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2009/8 DuPont、成長路線へ組織簡素化

DuPont は813、需要家志向、成長、市場志向での拡販増益を支えるための行動を発表した。

今後、4つの新しいトレンドに革新エンジンを集中する。
 ・食糧需要の増大
 ・人間と環境の保護
 ・化石燃料依存の減少
 ・新興成長市場の成長

これに合わせ、現在23あるセグメントを14に統合する。

新 報告単位 Segment (14) 現行 Segment (23)
Agriculture & Nutrition Pioneer Hi-Bred Pioneer Hi-Bred
Crop Protection Crop Protection
Nutrition & Health Nutrition & Health
Electronics & Communications Electronics & Communications Displays
Electronic Technologies
Fluorochemicals
Fluoropolymers
Imaging Technologies
Performance Coatings Performance Coatings Automotive Systems
Refinish Systems
Advanced Coatings Systems
Titanium Technologies
Performance Materials Performance Polymers Engineering Polymers
Performance Elastomers
DuPont Teijin Films
Packaging & Industrial Polymers Packaging & Industrial Polymers
Safety & Protection Protection Technologies Personal Protection
Advanced Fiber Systems
Nonwovens
Building Innovations Surfaces and Building Innovations
Safety Resources Safety Resources
Performance Chemicals Chemical Solutions Specialty and Performance Chemicals
Industrial Chemicals
Fluoroproducts  
Titanium Technologies  
Pharmaceuticals Pharmaceuticals (下記参照)  

同社の損益状況は以下の通り。

*2001/10に医薬部門をBristol-Myers Squibb に売却
  しかし、
CozaarR)HyzaarR)の特許は維持しMerckにライセンスした。
  この特許料が大きな利益となっている。

 2004 Textiles & Interior (Invista) Kochに売却 


DuPont News, October 30, 2009

DuPont's Board of Directors Appoints CEO Ellen Kullman Chair

DuPont's board of directors has elected DuPont CEO Ellen Kullman Chair, effective December 31.  Chad Holliday will retire from the board after 11 years as its Chairman.

As previously announced in September 2008, Ellen became CEO effective January 1 after Chad served as DuPont's CEO for 10 years. Chad continued as Chair of the Board for a brief transition until Ellen's expected succession as Chair.

"I am honored to have been selected Chair by the board of directors," Ellen said.  "DuPont is well-positioned for our next phase of delivering growth. We have strong market positions and global channels to bring our culture of scientific inquiry, innovation and strong customer focus to connect our technologies directly with the needs of the global marketplace."

"Ellen's innate leadership skills, acute market focus and strong track record were the basis for the board's decision that she is the right person as its Chair. I am confident Ellen will be an outstanding Chair and CEO," Chad said. "For over 35 years, I have had the unique privilege of being part of DuPont. I look forward to watching in the years ahead, under Ellen's leadership, as DuPont continues to address the world's need for science-based solutions."


2010年2月5日

トウモロコシ穂軸やバイオ作物からセルロース系エタノールを製造する、初の高性能生産施設がオープン
DDCE、UT/ジェネラエナジー、およびテネシー州がボノアで開所式

DuPont Danisco Cellulosic Ethanol (DDCE)、テネシー大学(UT)およびGenera Energyの代表者たちは、Vonore, Tenn.に開設された、世界初に数えられるセルロース系エタノール実証施設の開所式を行いました。74,000平方フィート(約6,900平方メートル)の同施設ではすでにエタノールの製造が開始されており、今後は低コストで完全一体型の技術を駆使し、トウモロコシの穂軸corncobsやスイッチグラスswitchgrass.などの農業残滓(ざんし)やバイオ作物を原料とするエタノールの商業生産が実現します。

DDCE was formed in 2008 as a joint venture of DuPont, an international leader of chemical, materials, and energy science since the early 1800's; and, Danisco's Genencor division which since 1982 has been one of the world's leaders in industrial biotechnology. Together, the parent companies have invested over $100 million in technology development over the past decade and have made a substantial patent estate available to DDCE and its customers.

Danisco is a world leader in food ingredients, enzymes and bio-based solutions. We design and deliver bio-based ingredients that meet market demand for healthier and safer products.

本部 (デンマーク)
ダニスコグループは世界でも有数な機能性食品素材メーカーとして、世界各国の食品業界に商品を提供しています。
47
カ国に約9,500人の従業員を擁し、20084月期単年決算での売上高は188億デンマーククローネです。

ダニスコグループのプロダクト・ポートフォリオは、乳化剤、安定剤、酵素、酸化坑止剤、カルチャー、機能性甘味料、機能性素材、食物繊維。

A Danisco Division, Genencor is one of the largest developers and manufacturers of industrial enzymes and one of the largest biotechnology companies in the world.

州知事の支持を受けているテネシー大学のバイオ燃料イニシアティブは、バイオ作物の研究と新興産業向けの生産基準を確立し、次世代バイオ燃料をリードするDDCEを誘致し、セルロース系エタノールを精製するバイオリファイナリーの開発における産業界からのパートナーとして迎え入れました。テネシー大学バイオ燃料イニシアティブ(UTBI)は、ジェネラエナジー社の支援を受けて燃料開発のサプライチェーンを構築しています。

ボノアに建つ最新鋭の生産施設では年間25万ガロン(約95万リットル)のエタノール製造が可能ですが、同施設の狙いは大量生産用の技術を最適化することにあります。本施設にはUTBIとDDCEからの資金を含め、5,000万ドル以上の投資が投じられています。また、本プロジェクトは、米国デュポン社とダニスコ社が独自の研究に投じたおよそ1億ドルの投資、両社による非常に価値の高い知財基盤と人財、およびUTBIの下でまかなわれなかった運営費用を支払うとしたDDCEの公約を集約したものでもあります。ボノア工場には現在およそ20人の常勤スタッフが勤務しています。

ジェネラエナジー社のCEOで、テネシー大学バイオエネルギー・プログラムの外部活動責任者であるケリー・ティラーは次のように語っています。「テネシー大学バイオ燃料イニシアティブは、バイオリファイナリーにおいて豊富な量の、手頃な価格の、再生可能かつ持続可能な燃料を生産するにあたり、これを可能にするために必要な原材料の安定供給を目的とした、農家と農産業界の連携による唯一の完全一体型プログラムです」また、彼女は今後の計画について、今春にはテネシー州の農家にスイッチグラスの作付面積をさらに4,000エーカー(約16.2キロ平方メートル)増やしてもらい、州内での専用エネルギー作物の合計作付面積をおよそ7,000エーカー(28.3キロ平方メートル)にする予定であると語っています。

DDCEについて
イリノイ州アイタスカに本拠を置くデュポン・ダニスコ・セルロースエタノール社(DDCE)は、セルロース系エタノールの生産を確実かつ低コストで実現するための包括的ソリューションの開発と実用化に取り組み、エネルギーの自給、農村および全国規模の経済発展、低炭素輸送に貢献しています。同社の詳細につきましては、www.ddce.comをご覧ください。

ジェネラエネジー社について
ジェネラエネジー社は、テネシー大学研究財団が完全所有する営利目的の有限責任会社です。ジェネラ社は、民間の研究開発投資ともに州および連邦からの資金の活用を実施する機関として、テネシー州およびテネシー大学における研究、経済開発、およびクリーンなエネルギー開発のための目標を推進するための戦略的提携および協力を提供しています。


DuPont May 17, 2010

DuPont Announces Intent to Acquire Interest in Zhonghao

DuPont recently announced its intent to acquire a minority share in
Changshu 3F Zhonghao New Chemical Materials Co., Ltd., pending completion of definitive agreements and securing appropriate Chinese government approvals.
Shanghai 3F New Materials Co., Ltd., is the majority owner of Zhonghao.

Changshu 3F Fluorochemical Industry Co., Ltd(常熟三愛富気化工), subsidiary companies of Shanghai 3F New Chemical Materials Co., Ltd, are located in Jiangsu Hi-tech Fluorochemical Industry park. When founded in 1975, the company's name was Changshu Refrigerants Company, and was reformed into Changshu 3F Fluorochemical Industry Co., Ltd in 1993.
In 2001, we invested and established the Changshu 3F Zhonghao New Chemical Materials Co., Ltd.

"Our relationship with Zhonghao has matured into a successful strategic partnership over the last eight years," said Gary Spitzer, president ? DuPont Chemicals & Fluoroproducts. "Zhonghao's world-class fluorochemical manufacturing capabilities will strengthen our ability to better serve our customers worldwide. It also will enable a faster response to rapidly growing regional markets for our broad portfolio of fluorochemicals across all applications. This applies for existing and future chemistries for refrigerants or for our specialty fluorochemicals markets."


2010/8/4 Korea Times

DuPont suspected of anti-competitive behavior

South Korea's antitrust watchdog is investigating the local unit of U.S. chemical company DuPont for alleged anticompetitive behavior against its Korean rival, Kolon Industries.

Kolon filed a complaint to a U.S. federal court last month, claiming that DuPont has been pressing its American buyers not to purchase Kolon's brand of "aramid"
fibers that are used for making protective military and aerospace wear and equipment.

The focus of Korea's Fair Trade Commission (FTC), which recently sent investigators to DuPont's Seoul office, is to confirm whether the firm's alleged abuse of its market power in the U.S. affected competition in Korea in any way.

``We are still gathering facts. If we find enough evidence suggesting that DuPont's behavior has affected the competition in the Korean market, we will begin an official investigation,''
said an FTC spokesman.

DuPont and Kolon are engaged in a lengthy dispute over the rights to market aramid fibers, with DuPont accusing its Korean rival of stealing its core technologies for its Kevlar brand aramid fiber to developing a competing project.

A U.S. court had sentenced a former DuPont employee to an 18-month prison term last year on charges of handing critical information on Kevlar fiber to Kolon. Kolon, on the other hand, claims that it developed its aramid fiber product independently.

DuPont, Kolon and Japan's Teijin are currently the world's few companies that are managing to produce aramid fibers, which is distinctive for its strong resistance to high temperature and chemicals and increasingly used to make products such as helmets and protective vests.

DuPont, which has a strategic partnership with Teijin, has predominant control over the global market for aramid fibers, which is currently valued at around $1.4 billion, and Kolon has been desperate to up its 4 percent market share. Kolon is seeing further competition from domestic rival Hyosung, which is ready to produce aramid fibers at its new factory in Ulsan.

DuPont produced 28,000 tons of aramid fibers last year, while Teijin produced 25,000 tons. Kolon was a distant third with its production of 2,000 tons. Kolon recently expanded the manufacturing lines at its factory in Gumi with the goal of upping its production capability to an annual 5,000 tons.

The two companies have been locked in the legal dispute in the U.S. since 2009.

Dupont sued Kolon last year in the U.S., claiming theft of technology and trade secrets related to Kevlar fiber used in body armor in February 2009. Kolon filed a countersuit in April the same year, accusing the U.S. firm of monopolizing the market.

"Kolon's lawsuit against us (Dupont) in the U.S. was a counter-claim against our suing of them earlier regarding technology theft. Their claim has been dismissed by a U.S. federal court twice already since April 2009,"
the official said.

  パラ系アラミド メタ系アラミド
poly-p-phenylene-
terephthalamide
左に
ジアミノフェニレン-
テラフタルアミドを共重合
poly-m-phenylene-
isophthalamide
DuPont
東レ・デュポン
Kevlar   Nomex
帝人 Twaron* テクノーラ コーネックス
Kolon Heracon    

* Courtauldsの繊維部門Enkaが開発、DuPontとの特許紛争解決
 AkzoNobelがCourtauldsを買収、EnkaとCourtauldsの繊維、化学部門を統合して
     Acordis設立
 (Acordissは1999年にCVC Capitalが買収)

 1987年に住友化学とEnkaが日本アラミドを設立

 2001年に帝人がAcordisのアラミド事業を買収(日本アラミドも)

---

2010/3/22 ICIS news

Kolon Industries refutes DuPont's allegation of technology theft

South Korea's Kolon Industries is prepared to defend itself against accusations of theft of trade secrets by US producer DuPont, a company spokesperson said on Monday.

