US DuPont board approves spin-off of TiO2, fluoroproducts unit

24 October 2013 23:37  [Source: ICIS news]

HOUSTON (ICIS)--DuPont’s board of directors has authorised the separation of its Performance Chemical segment, which includes the Titanium Technologies and Chemicals & Fluoroproducts businesses, the US-based chemicals major announced on Thursday.

DuPont announced in July 23 that it would explore alternatives for its Performance Chemicals business as part of an ongoing portfolio review.

Subject to customary closing conditions, the spin-off is expected to be completed in about 18 months, and DuPont's Performance Chemicals segment will operate as an independent, publicly traded company.

“This separation will advance the transformation of DuPont and result in two strong, highly competitive companies,” said DuPont CEO Ellen Kullman. “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.”

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By: Tracy Dang
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