US DuPont attracts interest for every one of its noncore assets

Author: Al Greenwood

2020/07/30

HOUSTON (ICIS)--DuPont has attracted interest for every one of its noncore assets, the CEO of the specialty chemicals producer said on Thursday.

"We're in negotiations on every one," said Ed Breen, CEO. He made his comments during an earnings conference call. Most of the interested parties are strategic investors.

The disruptions caused by the coronavirus have slowed down the process, he said. It takes more time to conduct due diligence, visit sites and conduct environmental studies.

Were it not for the pandemic, DuPont may have announced some deals by the time it released its second-quarter earnings, Breen said.

"Hopefully, we'll make some progress here in the back half of the year," he said.

The noncore businesses include Sorona, which is a brand of polytrimethylene terephthalate (PTT). The PTT is made with renewable 1,3 propanediol and either an acid or an ester.

The company's process-technologies business sells DuPont's Stratco alkylation; MECS sulphuric-acid, Isotherming hydroprocessing; and Belco wet-scrubbing technologies.

Teijin films make Mylar and Melinex polyester films.

Other noncore businesses make metalisation pastes such as Solamet; Tedlar polyvinyl fluoroproducts, Fortasun silicon encapsulants and adhesives, trichlorosilanes and polycrystalline silicon.

DuPont considers its safety consulting business noncore.

Meanwhile, DuPont is in the midst of merging its Nutrition & Biosciences segment with International Flavors and Fragrances (IFF).

That deal remains on track to close in the first quarter of 2021.

DuPont's other core segments are Electronics and Imaging; Transportation and Industrial; and Safety and Construction.

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