Danish industrial enzymes producer Novozymes (NZYMb.CO) said on Monday it welcomed new competition from U.S. chemicals giant DuPont (DD.N) in biofuel enzymes, as this could help establish the fledgling industry. DuPont said on Sunday it would pay $5.8 billion in cash and assume $500 million in debt to acquire Danish food ingredients and industrial enzymes group Danisco (DCO.CO), Novozymes' main rival. [ID:nN09219516] Novozymes and Danisco's Genencor enzymes division have a near duopoly as suppliers of enzymes to the bioethanol industry. Enzymes are used to break down biomass into substances that can be distilled into biofuel to be blended with gasoline.
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