In his report at Danisco's Annual General Meeting, Chairman of the Board of Directors, Anders Knutsen, said among other things: Today, the company is a focused ingredients company comprising enzymes, cultures, emulsifiers, pectin and sugar just to mention a few. Our ingredients are eaten around the clock by a multitude of people because they are used in everyday food. Our global ingredients business has factories and sales offices in more than 40 countries as well as comprehensive research and development activities. We are at the forefront of research and are rightly perceived as an advanced biotech company. That is why in my welcome note a moment ago I talked about Danisco as it is today. The future of Danisco Sugar Developments in recent years have supported the view that Danisco's shareholders would benefit from separating the company into two independent companies: an ingredients business and a sugar business. We agree that the proposed model is workable but that the timing is wrong. We need time to gain an overview to ensure the best result. The Board will therefore continue to work for Danisco Sugar's independence. With two independent companies we will ensure the best future development opportunities while at the same time enabling the shareholders to target their investments at either a global ingredient business and/or a European sugar business. There are several ways of doing this, but the basic aim must be to obtain an independent listing of Danisco Sugar. This does not rule out other solutions offering more perspective and value creation, for instance that the sugar division becomes part of a conglomerate tying growers and sugar production closer together or by taking active part in a consolidation of the European sugar industry. Read more in the attached file.
Excerpt of the Chairman's report at the Annual General Meeting on 29 August 2007
| Source: Danisco A/S