23 July 2013 16:07 [Source: ICIS news]
(updates with comments from DuPont CEO Ellen Kullman)
HOUSTON (ICIS)--DuPont has set no firm timeline for reviewing and determining the future of its performance chemicals business, CEO Ellen Kullman said on Tuesday.
DuPont announced earlier on Tuesday that it will be exploring “strategic alternatives” for the performance chemicals segment, including a spin-off, in order to become a less cyclical company.
During DuPont's second-quarter results analysts’ call, Kullman said that at this time the company was considering alternatives for the business but had not yet made any decisions.
The review of performance chemicals was prompted by the business’ cyclicality, volatility and low growth, she said.
DuPont’s integrated sciences approach “really can’t help make a difference” to differentiate the performance chemical businesses, except for areas like costs and productivity, she said.
“So, we need to make sure what the right future of that business is" and determine what are the options to create the best value for shareholders, Kullman said.
DuPont’s performance chemicals segment had sales of $7.2bn (€5.5bn) in 2012. It includes DuPont’s Titanium Technologies and its Chemicals & Fluoroproducts businesses.
($1 = €0.76)
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