22 October 2013 16:17 [Source: ICIS news]
HOUSTON (ICIS)--DuPont is continuing to evaluate strategic options for its performance chemicals business, but it aims to quickly conclude the process, the CEO of the US-based producer said on Tuesday.
“We want to get this done as quickly as we can,” Ellen Kullman said in response to analysts’ questions during DuPont’s third-quarter earnings call.
“We are moving with a sense of urgency,” she added.
She did not provide a precise timeline and did not say what form the separation of the business may take.
DuPont had announced the evaluation in July. Since then, “we made significant progress in our effort to evaluate a wide range of options,” Kullman said.
“From the positive side [the performance chemicals business] creates cash, on the negative side it creates create volatility, and at the end of the day we have to understand what is the best for our shareholders, how do we create the most value there,” she said.
DuPont’s performance chemicals business includes titanium dioxide (TiO2), fluoropolymers and chemicals.
Earlier on Tuesday, DuPont reported a 38% year-on-year decline in performance chemicals' third-quarter operating earnings, to $254m (€185m). The segment’s sales were down 1% to $1.72bn.
($1 = €0.73)
Additional reporting by Franco Capaldo
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