In an emailed statement, Kolon Industries' Ki-Soo Kim said that the company was monitoring DuPont's pending civil lawsuit on the alleged theft of trade secrets and that it used its own proprietary technology to produce aramid fibre.

DuPont has alleged that the South Korean producer illegally obtained trade secrets and confidential information about the US firm's Kevlar aramid fibre technology.

Kolon Industries will take action to prove that its product does not have any problems with laws that pertain to research and development and manufacturing, Kim said.

Aramid fibre is a chemical fibre that is used in products such as bullet-resistant vests, helmets and tyres.

Kim said that Kolon Industries "produced aramid by [its] own developed technology".

Michael Mitchell, a former DuPont employee who started working on behalf of Kolon Industries in 2006, was last week sentenced to 18 months in US prison for theft of trade secrets.

Mitchell pleaded guilty to the charge in December 2009.

According to a court filing from DuPont, Kolon's "attempts to bypass legitimate research and development, and to use DuPont's confidential information and trade secrets to improve their own production processes, is wrongful".

The US firm alleged that the marked improvement in Kolon's product offering in the last three years had been a direct result of the illegal use of its proprietary Kevlar technology, according to court documents.

---

February 3, 2009 Bloomberg

DuPont Sues Kolon, Claims Kevlar Trade Secrets Theft

DuPont Co. sued South Korea's Kolon Industries Inc. claiming theft of trade secrets related to its Kevlar brand aramid fiber, used in protective clothing for police and the military.

DuPont filed the suit today in federal court in Richmond, Virginia, the company said in a statement. DuPont said it is also filing a suit today in Canada and is considering filing similar claims in other countries.

"We will aggressively pursue anyone who tries to steal our intellectual property," Thomas L. Sager, Wilmington, Delaware- based DuPont's general counsel, said in the statement.

DuPont, with $30.5 billion in sales last year, planned to stop production at its Kevlar plant in Northern Ireland for a month as demand for the bullet-proof fiber fell, according to a November report in the Irish News.

Gyeonggi, South Korea-based Kolon and its Fairfield, New Jersey, unit "have engaged in concerted and persistent actions to wrongfully obtain DuPont's trade secrets" and have "hired and attempted to hire former DuPont employees" for that purpose, according to a copy of the complaint provided by DuPont.

Kolon interfered with DuPont's business by hiring a former DuPont engineer and sales representative who left the company in 2006 and formed Aramid Fiber Systems LLC of Chesterfield, Virginia, at the prompting of Kolon, according to court papers.

Confidential Information'

The former DuPont employee "retained certain highly confidential information on his home computer" and passed the information to Kolon, the lawsuit contends.

No action has been taken against the former DuPont employee, company spokeswoman Cathy Andriadis said. The man couldn't immediately be located for comment.

Officials of Kolon didn't immediately return telephone and e-mail messages seeking comment on the lawsuit.

DuPont asks a judge to order Kolon to preserve all data and let DuPont inspect its computers; to return all trade secrets; to stop contacting former DuPont employees; and to pay unspecified compensatory and punitive damages.

DuPont rose 70 cents to $23.35 at 4:01 p.m. in New York Stock Exchange composite trading. The stock has fallen 7.7 percent this year.

Kolon, with $1.65 billion in 2007 sales, rose 450 South Korean won to 27,350 in trading in Korea today. The shares have gained 13 percent this year.

The case is E. I. du Pont de Nemours and Co. v. Kolon Industries Inc., U.S. District Court, Eastern District of Virginia (Richmond).

 


2010/8/18 デュポン

米デュポン、中国 Chenguang社とフッ素ゴム合弁事業設立の意向を表明

デュポンパフォーマンスポリマー事業部とChenguang Chemical Research Institute、中国におけるフッ素ゴム合弁事業設立の意向を表明
投資を通じ顧客対応能力を強化

  米国デュポン社のパフォーマンスポリマー事業部と、中国化工集団公司 (ChemChina)の子会社である中昊晨光化工研究院(
Chenguang Chemical Research Institute:以下 Chenguangg社)は、2010年8月17日(現地時間)、Chemchinaの北京事務所において、中国におけるフッ素ゴムおよびプリコンパウンド の製造と販売を行う折半出資の合弁事業設立について、同意書を交わしたと発表しました。この合弁会社は、正式契約の締結および適切な政府認可の取得をもっ て、上海に新しく建設するプリコンパウンド工場も含め、2011年後半から事業を開始する予定です。

 「今回の合弁事業は、デュポンが リードするフッ素ゴム技術と世界規模のネットワーク、およびバイトン(R)という強力なブランドと、Chenguang社の一貫した生産体制と強力な存在感を結合させ、新たな顧客サービス力を生み出します」と、パフォーマンスポリマー事業部統括責任者(プレジデント)のダイアン・グーリャスは語っています。「今回の投資により、デュポンは急成長を遂げているフッ素ゴム需要に対する供給能力を向上させるとともに、中国および世界各地の顧客に向け、業界最高 レベルの製品および技術ベースのソリューションを提供することが可能となります」

 「Chenguang社は中国のフッ素ゴム市場をリー ドする地位を確立しており、今回の合弁事業は当社の能力と技術力をさらに強化させるとともに デュポンとChemChinaの将来の協力のための成功モデルとなるでしょう」と、ChemChina副社長のXiao Sen Fen(范小森)は語っています。「世界規模の企業とのパートナーシップを通じ持 続可能な業界最高レベルのソリューションを開発することは、ChemChinaおよびChenguang社にとって重要な戦略です」

 Chenguang Chemical Research Instituteは、中国化工集団公司(ChemChina)の子会社で、2004年5月に設立された国営企業です。設立以来、 ChemChinaは「伝統的な化学、先進の素材」を開発のコンセプトに、グローバルな視点、経験を生かし、化学業界における主要なポジションを維持しな がら中国内に高品質の製品とサービスを提供しています。ChemChinaの優秀な子会社として、優れた研究開発能力、技術、設備で中国のフッ素ゴムを リードしています。


September 1 2010

DuPont and Sinopec start EVA production in Beijing

DuPont and China Petroleum & Chemical, known as Sinopec, have started production at their joint venture ethylene vinyl acetate production plant in Beijing, the parties said.

The facility will be DuPont's first EVA production in China, which it said is the world's fastest-growing market for the material.

EVA products made by the Beijing joint venture will carry DuPont's Elvax brand and will be marketed by DuPont. The Beijing facility is designed to provide more local support to customers there entering higher value applications, DuPont said in a release.

The Beijing Huamei Polymer is 55% owned by Sinopec and 45% by DuPont, the companies said in previous announcements.

When the project was first announced in 2007, DuPont projected a 2008 start-up but a spokesperson said that was delayed to insure a safe construction.


September 20, 2007

DuPont Packaging & Industrial Polymers (P&IP) and Sinopec today formed a joint venture to produce ethylene vinyl acetate (EVA) resins in China.  The location for the plant will be at the existing facility of Sinopec Beijing Yanshan Company in Beijing.   Startup of EVA production is planned for late 2008.

北京燕化石油化工(旧称 燕山石化)

The joint venture combines the technological and manufacturing expertise of the partners and will supply competitively a broad range of specialized high-quality EVA products.  The new facility will help meet the fast growing demand for EVA products in China.  The offerings will serve market segments such as packaging, adhesives, printing, wire and cable, footwear, and apparel.

This joint venture is 55 percent owned by Sinopec and 45 percent owned by DuPont, with an annual production capacity of about 60 kilotonnes. The combination of the manufacturing expertise of Sinopec and the latest EVA technology from DuPont P&IP will open up new business opportunities to serve different market segments in China.  The new facility will enhance the existing manufacturing capability of Sinopec and capture the rapid emerging market demand.

This joint venture marks an important milestone for the DuPont Company.  It will be the first EVA (Elvax(r)) facility of DuPont P&IP in China, in partnership with Sinopec.  It will help strengthen the position of DuPont in the world's fastest growing EVA market and support its customers as they grow and expand to specialty products for high-value applications.

Sinopec is an integrated energy and chemical company that is engaged in oil and gas exploration and production, and the production and distribution of oil and chemical products.  Sinopec is the largest petroleum products (including gasoline, diesel oil, jet kerosene etc.) producer and distributor and main petrochemical products (including intermediate petrochemical product, synthetic resin, synthetic fiber monomer and polymer, synthetic fiber, synthetic rubber and fertilizer) producer and distributor in China, it is also the second largest crude oil producer in China.  Sinopec Beijing Yanshan Company is an extra large petrochemical complex directly under Sinopec, which can produce 99 kinds and 449 grades of petrochemical products.  Its output of synthetic resin, synthetic rubber, phenol and acetone takes the first place in China.

DuPont started its business in China in the mid-1980s.  Today, DuPont China has 35 wholly owned and joint venture manufacturing facilities, and about 5,500 employees in the country.  Its products and services covered diversified markets in the chemical, agricultural, food and nutrition, electronics, textile and automotive industries.  As of now, the total investment in China has exceeded $700 million.  The company announced in May 2005 to double its China investment to $1.2 billion by 2010.

DuPont is a science-based products and services company.  Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere.  Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.

 


Sept.13, 2010 

INVISTA and DuPont Settle Lawsuits Over Engineering Polymers Technology, Adiponitrile Technology and Supply Agreements

INVISTA and DuPont announced they have signed a settlement agreement that resolves
three existing lawsuits between the companies concerning polymers technology, adiponitrile (ADN) technology and disputes related to existing supply agreements.

The settlement resolves litigation over
supply and technology agreements between DuPont's Performance Polymers business and INVISTA's Intermediates business dating back to INVISTA's separation from DuPont and sale to subsidiaries of Koch Industries in 2004. The settlement clarifies the respective rights and obligations of the companies, forming a strong foundation for both to focus on creating long-term value for their customers and the nylon 6,6 industry.

Terms of the agreement were not disclosed.

2008/8/22 Invista、ナイロン原料技術でDuPont Rhodia を提訴

ナイロン原料のアジポニトリルの製造技術に関するもので、 Rhodia DuPont が組んで、Invista の機密の、世界のトップレベルの技術を、アジアでの競合工場建設のために不当に利用しようとしているとしており、これの差し止めと、被害に対する補償を求めている。

2008年11月、DuPont は、ナイロン6.6 エンプラで特許を侵害しているとして、逆にInvistaを訴えた。
エンプラについては権利を与えていないとしている。

November 11, 2008

DuPont Files Federal Lawsuit Against INVISTA to Protect Intellectual Property

DuPont today filed a lawsuit claiming INVISTA is infringing a DuPont patent and has misappropriated DuPont trade secrets and proprietary information relating to DuPont's nylon engineering resins business. The suit was filed in U.S. Federal Court in the Southern District of New York.

DuPont is seeking a permanent injunction, declaratory relief and damages relating to the INVISTA production of nylon 6,6 engineering resins. DuPont claims INVISTA misappropriated DuPont trade secrets, infringed on the company's patents and breached a Patent and Technical Information Agreement. Under the terms of this agreement, INVISTA is not allowed to use DuPont technology to make nylon 6,6 engineering resins for several years.

"As a science company, DuPont has long been committed to protecting its patents, trade secrets and proprietary technology," said DuPont Senior Vice President and General Counsel Thomas L. Sager. "Based on its statements and actions involving the production of nylon 6,6 engineering resins, INVISTA apparently has infringed one or more DuPont patents, breached a technology transfer agreement with DuPont and misappropriated other valuable DuPont intellectual property. To continue to invest in the kind of innovations our engineering resins customers expect from DuPont, we must protect our investment in this valuable technology."

