The corporate parent of a company with a bioproducts manufacturing plant in southwest Cedar Rapids reportedly is considering selling or spinning off the business.
DuPont de Nemours, a specialty chemicals manufacturer, is working with advisers to evaluate options for its nutrition and biosciences unit, according to Bloomberg News. The options reportedly include selling the business or spinning it off to shareholders of the Wilmington, Del., conglomerate.
Bloomberg said DuPont also is considering a so-called Reverse Morris Trust, or tax-free merger with another company. Potential partners for that kind of transaction could include Royal DSM, Kerry Group, Givaudan SA and International Flavors and Fragrances.
DuPont Industrial Biosciences operates a manufacturing plant at 1000 41st Ave. Dr. SW in Cedar Rapids. DuPont acquired the plant in May 2011 when it bought Genencor International and Danisco, its corporate parent.
The Cedar Rapids plant, which has undergone several expansions in recent years, produces industrial enzymes used to manufacture biofuels and for food, animal nutrition and fabric and household care products.
DuPont, with a market value of about $50 billion, is one of the companies separated from DowDuPont, which was formed in 2017 with the largest U.S. chemicals merger on record.