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Reports; DuPont Considering Sale of Powder-Coatings Unit; No Comment from Company

Monday, October 17, 2011

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DuPont Company is considering the sale of its powder-coatings business and another joint-venture unit, according to business-media reports.

The company, however, is not commenting on the news reports.

The reports said DuPont, the third-biggest U.S. chemical company, is looking for buyers of the powder-coatings unit of its Performance Coatings division. The reports also said the company is seeking to sell a polyester-film joint venture, DuPont Teijin Films Ltd. The company’s partner in the venture is Teijin Ltd., based in Japan.

Gregg Schmidt, a DuPont media spokesman, said the company is declining any comment on the reports. “We don’t comment on rumors and speculation,” Schmidt told Durability + Design.

A Bloomberg report said DuPont CEO Ellen Kullman, who took the helm of the company in early 2009, is looking to direct the chemicals giant’s focus toward faster-growing businesses such as food enzymes and biofuels. The Bloomberg report cited the company’s $7.1 billion purchase of Danisco A/S earlier this year.

The reports said DuPont is also considering buying the 28% stake it doesn’t already own in its Solae LLC soy-products joint venture with Bunge Ltd.

The DuPont Powder Coatings business produces powder coatings for a wide range of applications, including products for architectural metals. (See DuPont Powder Coatings.)

   

Tagged categories: Acquisitions; Business matters; Coatings manufacturers; Coatings Technology; DuPont; Mergers; Powder coatings

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