他の訴訟(disputes related to existing supply agreements)については不明。

上記に関して、Rhodiaに対する訴訟については記載無し。

Paris,August 20, 2008--- Rhodia considers the lawsuit filed by Invista on Friday, August 15, 2008 against Rhodia and DuPont regarding adiponitrile ("ADN") technology to be completely without merit.

The case filed in the U.S. District Court for the Southern District of New York forms part of Invista's attempts to prevent Rhodia from challenging Invista's dominant market position in polyamides. It follows several other unsuccessful litigation efforts Invista has pursued against Rhodia, including a similar lawsuit against Rhodia that Invista filed in Texas on October 9, 2007 and voluntarily withdrew on August 15, 2008. Rhodia will vigorously defend its interests against Invista's allegations and will continue the development of its Polyamide business.

---

February 2, 2010

Court cases to stop use of INVISTA ADN technology proceed against Rhodia, partners
US Federal court denied Rhodia's request for dismissal
French arbitration panel lacks jurisdiction over Rhodia S.A., defendant in Delaware case

INVISTA's defense of its world-leading nylon technology continues in pending court cases in Delaware and New York, bolstered by a Paris arbitration panel affirming that it lacks jurisdiction over Rhodia S.A., the sole defendant in the Delaware case.

In the U.S. legal proceedings, INVISTA seeks to stop French competitor Rhodia and its potential venture partners from misappropriating INVISTA's technology.

"Arbitration in France continues and remains a confidential proceeding," said INVISTA spokesperson Mary Beth Jarvis, "but the panel's preliminary findings, discussed last week in a press release by Rhodia, certainly do not give Rhodia the freedom to use the INVISTA technology that Rhodia needs to build a new ADN plant."

"In the meantime, INVISTA's legal actions continue against Rhodia in Delaware and against one of its potential venture partners in federal court in New York. We will continue to defend aggressively our world-leading nylon technology against any parties who attempt to use it illegally."

INVISTA filed the Delaware case in late 2008. Rhodia sought to have the case dismissed or stayed, asserting that the issues should only be dealt with via arbitration in France. The Delaware court subsequently denied Rhodia's motion, refusing to compel arbitration and allowing INVISTA's case to proceed.

The Delaware court ruled for INVISTA on the basis that the INVISTA entities who actually own the technology are not subject to the arbitration provision included in the agreement that formed the France-based joint venture between affiliates of INVISTA and Rhodia.

また、DuPont時代の安全・環境面の違反事件についても記載無し。

2009/4/20 InvistaDuPont 時代の安全・環境面の違反で当局と和解

In March 2008, INVISTA filed a lawsuit in federal court in New York seeking damages and a court order requiring DuPont to fulfill its contractual obligations. The lawsuit seeks compensatory damages in excess of $800 million, plus punitive damages because DuPont knew of several safety and environmental violations that placed its employees and the public at risk, but took no action to rectify them or disclose them to INVISTA. On March 30, 2009, the court denied DuPont's motion to dismiss this lawsuit, allowing all elements of the case to continue, including INVISTA's pursuit of punitive damages.


DuPont News, November 24, 2010 

DuPont Reaches Agreement to Settle Spelter Lawsuit

Yesterday, DuPont and attorneys for the class members involved in a lawsuit regarding the company's former facility in Spelter, W.Va., announced a proposed settlement of the lawsuit.

The proposed settlement, which is pending approval in Harrison County (W.Va.) Circuit Court, calls for DuPont to pay $70 million for clean-up costs and other costs and expenses associated with the litigation. The settlement also establishes a limited medical monitoring program, in which DuPont has agreed to provide periodic medical testing and medical check-ups to class members for a period of 30 years to test for any possible effects from the Spelter facility. Class members will be notified by mail and by public advertisements of the proposed settlement and will be invited to a final hearing on the settlement which is tentatively scheduled for Dec. 30 in the Harrison County courtroom of Circuit Judge Thomas Bedell.

the terms and conditions of the proposed settlement

"DuPont is pleased to reach an agreement that places our focus on the Spelter site and the community and not on lengthy and contentious legal proceedings,"
said Tom Sager, DuPont General Counsel. "DuPont has had manufacturing operations in West Virginia for more than 80 years with a solid track record of investment, employment and community involvement. We remain committed to operating our facilities in the state consistent with our core values and continue to play a meaningful role in the economic future of West Virginia."


November 25, 2010  delawareonline.comi

Settlement might cost DuPont $150M
W. Va. medical monitoring promised for 30 years

Wilmington-based DuPont Co. will pay as much as $150 million to settle claims that the company's smelting plant in Spelter, W. Va., exposed residents there to toxins. That's according to attorneys for the plaintiffs who discussed the case with Bloomberg News.

DuPont this week said that it had agreed to settle the claims for
$70 million, plus the cost of medically monitoring the plaintiffs with check-ups and tests for 30 years. Alabama attorney Farrest Taylor, who represented plaintiffs in the case, told Bloomberg News the monitoring program would likely cost the company about $80 million.

"This is a medical monitoring program for as many as 8,500 people," Taylor said. "It doesn't take long until you run into a fairly substantial expense."

DuPont spokesman Dan Turner said Thursday that it's impossible to know how much the monitoring program will cost the company.

Plaintiffs will have six months to sign up for the monitoring program after the circuit court in Harrison County approves the settlement.

"We can't really comment on what the cost will be," Turner said of the program, which the company will fund on a "pay-as-you-go" basis.

Plaintiffs' attorneys told Bloomberg News that they were estimating the cost of the program by a similar program that emerged from an earlier case in front of West Virginia Circuit Court Judge Thomas Bedell, who heard the DuPont case.

The West Virginia residents filed the class-action lawsuit in 2004. Plaintiffs contended that the plant, which produced more than 4.4 billion pounds of zinc over 90 years, churned out arsenic, cadmium and lead, contaminating the area's air, soil and water.

The original jury verdict in 2007 called on DuPont
to pay $251.7 million. In 2008, Bedell ordered that the company pay another $129.6 million for a monitoring program.

West Virginia's Supreme Court reduced that verdict and sent the case back to determine whether the plaintiffs had waited too long to log their claims. With the settlement, DuPont would avoid a scheduled March trial.

"DuPont is pleased to reach an agreement that places our focus on the Spelter site and the community and not on lengthy and contentious legal proceedings," Tom Sager, DuPont's general counsel, said in a statement.


2011/1/10 Danisco 

DuPont announces binding offer for Danisco

Danisco A/S has received a binding offer from DuPont. Danisco's Board of Directors recommends this offer, which we believe represents a strong value proposition to our shareholders and is in the best interest of our business and employees.

Highlights

Jørgen Tandrup, Danisco's Chairman of the Board of Directors, comments: "We believe this offer represents attractive value for Danisco shareholders at a time when the share price is at an all-time high, and that it is in the best interest of the business and our employees. There will be substantial opportunities as part of a larger group and DuPont will bring significant advantages to Danisco's strategy and further development. DuPont and Danisco make a powerful combination and will benefit from each others' complementary strengths and skills."

Tom Knutzen, Danisco's CEO, comments: "Danisco has become a leader in food ingredients, bio-based solutions and industrial biotech. We are very proud of these achievements and are pleased that DuPont recognises the value of our businesses and our skilled employees. Danisco will make up an important part of DuPont, which is committed to develop new business and drive further growth. The transaction is about creating value and exploiting future potential. We look forward to working together to ensure the continued success and growth of our business."

Background for the offer
DuPont is a market-driven science company, delivering innovative solutions to meet key global needs in food, safety and sustainability. Like DuPont, Danisco is a technology-driven organisation with exceptional scientific capabilities in
enzymes and food ingredients. Together, the two organisations are expected to benefit from the power of industrial biotechnology over multiple product lines and industries, creating significant growth opportunities in biofuels, biomaterials, and other emerging technologies.

In addition, DuPont currently operates certain health and nutrition activities. In combination with the broad  and deep food ingredients portfolio of Danisco, the new organisation could develop a more comprehensive offering for the food industry, driving growth in each of the individual components. Given the strong research, innovation and applications development capabilities of DuPont and Danisco, the two are well suited to build their existing offerings and drive first-class innovation in a combined effort. Success in achieving this objective will benefit both entities and the people they employ.

If the offer is successful, an integration process will be undertaken utilising the knowledge and guidance of a joint DuPont and Danisco team to devise the optimum operating structure to leverage the complementary capabilities and efficiencies of the combined businesses.

Danisco is a world leader in food ingredients, enzymes and bio-based solutions. Using nature's own materials, science and the knowledge of our people, we design and deliver bio-based ingredients for healthier and safer products

The Danisco Group comprises two business segments: and . Danisco is organised into four divisions - ,, and - and . BioActives is comprised of the Cultures and Sweeteners divisions as well as our Health & Nutrition platform.

 

Food Ingredients Enablers emulsifiers, hydrocolloids, and tailored systems that enable food & beverage manufacturers to make tasty, appealing and healthy products.
BioActives Cultures starter cultures種菌, media培養基, coagulants凝固剤 and enzymes 酵素for cheese, fresh dairy and other food products.
Sweeteners a range of products used for the replacement or reduction of sugars
フラクトフィン(ビート)
  ダニスコ社フィンランド工場
クリスター300(とうもろこし
  
米国提携工場(テートアンドライル社)
Industrial Biotech Genencor Bio Chemicals projects
industrial enzymes for agri processing, cleaning and textiles as well as the biofuels, biodefense, and biosafety industries.

Our key focus areas include BioActives (cultures and natural sweeteners) with a clear health and nutrition profile and Enablers (emulsifiers, pectin, gums and systems) that offer increased functionality to processed foods.

As the world's second-largest developer and manufacturer of industrial enzymes, Danisco holds prominent market positions in all major segments.

Danisco's Genencor division is a top 10 leader in global biotechnology. As a leading force in innovation in the white biotech space, Genencor addresses previously unmet needs within and beyond its current business areas.

ダニスコ社は1924年にデンマークのグリンステッド村に設立されたグリンステッド社を前身とし、現在世界40ヶ国に8,000人の従業員を有する総合食品素材メーカーです。

創業当初より乳化剤、食品用香料、食品用酵素などをはじめ、安定剤や乳化安定剤ブレンドといった分野へも進出いたしました。また、これまで約80年間に世界各地に生産拠点を開設し、生産増強を図るとともに、世界各国への安定供給を可能にしてまいりました。
ダニスコ社では現在ヨーロッパをはじめ、北米、中南米、アジア、豪州に31の生産拠点を持っております。さらに、機能性食品素材メーカー及び香料素材メーカーの買収を通し、事業の拡大、多角化を推進してまいりました。

機能性食品素材の世界的な大手メーカーであるダニスコグループは、砂糖のメーカーとして発祥し、今日でも北欧諸国では大手砂糖メーカー(Dan Sugar社)としても知られています。
ダニスコ社は
1960年代後半に砂糖を原料とした果糖の工業的結晶化に成功し、以来フルーツシュガー(果糖)はフィンランドをはじめ、遺伝性糖尿病患者を抱えるヨーロッパ諸国を中心に広まりました。

ダニスコ社はまた、テートアンドライル社との技術提携により、米国での大量生産にこぎつけ、これを機に今日の清涼飲料水などの幅広い用途での大量使用を可能にしました。以来、結晶果糖のパイオニア、かつマーケットリーダーとして、世界各国の大手飲料、乳業、菓子、医薬メーカー等に高品質の結晶果糖を供給しております。


2011/5/11 DuPont 

DuPont Announces Global Plans to Expand Titanium Dioxide Capabilities
Expansion, Innovation, Productivity Integral Elements of Global Strategy to Help Customers Grow

DuPont today announced a comprehensive titanium dioxide expansion plan which will add about 350,000 metric tonnes of global capacity and strengthen the company's capability to meet the increasing demand from its customers. The expansion includes new production facilities at the company's Altamira (Mexico) site as well as additional investments to improve the productivity at its other titanium dioxide sites around the world.

