DuPont has signed an agreement to acquire US medical device contract manufacturer Donatelle Plastics. The transaction is expected to close in the third quarter 2024, subject to satisfaction of customary closing conditions and receipt of regulatory approvals. Financial details of the deal were not disclosed.
On Wednesday, DuPont announced plans to separate into three publicly traded companies. The Electronics and Water businesses will become independent companies, with the remainder of the company to comprise New DuPont. The splits are expected to be complete within 18 to 24 months, and do not require shareholder approval, the company said.
DuPont officially opened its new adhesives production facility in Zhangjiagang (ZJG), eastern China, on Wednesday. The new facility will produce adhesives to serve customers in the transportation industry, primarily in lightweighting and fast-growing vehicle electrification applications, the company said.
DuPont has agreed to sell an 80.1% ownership interest in the Delrin acetal homopolymer (H-POM) business to private equity company TJC in a transaction valuing the business at $1.8 billion. The transaction is expected to close around year-end 2023, subject to customary closing conditions and regulatory approval.
3M has agreed to pay $10.3 billion to resolve legal challenges brought against the company by US public water systems over its discharges of polyfluoroalkyl substances (PFAS) into US waterways. The deal is subject to approval by a US federal court.
DuPont and former group units Chemours and Corteva have agreed to pay more than $1 billion to settle out of court US claims that per- and polyfluoroalkyl substances (PFAS) discharged from their plants contaminated waterways that supply a majority of US public water systems.
DuPont has agreed to pay US private equity firm AEA Investors $1.75 billion to acquire Spectrum Plastics Group, a small specialty plastics company based in Atlanta, Georgia. The price is a 15.6x multiple on Spectrum’s forecast 2023 EBITDA.
Du Pont has been found guilty of criminal negligence and fined $12 million in connection with a November 2014 explosion that killed four employees of its methyl mercaptan plant in LaPorte, Texas, and caused extensive environmental damage.
US agrochemicals company Albaugh has acquired DuPont spinoff Corteva Agriscience’s straight-goods glyphosate business for an undisclosed sum. The deal is for intangible assets only, such as trade names, registrations, regulatory data, formulations, patents and know-how used worldwide, excluding Argentina.
Acting on behalf of the Environmental Protection Agency (EPA) and the US Attorney’s Office for the Eastern District of Louisiana, the US Department of Justice has ordered Japanese plastics and rubber producer Denka Performance Elastomer to “significantly reduce” hazardous chloroprene emissions from its neoprene plant in LaPlace, Louisiana.
DuPont has terminated the agreement announced in November last year to acquire the outstanding shares of electronics materials specialist Rogers Corporation for $5.2 billion.
The European Commission has cleared Celanese’s proposed purchase of DuPont’s Mobility and Materials (M&M) business after the former agreed to sell its global thermoplastic copolymer business to allay competition fears.
US agricultural company Corteva, which combines businesses formerly belonging to DuPont, Dow and Pioneer, has agreed to buy Symborg, an expert in microbiological technologies based in Murcia, Spain. Financial terms were not disclosed.
Celanese has offered concessions to EU regulators to allay concerns about its proposed $11 billion acquisition of DuPont’s Mobility and Materials business, according to Reuters.
American Chemistry Council (ACC), the industry association representing US chemical producers, is suing the US Environmental Protection Agency (EPA) over its Lifetime Health Advisories (LHAs) for per-fluoroalkyl and poly-fluoroalkyl chemicals (PFAS).
DuPont Sustainable Solutions has been rebranded as DSS+ with effect from Feb. 28. After separating from parent DuPont in September 2019 in a spinoff backed by Swiss private equity group Gyrus Capital, the company became an independent consulting firm to industrial sectors such as chemicals, oil & gas, mining, metals and manufacturing.
DuPont has agreed to sell most of its Mobility & Materials (M&M) segment to Celanese for $11 billion on a cash and debt-free basis. The deal – DuPont’s biggest since splitting from DowDuPont – is expected to close around the end of this year, subject to regulatory approvals and customary conditions.
DuPont Mobility & Materials said it plans to invest $5 million in capital and operating resources at its plants in Germany and Switzerland to increase capacity for its high-performance automotive adhesives.
Dago Caceres, Global Strategy Manager for Pharma Solutions at IFF, talks about the new IFF and the strategy ahead for the pharmaceutical division in particular.
DuPont is investing approximately $30 million in a new car adhesives plant in Zhangjiagang, Jiangsu province, China. Construction on the facility at the Yangtze River International Chemical Industrial Park in the Zhangjiagang Free Trade Zone will start in Q3 2021, with start-up scheduled for early 2023.
After completing the purchase of DuPont’s nutrition and biosciences unit, International Flavors & Fragrances (IFF) is looking to divest at least two of its expanded businesses, the Bloomberg news agency said, citing “people with knowledge of the matter.”
DuPont has agreed to sell its Clean Technologies business for $510 million to an international private equity consortium, comprising BroadPeak Global, Asia Green Fund and The Saudi Arabian Industrial Investments Company (Dussur).
DuPont, along with Chemours, its former fluourochemicals and plastics business, and Corteva, the combined agrochemicals businesses of DuPont and Dow, have buried the hatchet and announced a cost-sharing agreement worth $4 billion to settle lawsuits over liability for discharges into US waterways of perfluorinated compounds such as PFAS and PFOA.
DuPont has started a share exchange offer as part of a Reverse Morris Trust transaction that will see it merge its Nutrition & Biosciences (N&B) business into International Flavors & Fragrances (IFF). The offer allows DuPont shareholders to swap all or part of their common stockholding for N&B shares, which will convert into IFF shares.
So far, the pharmaceutical industry — including CMOs/CDMOs — has responded well to the outbreak of the Covid-19 pandemic.
Dupont has announced the sale of its trichlorosilane (TCS) business and its equity interest in the Hemlock Semiconductor (HSC) joint venture to Hemlock for $725 million. The business, based in Saginaw County, Michigan, USA, produces TCS, which is a key raw material for HSC’s high-purity polysilicon that it supplies to the semiconductor and solar industries.
The fate of the agrochemical innovation, development, product launch and production are strongly linked to the parallel development of the fine chemicals and custom manufacturing industry.
