -- As part of its strategy to expand its soy protein business in Asia, DuPont (NYSE:DD) today announced that it has reached agreement with the Yun Meng County government to acquire the Hubei Longyun Protein Food Group's soy protein facility. Estimated total investment is about $20 million (U.S.).
DuPont has been marketing Supro® brand soy protein products in China through its Protein Technologies International (PTI) business since 1992.
Known as DuPont Yun Meng Protein Company, Ltd., the new food and nutrition venture will allow DuPont to meet the growing demand for nutritious and good tasting ingredients in higher value segments such as beverages, supplements and premium processed meat products. The facility will manufacture high- quality soy protein isolate, with a minimum of 90 percent protein.
''This acquisition reinforces our strategy of helping our consumer food company customers broaden the availability of good tasting, healthy and convenient foods that are available to consumers all over the world to eat throughout their day,'' said J. Erik Fyrwald, vice president and general manager ? DuPont Nutrition and Health. ''Our goal is to substantially grow the business globally, building off our technology capability by having localized product development and production to best meet consumer needs with world- class processing and distribution.''
DuPont estimates the annual global food ingredients market to be about $20 billion (U.S.), growing at a rate of between 3 percent and 5 percent per year. The healthy food ingredients market is growing at an average of 15 percent per year, with total annual sales of $2 billion to $3 billion (U.S.).
DuPont established its first office in China in 1984 and today has 14 wholly owned subsidiaries and joint ventures. In addition, the company also has more than 10 technology transfer projects underway in 18 research and manufacturing institutions nationwide.
Protein Technologies International is a leading researcher, manufacturer and marketer of high-quality soy protein and soy fiber ingredients to food manufacturers worldwide. The company has nearly 35 years of nutrition research and commitment focused on products that positively impact human health.
DuPont (NYSE:DD) is a science company, delivering science-based solutions that make a difference in people's lives in food and nutrition; health care; apparel; home and construction; electronics; and transportation. Founded in 1802, the company operates in 70 countries and has 93,000 employees.
Supro® is a registered trademark of E.I. du Pont de Nemours and Company.
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