The new line at the Altamira site, at an investment of over $500 million (USD), is scheduled for completion by year-end 2014 and will provide approximately 200,000 metric tonnes of new capacity per year. Facility upgrades under way at the company's five titanium dioxide manufacturing sites will continue over the next three years, yielding an additional 150,000 metric tonnes of capacity.

DuPont is recognized as the global leader in titanium dioxide, a white pigment widely used in the coatings, paper, plastics and laminates industries. The capacity expansion and continued focus on science-powered innovations will further enable DuPont to deliver high-quality titanium dioxide to meet rising consumer expectations for quality goods.

"This expansion and upgrades of our facilities allow us to rapidly adapt to changes in the marketplace and consistently meet the ever-changing demands of our customer base," said DuPont Titanium Technologies President BC Chong. "Adding capacity at our Altamira site in Mexico as well as improving our existing uptime and production rates at all sites is a vital part of our strategy to help our customers succeed. By increasing capacity, we will ensure a sustainable supply for customers and partners to help secure their success in the marketplace."

In addition to this expansion of existing manufacturing sites, DuPont will continue to identify capacity options including continued commitment to the current Dongying (China) greenfield plan and other opportunities around the world.

山東省ではDuPontがワールドスケールの酸化チタン計画を持っているが、環境問題で難航している。

同社は2005年11月に山東省東営市の経済開発地区で当初能力年産20万トンの酸化チタンを生産することで地方政府と合意書を締結した。総投資額は10億ドル。

2010/7/9 ChemChina、山東省で酸化チタン生産開始

DuPont Titanium Technologies is the world's largest manufacturer of titanium dioxide, serving customers globally in the coatings, paper, plastics and laminates industries. The company operates plants at DeLisle, Miss.; New Johnsonville, Tenn.; Edge Moor, Del.; Altamira, Mexico; and Kuan Yin, Taiwan; all of which use the chloride manufacturing process. The company also operates a mine in Starke, Fla. Technical service centers are located in Paulinia, Brazil; Mexico City, Mexico; Mechelen, Belgium; Dzerzhinskiy, Russia; Kuan Yin, Taiwan; Ichon, Korea; Shanghai, China; Hyderabad, India; and Wilmington, Del., to serve the Latin American, European, Middle Eastern, Asian and North American markets.

DuPont (www.dupont.com) is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 90 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.

ーーー

DuPont Titanium Technologies, Huntsman Pigments, National Titanium Dioxide Co., Ltd., Kronos Worldwide, Inc., Tronox, Inc. are the largest Titanium Dioxide manufacturers (they account for 64% of global production capacity).

KRONOS Worldwide, Inc. and its predecessors have been producing titanium dioxide pigments (TiO2) since 1916.
NL Industries, Inc. was organized as a New Jersey corporation in 1891 and predecessor companies of its majority-owned subsidiary, KRONOS Worldwide, I
nc., have been producing titanium dioxide pigments (TiO2) since 1916.
The company has continued to grow and invest in its worldwide TiO
2 business and currently operates six production plants and one mine at locations in five countries on two continents. Productive capacity now stands at over 532,000 metric tons per annum.

   ーー

Huntsman Pigments Division is an international business employing around 2,000 people at facilities in seven countries with a combined total manufacturing capacity of approximately 560,000 tonnes of TiO2 pigment p/a.

2007/3/5 Lyondell、酸化チタン事業をサウジ社に売却
  
Millennium Inorganic Chemicalsは能力67万トンで、世界第2位の酸化チタンメーカー。
  サウジの
National Titanium Dioxide Companに売却

2009/9/5 Huntsman、再生法適用の酸化チタンメーカーの資産買収 
2009/12/25  Huntsman による酸化チタンメーカーTronox の資産買収 破談に

2011年2月14日、Tronox Chapter 11 から離脱、既存事業を再建した。

 ICIの酸化チタン事業はポリエステル事業と合わせ米デュポン社へ売却する合意が一旦成立したが、酸化チタン事業については紐余曲折を経た後、99年6月末に米ハンツマン・ケミカルヘ売却


ーーーー

The largest titanium suppliers in the world
http://www.titaniumexposed.com/titanium-suppliers.html

 


May 16, 2011 DuPont

DuPont Successfully Completes Tender Offer for Danisco

DuPont, through its wholly owned subsidiary DuPont Denmark Holding ApS, announced yesterday that it has successfully completed its tender offer for all outstanding shares of common stock of Danisco for DKK 700 cash per share.  The tender offer expired on May 13, 2011, at 11 p.m. CEST (5 p.m. EDT).

DuPont estimates that, as of the expiration of the offer on May 13, Danisco shareholders had tendered approximately 92.2% of the outstanding shares to DuPont Denmark Holding ApS.  All shares that were properly tendered have been accepted for purchase.  Payment for those shares will be made in accordance with the terms of the tender offer.

"We are delighted that the tender has been successful and we can move on to the process of integrating Danisco into DuPont," said DuPont Chair & CEO Ellen Kullman.  "Danisco's attractive specialty food ingredients businesses and Genencor's leading industrial enzymes complement DuPont's own Nutrition & Health and Applied BioSciences offerings. This combination will create an industry leader in industrial biosciences and nutrition and health.

"These businesses will work together to drive sustainable growth and market-driven innovation by linking agriculture, nutrition and advanced materials through industrial biosciences," Ellen said.  "In addition, the R&D combination of DuPont, Danisco and Genencor will enable us to further respond to global megatrends and help provide for the food, energy and protection needs of a growing population."

"We are very pleased that a vast majority of Danisco shareholders have accepted DuPont's offer, and the two companies may now begin to move forward together," said Danisco Chairman Jorgen Tandrup.  "DuPont and Danisco share cultures based in exceptional science and research capabilities.  Our combined strengths in biosciences and nutrition and health will deliver innovative new offerings for customers worldwide, while helping to grow these businesses in ways that will benefit employees, shareholders and the communities in which we serve.  We look forward to this next exciting chapter of discovery and success for the joined companies."


DuPont News, July 26, 2011 

DuPont Expands in Solar Energy with Acquisition of Innovalight

DuPont has expanded its solar materials portfolio with the acquisition of Innovalight, founded by Conrad Burke.
Yesterday, DuPont announced that it has acquired Innovalight, Inc., a company specializing in advanced silicon inks and process technologies that increase the efficiency of crystalline silicon solar cells. The acquisition further strengthens DuPont's position as a clear leader in materials for the solar energy market, enabling a broader and more integrated photovoltaic (PV) materials and technology offering from DuPont.

“Innovalight has very exciting technology that improves cell efficiency and DuPont can help expedite its adoption,” said David Miller, president – DuPont Electronics & Communications. “DuPont and Innovalight share a commitment to innovation in materials that have a common purpose – to make solar energy more efficient and more affordable.”

Innovalight, located in Sunnyvale, Calif., has developed innovative proprietary silicon ink products, process technology and a pipeline of anticipated products. Silicon inks used in conjunction with DuPont™ Solamet® photovoltaic metallization pastes boost the amount of electricity produced from sunlight, enabling the production of superior Selective Emitter solar cells. According to industry estimates, Selective Emitter technology could represent 13% of crystalline silicon solar cell production by 2013 and up to 38% by 2020.

“Innovalight brings in-depth knowledge of solar devices, silicon technology and Selective Emitter technology, and DuPont adds expertise in materials science, manufacturing capabilities and global market access,” said Conrad Burke, founder and general manager – Innovalight. “Our offerings are complementary to one another and together, we will broaden and accelerate our ability to meet customer needs and address today’s energy challenges with our continued innovations.”

DuPont exceeded $1 billion in revenue from sales into the PV market in 2010, and has set a goal to reach $2 billion by 2014 based on continued growth supported by new innovations that improve solar module efficiency, lifetime and overall system costs.


2011/9/16 WSJ                      2010/8/7 韓国Kolon、アラミドの独禁法問題でDuPontを訴え

Kolon Industries Shares Fall on U.S. Court Ruling

Kolon Industries Inc. shares fell 10% Friday, following a 15% drop a day earlier as investors continued to worry that a U.S. court ruling may damage the textile maker's ability to build its business in super-tough fabrics.

A jury in a Richmond, Va., federal court on Wednesday ordered Kolon to pay $919.9 million in damages to DuPont Co. after finding that Kolon stole trade secrets and confidential information related to DuPont's high-strength Kevlar fiber. Kevlar is used in products such as bulletproof vests and brake pads.

DuPont alleged that Kolon hired its former employees starting in 2008 and that those people provided information Kolon used to improve high-strength fibers and fabrics.

Kolon started selling such high-strength fibers, called aramids, in 2006. It said at the time that it planned to challenge market leaders DuPont and Teijin Ltd. of Japan. To date, aramids account for only about 2% of Kolon's annual $3 billion in revenue, analysts estimate.

Kolon said it would appeal the jury decision, which it called "the result of a multiyear campaign by DuPont aimed at forcing Kolon out of the aramid fiber market."

Kim Dong-kun, analyst at Hyundai Securities, said the verdict won't likely disrupt Kolon's ability to sell aramid products in markets outside the U.S. He said investors had oversold Kolon shares.

"There's a very limited impact on fundamentals and there's a chance the amount of damages may be adjusted depending on the appeals process," Mr. Kim said.

In the aftermath of the verdict, both companies claimed long histories in aramid development. DuPont said Kolon had eroded 40 years of development it had put into Kevlar. Kolon said it first started working on aramids in 1979.

In March last year, a former DuPont employee in Virginia was sentenced to 18 months in prison for providing information about Kevlar to Kolon.

The South Korean company, meanwhile, has filed an antitrust suit against DuPont, which it accuses of trying to monopolize the market for ultra-strong fibers.

Kevlar is one of DuPont’s best-known products and is made at facilities in the US, Northern Ireland and Japan (東レ・デュポン)by DuPont Protection Technologies, part of DuPont’s safety and protection segment. In 2010, the division had sales of about $3.4bn.

Kolon may still appeal the decision and in a statement the company said the verdict was “the result of a multiyear campaign by DuPont aimed at forcing Kolon out of the aramid fibre market”. Kolon is pursuing an antitrust claim against DuPont that will be heard in 2012.

After the verdict, DuPont asked the judge for additional punitive damages, court costs and an injunction, freezing Kolon’s assets and preventing it from using DuPont’s technology. Those issues will be covered at a hearing in November.


DuPont News, October 7, 2011

DuPont Starts Up $500 Million Kevlar® Facility in South Carolina

DuPont announced Thursday the start-up of its $500 million Cooper River Kevlar® facility near Charleston, S.C. (U.S.), which is expected to result in an initial 25% increase of overall global production capacity for Kevlar® アラミド繊維. Ultimately, a 40% increase is expected after continued technology developments over the next two years.

The plant uses state-of-the-art technology that will allow DuPont to meet increased customer demand for advanced protective materials in emerging industries around the world by expanding its portfolio of science-based innovations and boosting productivity. Commercial supply will begin by the end of the year.

“As the global population grows, there will be even more critical need for protection materials to keep people safe and to protect the environment, structures and critical processes,” said Thomas G. Powell, president, DuPont Protection Technologies. “This significant boost in production capacity and capability demonstrates DuPont’s continuing commitment to support our customers and to find solutions that help protect more people around the world.”

Along with a recent $50 million expansion at DuPont’s Spruance plant in Richmond, Va., Cooper River represents the largest single investment in Kevlar® and the largest capacity increase since the fiber was introduced in 1965. The Cooper River plant expansion created new jobs and was built over a period of three years using a construction workforce of up to 800.

