30 August 2012 22:15 [Source: ICIS news]
HOUSTON (ICIS)--The sale of DuPont’s performance coatings business to investment group Carlyle will not include its titanium dioxide (TiO2) business, the producer said on Thursday.
US investment group Carlyle plans to buy DuPont’s car and truck-coatings business for $4.9b (€3.9b), marking DuPont’s exit from that market.
The acquisition is expected to close within the first quarter of next year, but afterward, DuPont will still have more than $3bn/year in sales of advanced materials to the auto industry, the company said.
“This deal will have no impact on our DuPont Titanium Technologies (DTT) TiO2 business,” a company spokesman said. “DTT will continue to be one of several suppliers of TiO2 to DuPont Performance Coatings.”
DuPont is the globe’s largest producer of TiO2, a white pigment used in paints and coatings, plastics, paper, cosmetics and other products because of its opacity.
North American TiO2 prices were assessed by ICIS at $1.95-2.04/lb ($4,299-4,497/tonne, €3,383-3,598/tonne).
($1 = €0.80)
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