Home / Knowledge / News / Textiles / DuPont to carve out new performance chemicals division
DuPont to carve out new performance chemicals division
25
Oct '13
DuPont advanced its transformation to a higher growth, higher value company as its Board of Directors authorized management to execute a full separation of its Performance Chemicals segment, which includes the Titanium Technologies and Chemicals & Fluoroproducts businesses. 

DuPont intends to execute the separation through a tax-free spin-off to shareholders, subject to customary closing conditions.  Upon completion of the separation in about 18 months, 100 percent of the new public entity will be owned by DuPont shareholders.

“Following a thorough strategic review process over the last year, the spin-off of Performance Chemicals is clearly the best option to deliver enhanced value for our shareholders.  This separation will advance the transformation of DuPont and result in two strong, highly competitive companies,” said DuPont Chair and CEO Ellen Kullman. 

“Our strategy is already delivering strong results.  After separation, DuPont will have the optimum portfolio and will benefit from more consistent earnings growth and lower volatility, enhancing our ability to deliver more sustained growth and invest in future opportunities.  Performance Chemicals will emerge as a top global industrial chemicals company with industry leading products and strong cash flow.”

The Performance Chemicals spin-off is DuPont’s latest portfolio enhancement guided by its strategic direction.  Since 2010, DuPont has executed a number of acquisitions and divestitures – including acquiring Danisco, a leading food and biosciences business, while divesting its Performance Coatings segment earlier this year.

Kullman said both DuPont and Performance Chemicals have experienced and talented employees, and valuable customer and partner relationships worldwide.  Each company will have a tailored capital structure that best supports its value creation plan, including capital allocation and credit profile. 

DuPont expects to enable both companies to pay dividends that in total equal DuPont’s dividend at the time of separation.  The company anticipates fourth quarter separation costs of $.01-.02 per share, which were not included in its third quarter 2013 earnings news release.

With an even clearer focus on science-driven growth, DuPont will advance its unique integrated capabilities in biology, chemistry and materials science to further strengthen its industry leading positions in agriculture and nutrition, bio-based industrials and advanced materials. 

Specifically, the company will continue to leverage its exceptional science capabilities across secular growth markets in food, energy, and protection, delivering shareholder value through revenue and earnings growth.


Must ReadView All

Pic: Shutterstock

Textiles | On 16th Oct 2021

China's economic growth reflects strong resilience, vitality: Li

Premier Li Keqiang has said China is capable and confident of...

Pic: Shutterstock

Apparel/Garments | On 16th Oct 2021

BGMEA urges Bangladesh govt to reskill & upskill RMG workers

The Bangladesh Garment Manufacturers and Exporters Association...

Pic: Shutterstock

Retail | On 16th Oct 2021

UK retail sales rises by 0.6% in Sep 2021; figure 5.6% in Sep 2020

Total UK retail sales rose by 0.6 per cent in September this year...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

The pandemic has reinstated need for organised retail spaces in Tier II...

Textile Industry, Head honchos

Textile Industry
Head honchos

Strongly believe in 'people first' policy.

Textile Industry, Head honchos

Textile Industry
Head honchos

Delay in adopting water sustainability both financially & environmentally...

Alberto Gotti,

Alberto Gotti

Danitech was born from the will of a group of technicians to offer the...

Richard Armitage,

Richard Armitage

Adaptive Control automates, controls and monitors machines, systems and...

Erwin Devloo,

Erwin Devloo

The Picanol Group is a diversified industrial group active worldwide in...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

Freudenberg Performance Materials is a leading global manufacturer of...

Dr Anup Rakshit, ITTA

Dr Anup Rakshit
ITTA

The Indian Technical Textile Association (ITTA) is the only association of ...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Samant Chauhan, Samant Chauhan

Samant Chauhan
Samant Chauhan

Delhi based fashion designer, <b>Samant Chauhan</b> who mostly works on...

Gaurang Shah, Label Gaurang Shah

Gaurang Shah
Label Gaurang Shah

Hyderabad based designer <b>Gaurang Shah</b>, has been traversing the...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search