The Cooper River Kevlar® plant will initially produce innovations that support three primary technology platforms: DuPont™ Kevlar® AP, DuPont™ Kevlar® KM2 Plus and DuPont™ Kevlar® XP™ for growing applications in ballistics, other personal protective equipment, aerospace, tires, fiber optic cables, oil and gas, and automotive.


2011/10/13 Bloomberg

DuPont Said to Seek Buyers for Teijin Venture, Powder Paint Unit

DuPont Co., the third-biggest U.S. chemical maker, is seeking buyers for a polyester-film joint venture and a business that makes powder-based paint, said people with knowledge of the matter.

Goldman Sachs Group Inc. is advising DuPont on the sale of DuPont Teijin Films Ltd., owned jointly by Wilmington, Delaware- based DuPont and Osaka, Japan-based Teijin Ltd., said the people, who declined to be identified because the process is private.

帝人はポリエステルフィルム分野では、世界6カ国で米国デュポンと合弁事業を行っている。

両社は2000年1月、折半出資により世界最大のポリエステルフィルムのグローバル合弁会社(Teijin DuPont Films)を設立した。
日本をはじめ、米国、欧州(ルクセンブルグ、英国)、アジア(インドネシア、中国)の6カ国に地域合弁会社が設立されており、工業用、包装用、磁気用の幅広い用途向けに、それぞれの地域のニーズに対応した高機能ポリエステルフィルム製品群を、地域の販売網を通じて販売している。
インドネシアは帝人子会社、中国は
DuPont JVで、それぞれを両社のJVに移した。

 国  社名   出資比率 %  備考
帝人 DuPont その他
日本 帝人デュポンフィルム  50.1  49.9    
米国 DuPont Teijin Films U.S.  49.9  49.9 (*1) 0.2 *1 帝人デュポンフィルム
英国 DuPont Teijin Films U.K.  50.0  50.0    
ルクセンブルグ DuPont Teijin Films Luxembourg  50.0  50.0    
インドネシア P.T. Indonesia Teijin DuPont Films  50.1  49.9   元は帝人100%P.T.Indonesia Teijin Films
中国 DuPont Hongji Films Foshan
(佛山杜邦鴻基薄膜)
中国JV 51 (*2) 49 *2 佛山塑料集団(Foshan Plastics Group)
DuPont
持株をDuPont Teijin Films China に移管
(49.0) (51.0)

設立時にはこのほか、オランダに50/50DuPont Teijin Films Netherlands があった。

Greenhill & Co. is working with DuPont on the powder- coatings sale, the people said.

The assets would likely fetch less than $1 billion each, the people said.

The powder-coatings business is part of DuPont’s performance-coatings operations, a unit that accounted for 12 percent of the company’s $31.5 billion in revenue last year.

Ellen Kullman, who became chief executive officer in January 2009, has been steering DuPont toward faster-growing products such as food enzymes and biofuel with her $7.1 billion purchase of food-ingredient maker Danisco A/S this year.

“DuPont has made very few divestitures since Kullman took over,” Mark Gulley, a New York-based analyst at Ticonderoga Securities who rates the shares “buy,” said in a telephone interview. “This is probably overdue.”

DuPont has completed six separate sales of assets in the past three years, according to data compiled by Bloomberg. One of the deals fetched $40 million, while prices for the others weren’t disclosed.

Solae Venture
DuPont is also considering buying the 28 percent stake it doesn’t already own in its Solae LLC soy-products joint venture with Bunge Ltd. (BG), one person said. DuPont had been seeking a buyer for the venture since July and has now put that process on hold while it decides whether to merge the business with Danisco, the person said.

DuPont, Bunge Said to Seek Sale of Soy-Products Venture

DuPont Co. and Bunge Ltd. (BG) are seeking to sell Solae LLC, their joint venture that makes soy products used in foods such as cereal bars, infant formula and milk, said three people with knowledge of the matter.
Solae management this month began meeting with potential bidders, including private-equity funds and European strategic buyers, said two of the people, who asked not to be identified because the process is private. The sale may fetch about $1.4 billion to $1.75 billion based on Solae’s annual earnings of about $180 million before interest, tax, depreciation and amortization, two people said.

Danisco may have provided DuPont with the infrastructure and expertise it needs to make Solae more profitable, Gulley said. Combining Danisco’s dairy-focused food business with Solae would be “very complementary” and “enable higher growth,” Kullman said in a Jan. 10 conference call discussing DuPont’s bid for Danisco.

DuPont and Bunge formed Solae in 2003 when they merged two businesses. Solae makes more than 1,000 products, including soy proteins used in hot cereals, sports drinks, vegetarian foods and meat products. The venture employs about 2,400 people.

Solae was founded in 1958 as Protein Technologies International, Inc (PTI). At first, it only produced industrial soy protein products. The business evolved to making food products 15 years later. In 1997, DuPont purchased PTI from Ralston Purina and in 2003 DuPont and Bunge announced the formation of Solae.

DuPont had expected to fetch as much as $1.75 billion for Solae, people familiar with the matter said in August. A company executive said in September that a sale may happen by the end of the year, or the two partners may instead continue with the venture.

Solae’s customers include soy-milk maker 8th Continent, which was created as a joint venture between DuPont and General Mills Inc. in 2000 and sold to Stremicks Heritage Foods in 2008.


Liqui-Box
Earlier this year, DuPont also hired Bank of America Corp. to help seek buyers for a unit known as Liqui-Box, which makes plastic packaging for food items such as ketchup and mustard, said people with knowledge of that sale effort. DuPont bought Liqui-Box for about $333 million in 2002.

Spokesmen from DuPont, Goldman Sachs, Greenhill and Bank of America declined to comment.


February 15, 2012 DuPont 

DuPont and Yingli Green Energy Enter $100 Million Strategic Agreement

DuPont and Yingli Energy Company Limited
英利能源 have signed a $100 million strategic agreement for photovoltaic materials to speed adoption of solar energy, addressing one of the world’s biggest challenges – reducing dependence on fossil fuels.

“At Yingli, we have a long-standing commitment to global social responsibility to make solar energy an affordable option for everyone,” said Liansheng Miao, chairman and chief executive officer, Yingli. “The agreement we have signed with DuPont assures our supply of critical, high-quality materials and our continued collaboration on further technological advances to optimize the performance of our solar modules, which illustrates our mission to be a cost leader and provide the best product to customers at the same time.”

The agreement was signed in Washington, D.C., yesterday in a ceremony organized by the U.S. Department of Commerce and the Ministry of Commerce People's Republic of China, and hosted by the U.S. Chamber of Commerce. Under terms of the agreement, Yingli will purchase photovoltaic materials, including DuPont™ Solamet® photovoltaic metallization pastes
ソーラーセル用ペースト(太陽光発電セルを作製するための包括的な厚膜材料)used in solar modules and protective backsheet for solar modules made with DuPont™ Tedlar® polyvinyl fluoride filmポリフッ化ビニル樹脂フィルム.

“This agreement expands a current commercial relationship between DuPont and Yingli into a more strategic relationship with long-term benefit to both companies, and to end users of solar energy,” said Dave Miller, president, DuPont Electronics & Communications. “Materials are key to solar module performance, and DuPont continues to advance the science behind them. They help increase efficiency, extend the lifetime of modules, and, ultimately, help reduce overall system costs to make solar increasingly more competitive with other forms of energy generation.”

According to industry estimates, 20% average annual growth is expected in solar installations globally over the next five years. DuPont achieved about $1.4 billion in sales to the photovoltaic market in 2011, and has set a goal to reach $2 billion in sales by 2014, based on continued, strong demand for its products.

Yingli China is a wholly owned subsidiary of Yingli Green Energy Holding Company Limited英利緑色能源, a leading solar energy company and one of the world's largest integrated photovoltaic manufacturers.

2010年の世界市場での太陽電池セル製造メーカー上位各社のシェアは次の通りである。
上位10企業のシェアの合計は44%。(ソース:資源総合システム)
  中国
尚コ電力Suntech 6.6%
  中国
晶澳太陽能 Ja Solar 6.1%
  米国 First Solar 5.9%
  中国 英利緑色能源(Yingli) 4.7%
  中国
天合光能Trina Solar 4.7%
  独  Q-Cells 3.9%
  台湾
c晶能源科技Gintech 3.3%
  日本 シャープ 3.1%
  台湾
茂迪 Motech 3.0%
  日本 京セラ 2.7%


March 3, 2012 Bloomberg News 

Guilty plea in theft of DuPont secrets for China

A former DuPont Corp. scientist has pleaded guilty to conspiring to commit economic espionage for a company controlled by the Chinese government and agreed to testify against others charged with stealing secrets of a manufacturing process sought by China.

Tze Chao, 77, a DuPont employee from 1966 to 2002, admitted Thursday in a San Francisco federal court that he had provided confidential information about DuPont's titanium dioxide process to the Chinese-controlled Pangang Group Co.
攀鋼集団

Titanium dioxide is a bright white pigment used in paints and other products such as powders, paper and toothpaste. DuPont's chlorine-based process was eagerly sought by China, which used a less efficient and more environmentally harmful production method, according to court documents.

A federal grand jury in San Francisco issued an indictment Feb. 7, accusing Pangang of conspiring with Chao, other individuals and an Oakland consulting company, USA Performance Technology, owned by Walter and Christina Liew, to obtain the trade secrets. Walter Liew received $30 million in contracts from Chinese companies for illegally obtained information, the indictment said.

In his plea agreement, Chao, of Newark, Del., said he took confidential DuPont documents with him when he left the company and started a consulting business. He said he provided the information to Pangang in 2008 and 2009 for a titanium dioxide factory that was being designed by USA Performance Technology, and recruited other former DuPont employees to help him.

Pangang employees "overtly appealed to my Chinese ethnicity and asked me to work for the good" of the People's Republic of China, Chao said. He said he burned documents to keep the FBI from finding them when agents searched his home in October 2011.

No sentencing date has been set. Prosecutors agreed to recommend leniency if Chao cooperates in the investigation.

2012年2月8日、サンフランシスコの連邦陪審員団が、中国大手鉄鋼メーカー、攀鋼集団とその子会社及び企業1社を、アメリカ商業機密窃取の疑いがあるとして起訴した。

 今回起訴されたのは、攀鋼集団とその子会社である、攀鋼バナジウム、攀鋼集団バナジウム業有限公司、攀鋼集団国際経済貿易有限公司の3社、及びアメリカのUSA Performance Technology Inc. となっている。

 5社は、アメリカ科学企業のデュポンから、二酸化チタンに関する商業機密を窃取した疑いがもたれている。

 また中国系アメリカ人夫婦2人、デュポン前職員2人、攀鋼子会社職員1人が機密窃取に関わった疑いで起訴されている。報道によると、中国系アメリカ人夫婦がデュポン前職員から二酸化チタンに関する商業機密を手に入れ、攀鋼に売却した可能性がある。

 

 

    参考 2009/9/12 DuPont、産業スパイを摘発

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Mar 9, 2012 Bloomberg

Ex-DuPont Employee Pleads Not Guilty in Trade Secrets Case

Ex-DuPont Co. worker Robert J. Maegerle pleaded not guilty to conspiracy to steal trade secrets from his former employer in an economic espionage case alleging he and others gave the information to China’s Pangang Group Co.

Maegerle, 76, a process engineer for DuPont from 1956 to 1991, had detailed knowledge of the company’s titanium dioxide technology and expertise in building production lines for the substance, a white pigment widely used in paints, plastics and coatings, according to a revised indictment filed Feb. 7.

At the center of the case is Walter Liew, the owner of an now-defunct Oakland, California-based company who had contracts with state-owned Pangang. Prosecutors said in court papers that documents they obtained from Liew’s safety deposit box show Liew claimed he was directed by a Chinese government official in 1991 to obtain technology needed for China to build pigment factories.

As far back as 1998, Maegerle gave Liew secret information from Wilmington, Delaware-based DuPont, including trade secrets about the process and equipment needed to design a plant to make titanium dioxide, known as Ti02, prosecutors said in the indictment. DuPont is the world’s largest maker of Ti02 and won’t sell or license its technology to other companies.

In 2005, Maegerle e-mailed Liew photographs from DuPont plants containing secret information about the company’s inventions for a cost-efficient process to develop the substance using chloride, according to the indictment.

New Plant
Maegerle, Liew and a former DuPont employee, Tze Chao, provided information to Pangang in 2008 for the design and construction of a new plant in China to make 100,000 metric tons of titanium dioxide a year, prosecutors said. After DuPont filed a trade-secret lawsuit against Liew, Maegerle gave the Californian information for responding to the case which falsely stated that nothing from DuPont was used by Liew, according to prosecutors.

In addition to the conspiracy count, Maegerle is charged with attempted theft of trade secrets, aiding and abetting and conspiring to tamper with witnesses and evidence. The most serious charge, tampering, carries a maximum penalty of 20 years in prison and at least a $250,000 fine.

Jerome Froelich, Maegerle’s attorney, appeared with his client and entered his not guilty plea.

Liew, his wife, Christina, Pangang and three subsidiaries have also been charged. Liew’s arraignment is scheduled for March 21. He has been in prison in Oakland since his arrest in July.

Liew Denies Allegations
Liew has denied stealing trade secrets and allegations about his connections to Chinese government officials aren’t accurate, his lawyer, Tom Nolan, said in court filings.

Christina Liew, charged with conspiracy, possession of trade secrets and witness tampering, pleaded not guilty today. She has been free on $100,000 bond since July, when she and Walter Liew were first charged.

Pangang plans to seek dismissal of the charges against it on grounds that the U.S. government can’t serve the company or its units in China, Robert Feldman, an attorney for the company, said in a court filing. A hearing on that matter was scheduled for June 7.

The other U.S. defendant in the case, Chao, 77, who was with DuPont from 1996 to 2002, pleaded guilty March 1 to one count of conspiracy to commit economic espionage and is cooperating with the government.

The case is U.S. v. Liew, 3:11-cr-00573, U.S. District Court, Northern District of California (San Francisco).


Aug. 31, 2012 Reuters  

DuPont wins 20-year ban on Kolon's Kevlar rival

* Kolon seeks to halt permanent injunction during appeal
* Judge: $919.9 mln jury award inadequate remedy for DuPont
* Kevlar, rival fibers used in body armor

DuPont Co , the inventor of Kevlar, used in bulletproof vests and other body armor, won a federal court order barring South Korea's Kolon Industries Inc from making a competing version of the synthetic fiber for 20 years.

Kolon on Friday asked U.S. District Judge Robert Payne in Richmond, Virginia, to put his permanent injunction on hold while it appeals, saying a ban would cause the "uncompensated death" of an entire business and result in irreparable harm. Four hours later, DuPont filed papers opposing that request.

Shares of Kolon closed down 2.4 percent at 64,200 won ($56.59) in Seoul on Friday, the first trading day after the injunction.

Last Sept. 14, a federal jury in Richmond, Virginia, ordered Kolon to pay DuPont $919.9 million of damages for stealing 149 trade secrets relating to Kevlar, a high-strength para-aramid fiber used in body armor, military helmets, tires and fiber-optic cables.

DuPont sued Kolon in February 2009, accusing it of misusing proprietary information obtained from Michael Mitchell, a 24-year DuPont veteran who left the company in 2006 to start his own fiber business and later began working with Kolon.

Mitchell in 2010 pleaded guilty to theft of trade secrets and served most of an 18-month prison term, court and prison records show.

In issuing the 20-year ban on activity related to para-aramid fibers, Payne called Kolon's use of stolen trade secrets "integral and essential" to its production of Heracron, a rival to Kevlar and Twaron, made by Japan's Teijin Ltd .

He also said the $919.9 million judgment alone was not an adequate remedy, explaining that Kolon would still be free to use the stolen trade secrets at DuPont's expense, and that DuPont might have to go to South Korea to enforce the judgment. DuPont began selling Kevlar in 1965.

"That Kolon found it necessary as a matter of corporate policy to misappropriate DuPont's trade secrets to augment the knowledge and efforts of its own research staff illustrates that, left to its own devices, Kolon simply would not have developed the trade secrets it misappropriated," Payne wrote.

The injunction, he added, could significantly reduce harm to DuPont without any harm to Kolon, "except that which it brought upon itself and which, by right, it should suffer."

In its request for a stay, Kolon said it is likely to win an appeal, citing alleged errors at trial, weaknesses in DuPont's case, and a lack of evidence that Kolon's activities caused DuPont to lose sales or profit.

DuPont countered that Kolon faces no irreparable harm, as Heracron accounts for only 1.7 percent of sales. It also said Kolon has not posted bond to secure the $919.9 million award, and a court should not review its stay request until it does.

According to court papers, DuPont sells more than 70 percent of para-aramid fibers purchased in the United States.

The company's safety and protection operations, which include Kevlar and Nomex, a flame-resistant fiber used by firefighters, had $1.93 billion of sales from January to June, 9 percent of DuPont's $22.24 billion total sales.

The Wilmington, Delaware-based company also makes products used in the chemical, agriculture and biotechnology industries.

DuPont shares were up 0.3 percent at $49.72 on Friday afternoon on the New York Stock Exchange.

The case is DuPont v. Kolon Industries Inc et al, U.S. District Court, Eastern District of Virginia, No. 09-00058.

------

2012/8/31 DuPont

U.S. Federal Court Issues Order for Kolon to Cease Manufacture of Heracron® Aramid Fiber for 20 Years

DuPont issued the following statement after a ruling by the U.S. Federal Court in Richmond, Va., ordering Kolon Industries to stop producing and selling their Heracron® aramid fiber:

“The injunction, coming on the heels of DuPont’s $920 million damages award from last September, reaffirms what was already clear: that Kolon Industries willfully and maliciously misappropriated DuPont’s proprietary Kevlar® technology,” said Thomas L. Sager, DuPont senior vice president and general counsel. “The trial court ordered Kolon to not produce, market or sell any para-aramid fiber products, worldwide, for 20 years; it also permanently enjoined Kolon from using any of the trade secrets it stole from DuPont. Additionally, Kolon has until Oct. 1 to remove and return DuPont’s trade secrets or face contempt proceedings.

2011/9/21  DuPont、アラミド繊維の技術盗用裁判で韓国のKolonに勝訴 

“In so ruling, the court found Kolon’s conduct to be ‘brazen,’ adding that ‘Kolon’s conduct shows a complete disregard for DuPont’s trade secret rights and a disregard for the law that protects such secrets.’ At Kolon, the judge held, misappropriation of DuPont’s trade secrets was ‘a matter of corporate policy.’ A full production injunction is warranted because ‘the Court has no confidence that Kolon could be relied upon to police its own activities.’”

Thomas G. Powell, president of DuPont Protection Technologies, added, "We are pleased that the judge has enforced the protection of our Kevlar® trade secrets. DuPont has devoted more than 40 years and considerable expense to research and refine Kevlar® to make it the world’s most trusted aramid fiber. It is important not only to us but also to our customers that we are able to continue to innovate and invest in our business, our brands and our latest technologies, including our new facility to make Kevlar® near Charleston, S.C. The judge’s order sends a clear message to Kolon and others that they cannot benefit from the theft of our trade secrets."

Background:
DuPont has been engaged in litigation with Kolon for over three years. In January 2012, the trial judge in DuPont’s lawsuit against Kolon for theft of trade secrets denied Kolon’s motions for a new trial and for a reversal or reduction of the jury’s $920 million award.

In addition to today’s injunction ruling, DuPont expects to recover attorneys’ fees spent pursuing Kolon’s theft of the trade secrets DuPont spent decades developing. DuPont is pursuing proceedings to enforce and collect on the judgment.

In 2007, DuPont became concerned about Kolon’s activities and notified the FBI, the Department of Justice and the Department of Commerce. DuPont filed a civil lawsuit against Kolon in 2009 and the jury in the case awarded DuPont $919 million in September 2011. In November, the trial judge ruled that Kolon's conduct warranted punitive damages at the maximum amount allowable by law. Coupled with the September jury verdict, overall damages against Kolon now total over $920 million, accruing post-judgment interest.

Groundbreaking research by DuPont scientists in the field of liquid crystalline polymer solutions in 1965 formed the basis for the commercial preparation of Kevlar® aramid fiber, best known for its military and law enforcement applications. In addition, Kevlar® is used for many commercial and industrial applications, ranging from tires and fiber optic cables to sports equipment and spacesuits.

DuPont has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit www.dupont.com.


2012/8/30  DuPont

The Carlyle Group to Buy DuPont Performance Coatings Business for $4.9 Billion

Global alternative asset manager The Carlyle Group and DuPont today announced that they have signed a definitive agreement whereby Carlyle will purchase DuPont Performance Coatings (DPC) for $4.9 billion in cash. The transaction is expected to close in the first quarter 2013, subject to customary closing conditions and regulatory approvals.

DPC is a global supplier of vehicle and industrial coating systems with 2012 expected sales of more than $4 billion and more than 11,000 employees. The investment will be funded with equity from Carlyle Partners V and Carlyle Europe Partners III.

“DuPont Performance Coatings is a leader in the automotive and industrial coatings sectors with world-class products and customer service. The business continues to grow and deliver solid results. After a careful review, however, we have determined that DPC’s full growth potential would be best realized outside DuPont and through the sale to Carlyle,” said DuPont Chair and CEO Ellen Kullman. “This transaction is consistent with our vision to be the world’s most dynamic science company and long-term strategy of driving competitive advantages in agriculture and nutrition, advanced materials and biotechnology, which represent high-growth, high-margin opportunities.”

Greg Ledford, Carlyle Managing Director and Head of the Industrial and Transportation team, said, “DuPont Performance Coatings is a successful business with attractive market positions, next-generation technology and established brands. Through targeted investments we will support DPC’s product development and growth objectives as it transitions to a stand-alone company. We look forward to working with management to fully realize DPC’s great potential.”

Gregor Böhm, Managing Director and Co-head of Carlyle’s Europe Buyout team, said, “DuPont Performance Coatings is a technology innovator and we look forward to building on its strong market presence to accelerate growth in emerging markets, particularly in China and Brazil.”

Kullman stressed that DuPont remains committed to serving the automotive industry. Following the closing of this transaction, DuPont will generate more than $3 billion in sales of advanced materials to the auto industry. “We will continue to work closely with automotive customers to apply our science-powered innovations related to light weighting of vehicles, revolutionary and environmentally friendly refrigerants, biobased seat fabrics and headliners, and next-generation biofuels,” Kullman said.

Beginning with the third quarter 2012, DuPont will classify and report results of DPC as discontinued operations on a retroactive basis. DuPont expects 2012 full-year earnings from discontinued operations to be in the range of $.41 to $.47 per share. Full-year 2012 guidance was last updated on and as of July 24, 2012, and is not being updated today. The company will begin providing full-year 2012 guidance from continuing operations when it issues its third quarter earnings announcement on Oct. 23.

DuPont plans to eliminate general corporate overhead costs that were previously allocated to DPC but are not part of the transaction. Additional details will be provided during DuPont’s third quarter earnings announcement. As part of the transaction, Carlyle will assume $250 million of DuPont’s unfunded pension liabilities. DuPont will use the net after-tax proceeds of this sale in a manner consistent with its cash deployment principles and goal to maximize shareholder value creation.

Carlyle’s industrial and automotive investments include Allison Transmission, Hertz and PQ Corporation, as well as recent commitments to invest in Hamilton Sundstrand Industrial, Sunoco’s Philadelphia refinery and regional rail freight operator Genesee & Wyoming.

About DuPont Performance Coatings
Founded in 1922 and headquartered in Wilmington, Del., DuPont Performance Coatings is the leading global manufacturer, marketer and distributor of advanced coating systems primarily for the transportation industry. The company comprises four segments: refinish, OEM, industrial liquid and powder. With a consistently premium product, the firm is considered to be one of the highest quality paint providers in the auto refinish, OEM and liquid coatings market. The company operates manufacturing sites on six continents, serving customers in 120 countries directly and through 4,000 distributors.


May 8, 2013  DuPont

DuPont and OCP Announce a Joint Venture on Safety and Sustainability
    Two Companies will Collaborate to Offer Operational Consulting and Training Services

DuPont and OCP (Office Chrifien des Phosphates:
モロッコ鉱石公社) today announced the creation of a joint venture to provide consulting and training services to improve the safety, operational and environmental performance of companies in Morocco and other African countries. The joint venture will be named DuPont OCP Operations Consulting, and DuPont and OCP will each hold 50 percent of its share capital.

This joint venture will combine the internationally renowned expertise of DuPont Sustainable Solutions (DSS) and OCP’s world-class industrial experience and local market knowledge to provide consulting and training services in the areas of employee and contractor safety and training, process safety management, asset productivity, energy efficiency, integrated operations, sustainability strategy and environmental management. DuPont OCP Operations Consulting will help OCP and industrial companies in Morocco and the region achieve world-class safety and sustainability performance.

“This new partnership underscores the importance of collaboration,” said James R. Weigand, president of DuPont Sustainable Solutions. “In line with our market-driven science strategy, this knowledge transfer will allow us to combine the strengths of two leading companies to expand the range of innovative safety, productivity and sustainability solutions available to the market. It will enable DSS to better meet local needs by providing world-class consulting and training services to industries in Morocco and key developing regional markets. OCP’s strong regional presence and long-term growth strategy makes them an ideal partner for us to achieve world-class safety performance and add value to the DuPont OCP Operations Consulting offerings.”

Amar Drissi, OCP’s executive vice president Operations said, “This joint venture will allow OCP to significantly enhance its safety and sustainability performance. Moreover, OCP’s ambition encompasses a broader aim to advance local industries and develop a more skilled workforce in Morocco. OCP has a strategic interest in ensuring that its industrial ecosystem in Morocco becomes safer, more environmentally sustainable and more productive which will improve the competitiveness of the country as a whole, allowing for more foreign investment and overall improve economic growth. OCP is committed to elevating safety standards in the region to world-class requirements. Our collaboration with DuPont is a great way to further support this strategic commitment and dramatically improve the performance of our operations and supply chain.”

OCP Group is a global leader in the phosphate industry and its derivative products and is a key player in the international market since 1920. Present across the value chain, OCP extracts, markets and sells phosphate and its derivative products. The Group has generated revenues of 59.3 billion of MAD (Moroccan Dirham) in 2012. It employs a direct workforce of over 23,000 employees and substantially contributes with its mining and industrial facilities and through its different programs and projects, to the development of several regions of the Kingdom of Morocco. For further information, visit our website: www.ocpgroup.ma.

DuPont Sustainable Solutions is one of 12 DuPont businesses. Bringing customers the benefits of an integrated global consulting services and process technology enterprise, it applies DuPont’s real-world experience, history of innovation, problem-solving success, and strong brands to help organizations transform their workplaces and work cultures to become safer, more efficient and more environmentally sustainable. Additional information is available at: www.sustainablesolutions.dupont.com.

DuPont has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders, we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit: www.dupont.com
 


2013年07月25日 化学工業日報   

デュポン 高機能化学事業を売却へ

デュポンは、酸化チタンやフッ素樹脂などで構成する高機能化学事業の分社化や売却などの検討を始めた。同事業のすべてか一部を対象にしている。高成長を持続し、より景気動向に左右されにくい企業体質を作り上げることが狙い。同社は今年2月、自動車用塗料などを手掛ける高機能塗料事業の売却完了を発表している。高機能化学事業の戦略的見直しを通じて農業関連、ニュートリション、工業用バイオ、エンジニアリングプラスチックをはじめとする先端材料事業への転換をさらに進めることになる。

参考 2012/9/5  DuPont、Performance Coatings事業をCarlyle Group に売却

ーーー

July 23, 2013 DuPont

DuPont Realigns Leadership Team to Accelerate Integrated Science Execution, Explores Strategic Alternatives for Performance Chemicals

Taking the next steps in its transformation to a higher growth company, DuPont today is realigning its leadership team to accelerate its integrated science execution across the company and is exploring strategic alternatives for its Performance Chemicals segment.  These steps are part of DuPont’s transformation to a higher growth, less cyclical company that integrates its unique scientific capabilities in biology, chemistry and materials to develop differentiated, high-value solutions in the attractive agriculture and nutrition, industrial biosciences and advanced materials markets worldwide.

To accelerate the execution of its applied integrated science strategy across its businesses, James C. Collins, Jr., who currently leads the Industrial Biosciences business, will become senior vice president, reporting to DuPont Chair and CEO Ellen Kullman, and will oversee the Industrial Biosciences, Performance Polymers and Packaging & Industrial Polymers businesses.  Collins will accelerate the integration of DuPont’s rapidly growing and leading industrial biotechnology into its wide-ranging advanced materials businesses, as demand for renewably sourced materials expands steadily.  A 29-year veteran of DuPont, Collins led the Danisco acquisition integration team before assuming his current role.

In addition, Matthew L. Trerotola will rejoin DuPont and report to Kullman as senior vice president with responsibility for the Protection Technologies, Building Innovations, and Sustainable Solutions businesses.  He will be accountable for driving improved execution and accelerate growth in these businesses.  A previous DuPont corporate officer, Trerotola is familiar with DuPont’s strong brands including DuPont™ Kevlar®, Tyvek® and Nomex®.  Most recently, he was vice president and group executive of life sciences for the Danaher Corporation.

DuPont’s consideration of strategic alternatives for its Performance Chemical segment may include a full or partial separation of each of these businesses from the company through a spin-off, sale or other transaction.  
The segment includes Titanium Technologies and Chemicals & Fluoroproducts businesses which generated total sales of $7.2 billion in 2012.  DuPont may pursue a different strategic alternative for each business.

 

Performance Chemicals – Sales of $1.6 billion were down 15 percent, with 8 percent lower volume and 7 percent lower prices.  Lower volume resulted primarily from weak demand for fluoropolymers in U.S. and Europe. 

DuPont’s decision to explore strategic alternatives for its Performance Chemicals businesses reflects its ongoing portfolio review to determine how best integrated science can contribute to growth and the optimal mix of businesses for maximizing shareholder value.  This follows DuPont’s sale of its Performance Coatings business earlier this year and the acquisition of Danisco in 2011.

“As we discussed at our Investors Day in May, we have been carefully weighing the strong cash generation of our Performance Chemicals businesses against their cyclicality and lower growth profile, as well as where the power of DuPont’s integrated science can be differentiated,” said Kullman.  “We are evaluating options for our Performance Chemicals businesses as part of our ongoing plan to deliver higher growth and greater value creation for our shareholders.”

-----

Reuters

DuPont seeks exit from paints business to focus on farms

DuPont plans to exit its once-lucrative paint pigments business (
Titanium dioxide) to focus on a thriving agricultural unit better equipped to shield the biggest U.S. chemicals maker from market volatility.

DuPont's shares rose as much as 6 percent to their highest in more than 13 years after the company said it would consider selling or spinning off its performance chemicals unit, which contributed a fifth of its sales last year.

Chief Executive Ellen Kullman said DuPont's earnings would be "significantly better" in the second half of 2013 than in the same period last year due to agricultural growth in the Americas - reinforcing the planned exit from performance chemicals.

DuPont is joining an industry-wide shift among chemical makers, including rival Dow Chemical, into production of seeds and pesticides, which have proven to be less exposed to market ebbs and flows than the popular pigment titanium dioxide.

Agricultural demand is driven by North American farmers in the first half of the year and South American farmers in the second. The expanding global population, particularly in Asia, is also driving demand for fertilizers, seeds and pesticides.

But demand for titanium dioxide, a pigment that gives shine to car paints, sunscreen and toothpaste, has long been susceptible to swings in the global economy.

Global titanium dioxide prices went into tailspin last year after the world's biggest producers, including DuPont, Saudi Arabia's Cristal Global, Tronox Ltd and Huntsman Corp, restarted plants idled during the recession.

As prices declined, revenue within DuPont's performance chemicals unit fell 8 percent in 2012. Kullman said the company had been weighing the cash generation of the businesses against their cyclical nature and "lower growth profile".

"There is nothing science can do to arrest the volatility or the cyclicality of these businesses," she said on a conference call, adding DuPont would focus on "science-driven" businesses such as agriculture, nutrition and industrial biosciences.

Analysts said the hand of a new investor might also be behind the move. Nelson Peltz, a force behind some of the global food industry's biggest deals, had amassed a "big stake" in DuPont through his Trian Fund Management, CNBC reported last week.

Some investors have blamed the performance chemicals business for weighing on DuPont's shares, which trade at a discount to those of another rival in the agriculture business, Monsanto Co .

"I don't think we would have seen this move about the performance chemicals business in this quarterly release without revelations about activist investors getting involved," said Stephen Hoedt, senior equity research analyst with Key Private Bank.

Kullman, in an interview with CNBC on Tuesday, said she had not spoken to Peltz. She said she had heard "rumors" about his acquisition of a stake.

SPIN OFF OR SALE?

DuPont's performance chemicals unit, of which paints pigments are a big part, generated total sales of $7.2 billion in 2012.

In a note to clients, BGC Financial analyst Mark Gulley estimated that the unit could be worth about $8.9 billion pre-tax.

But DuPont might find it easier to spin off the business or seal private-equity deals than find a strategic buyer for the performance chemical business, said John Roberts, who leads U.S. chemical coverage at UBS Investment Research.

Roberts cited smaller rival Rockwood Holding Inc's <ROC.N> difficulties in finding a buyer for its titanium dioxide business.

DuPont itself declined to comment.

"It's way too soon to go down a path of who might be a potential buyer," Chief Financial Officer Nick Fanandakis said in an interview with Reuters.

Huntsman, which is also exploring options for its titanium dioxide business, could be looking to buy Rockwood's pigments unit, Reuters reported this month.

Wilmington, Delaware-based DuPont, a 211-year-old company, sold its car paint unit for $5 billion last year and bought nutritional supplements maker Danisco for $6 billion in 2011.

Sales of pesticides and other agricultural products helped DuPont's quarterly profit scrape past analysts' estimates, as paint pigments once again lagged. Net income fell 13 percent to $1.03 billion in the second quarter.

DuPont's shares shed earlier gains to trade up just 0.5 percent at $57.40 in midday trading on the New York Stock Exchange. They have risen about 20 percent in the last six months.


 Feb. 28, 2014

DuPont Opens Office in Myanmar, One of the Fastest Growing Economies in ASEAN

DuPont, the world’s leading science company, announces the opening of its business operations in Myanmar, with commitment to helping address the country’s challenges in feeding the growing population, reducing dependence on fossil fuels and protecting people and the environment.

Myanmar becomes the 8th ASEAN country and the 19th Asia territory where DuPont has a presence.  DuPont Myanmar focuses on strengthening its local presence through collaboration with local partners to offer science-powered solutions in agriculture, food, energy and construction as well as supporting community initiatives and local people development.

 “Myanmar has one of the fastest growing economies and a promising potential to advance ASEAN’s growth.  Today’s office opening reflects our long-term commitment in helping meet the country’s needs in agriculture and food, energy and environmental protection,” said DuPont ASEAN Group Managing Director Hsing Ho.

Myanmar’s population today stands at 60 million people.  It intends to become one of the world’s leading rice exporters again, making rice crop and agriculture a key growth sector for the country.  Myanmar also faces the pressing challenge on developing sustainable and clean energy sources.  There are significant energy productions and efficiency investments that Myanmar will need to implement over the next decade.


Aug. 13, 2014  Reuters 

Carlyle Taps Banks For Former DuPont Unit IPO: Sources

Buyout firm Carlyle Group LP has hired banks for an initial public offering of Axalta Coating Systems LLC, according to people familiar with the matter, just a year and a half after it acquired the company from Dupont for $4.9 billion.

2012/9/5  DuPont、Performance Coatings事業をCarlyle Group に売却
 

Citigroup Inc and Goldman Sachs Group Inc have been given leading roles in the potential IPO of the performance coatings company, the people said on Wednesday. The IPO could raise as much as $1 billion, one of the people added.

The sources asked not to be identified because the discussions are private. Bloomberg News reported on Axalta's IPO preparations earlier on Wednesday. Carlyle, Citigroup and Goldman Sachs declined to comment, while an Axalta spokeswoman did not immediately respond to a request for comment.

Based in Philadelphia, Axalta makes liquid and powder coatings for the automotive and general transportation industries. It operates 35 manufacturing centers and does business in more than 130 countries, according to its website.

Private equity firms typically hold on to companies between three and five years before they sell them. Carlyle's plans to take Axalta public in such a short time frame reflect the strength of the equity markets as well the private equity firm's confidence in Axalta's prospects as a public company.

These plans, however, may not necessarily lead to a quick exit for Carlyle. For example, it took the Washington, D.C.-based firm more than six years for it to sell its shares in Hertz Global Holdings Inc .

Carlyle took Hertz public in November 2006, just seven months after it acquired the company together with Clayton Dubilier & Rice LLC and Merrill Lynch Private Equity in a $15 billion deal.

Other private equity firms have also rushed to take some of their biggest portfolio companies public. Apollo Global Management LLC floated oil and gas producer EP Energy Corp in the stock market in January, just eight months after acquiring it from Kinder Morgan Inc for $7.15 billion.
 


September 8, 2014   The Columbus Dispatch 

Thousands of C8 suits against DuPont flood federal court

A decade-long legal battle accusing DuPont of being responsible for life-threatening medical problems among Ohio River residents is flooding federal court in Columbus.

Nearly 2,500 personal-injury lawsuits have been filed against DuPont as part of multidistrict litigation assigned to U.S. District Judge Edmund A. Sargus Jr. and Magistrate Judge Elizabeth A. Preston Deavers.

More than 600 already are in federal court, and the rest will be transferred from Ohio and West Virginia state courts.

The lawsuits — some on behalf of people who died — say that C8 (
Perfluorooctanoic acid), a chemical used to make Teflon at a DuPont plant in Washington, W.Va., made area residents sick after it was dumped into the water for decades as waste. The plant is near Parkersburg, W.Va., and the C8 was in drinking water on both sides of the river.

A judicial panel decided last year that the cases, which involve both Ohio and West Virginia residents, should be heard in one court. The panel selected Columbus, in part because the federal Southern District of West Virginia was overloaded with other multidistrict lawsuits.

The lawsuits stem from a 2001 class-action case in West Virginia. Residents living near the DuPont plant sued the company, claiming that it had known of the dangers of C8 for years. As part of a 2005 settlement, DuPont agreed to filter C8 from the water and provide millions of dollars for a science panel to study whether the chemical had harmed residents.

That study of 70,000 residents found probable links between C8 exposure and kidney cancer, testicular精巣cancer, thyroid 甲状腺disease, high cholesterol, pregnancy-induced hypertension
妊娠高血圧症 and ulcerative colitis潰瘍性大腸炎, a type of inflammatory bowel disease. Residents with those health conditions, or surviving family members, are allowed under the settlement to file personal-injury cases against DuPont.

DuPont officials issued a statement regarding the upcoming litigation: “Lawsuits such as these ignore family history, lifestyle choices and other causes of health issues and disease in specific individuals.”

The statement also said the company will “vigorously defend against any and all such lawsuits not based upon valid science.”

Harry Deitzler, a lawyer who has filed more than 900 of the lawsuits, said he expects that as many as 3,000 total lawsuits will be filed by the January deadline. He also was involved with the 2001 lawsuit.

Unlike a class-action lawsuit in which multiple plaintiffs sue one or more defendants, each plaintiff in multidistrict litigation sues separately and must prove his or her case.

The cases, however, have common elements, so fact-gathering is done jointly, and legal decisions affect all the cases. A steering committee of plaintiff lawyers guides the plaintiffs’ cases, and depositions taken for one case can be used in other cases.

Sargus said several representative cases are tried first in multidistrict litigation. After that, each case is settled, withdrawn or goes to trial. The judge said he could not discuss details of the DuPont case.

The lawsuits ask for compensatory and punitive damages and payment of plaintiffs’ costs for the injuries caused by what is described as DuPont’s “reckless and negligent” contamination of drinking-water supplies.

The first is scheduled for trial in September 2015. That’s the year that DuPont has said it will phase out the use of C8.

One suit, filed by the father of Travis M. Lawless of Vincent, Ohio, says that Lawless died of testicular cancer at age 19 as a result of C8 in the drinking water.

The company has used the chemical, also called perfluorooctanoic acid, or PFOA, to make nonstick and stain- and water-resistant coatings for products — including pots, pans, carpets and clothes — for more than 50 years.

Some court records show that company scientists issued internal warnings about C8 as early as 1961.

Residents near the DuPont plant who don’t have any of the six conditions linked to C8 exposure are eligible for medical monitoring paid for by DuPont as a result of the 2005 settlement. Letters about the monitoring began going out to residents last week.

Deitzler said those people can sue DuPont later if certain medical conditions show up.

2007年12月21日 ダイキン 

フッ素化学製品におけるPFOA全廃

ダイキン工業は、フッ素化学製品の製造工程で使用され、また一部の製品中に微量含まれるPFOA(環境残存性のあるフッ素化合物)について、ヒトへの健康被害に関連性を結論づけた報告や法規制はありませんが、自主的に、2012年を目標に代替製品に置き換えることで、PFOAの製造・使用・販売、ならびにC8テロマーを原料とする撥水・撥油剤製品の製造・販売を全面的にとりやめます。

2000年、米国においてPFOAのヒトへの蓄積性が注目されました。これを受けて、弊社などPFOAが含まれる製品を製造・販売する企業が中心となって、米国政府(米国環境保護庁)と情報の共有化や共同研究を行ってきました。
また、弊社は同業の7社(デュポン、3M/ダイネオン、旭硝子、ソルベイ・ソレキシス、アルケマ、クラリアント、チバ・スペシャルティー・ケミカル)とともに「PFOA自主削減プログラム(PFOA 2010/2015スチュワードシップ・プログラム)」に参加し、PFOAの環境への放出および製品中の含有量の削減目標である「2010年に2000年比95%削減、2015年に全廃」することで取り組んできました。

環境への放出削減については、淀川製作所(大阪府摂津市)を例にとると、2006年に大気放出を80%(2000年比)、産業排水を83%(同)削減しました。製品中のPFOA含有量削減については、含有量の多いフッ素樹脂水性ディスパージョン製品(調理器具のフッ素コーティングなどの材料)を、現在すでに90%強(同)、削減しています。

今後は、2010年の目標を1年早め2009年に95%削減、さらに2015年の目標を3年前倒して2012年に全廃することをめざして、取り組みを加速します。

※ PFOA

PFOAはPerfluorooctanoic acid(パーフルオロオクタン酸;C7F15COOH)の頭字語で、一般にパーフルオロオクタン酸およびその塩類(アンモニウム塩、アルカリ金属塩;C7F15COOX、XはNH4、Na、Kなど)を含む化合物の総称として用いられています。また炭素(C)が8個含まれていることからC8と呼ばれることもあります。
PFOAは、半導体・情報通信・自動車・航空産業・化学工業・調理用器具コーティングなど、幅広い用途で使用される一部のフッ素樹脂・ゴム製品の製造に必要な助剤として使用されています。

2006年1月末、米国環境保護庁は「PFOA自主削減プログラム(PFOA 2010/2015スチュワードシップ・プログラム)」を発表し、世界の主要フッ素化学メーカー8社*に対し、プログラムへの参加を呼びかけました。プログラムの内容は以下の通りです。

*フッ素化学メーカー8社; デュポン、3M/ダイネオン、旭硝子、ソルベイ・ソレキシス、アルケマ、クラリアント、チバ・スペシャルティー・ケミカル、ダイキン工業

(1) PFOA、もしくは分解してPFOAを発生する前駆体物質b)、およびC8より炭素数の多い類縁物質c)の、工場から環境中への排出量、製品中含有量の両方について、2010年に基準年比95%削減すること。
(2) PFOA、もしくは分解してPFOAを発生する前駆体物質、およびC8より炭素数の多い類縁物質を2015年に全廃することに対する努力を行うこと(Working toward the elimination)を約束すること。

b) 撥水・撥油剤の製造プロセスにおけるC8F17CH2CH2OH(テロマーアルコール)、C8F17I(テロマーアイオダイド)等のことで、製品中に残存しPFOAに変化すると考えられる物質
c) PFOAやその前駆体と同様な化学構造をもつ、炭素(C)が9個以上の物質 

弊社は、他の7社と同様に、2006年2月末、プログラムへ参加し、着実に削減を実行しています。


12/18/2014     

DuPont Announces Filing of Form 10 Registration Statement for Performance Chemicals Spinoff; 'The Chemours Company' Selected as Name of New Public Company

DuPont announced today that the new public company created following completion of the pending separation of its Performance Chemicals segment will be named The Chemours Company ("Chemours").  In addition, DuPont disclosed Chemours' executive leadership team and announced the filing of the initial Form 10 registration statement with the U.S. Securities and Exchange Commission.  DuPont today also will file a Form 8-K/A with an update related to the company's redesign initiative.

"Today's announcements continue our solid progress to complete the separation of Performance Chemicals and create two strong, publicly traded companies with distinct value creation strategies," said DuPont Chair and Chief Executive Officer Ellen Kullman. "DuPont and Chemours will each be global leaders, well positioned to pursue their respective objectives and strategies."

The Chemours Company
Following its separation from DuPont, Chemours will be a new, publicly traded global leader in titanium dioxide, fluoroproducts and chemical solutions. The name reflects a focus on the science of chemistry and the heritage of the du Pont family origins in Nemours, France.

Chemours will have approximately 9,100 employees, 37 production facilities in 12 countries, and will serve over 5,000 customers worldwide.  Chemours intends to apply to list on the New York Stock Exchange under Ticker Symbol "CC."


Nov. 19, 2015  

Chemours Signs Definitive Agreement to Sell Aniline Facility
         Agreement is Another Step in the Company’s Five-Point Transformation Plan

The Chemours Company, a global chemical company with leading market positions in titanium technologies, fluoroproducts and chemical solutions, has signed a definitive agreement to sell its aniline facility in Beaumont, Texas to The Dow Chemical Company (Dow) for approximately $140 million in cash. The transaction close is subject to customary approvals and closing conditions.

DuPontの取締役会は2015年6月5日、分離上場するPerformance Chemicals 事業の新会社 The Chemours Companyの株式を株主に配当として支払うことを決めた。
6月23日時点の株主に、DuPont株式 5株当たり新会社株式 1株を7月1日に渡す。端数株式はまとめて売却し、現金で配分する。

2015/6/12 DuPont、Performance Chemicals 事業を分離   

As part of this transaction, Chemours has entered into an agreement to meet Dow’s additional aniline requirements with supply from its Pascagoula, Mississippi facility. Chemours will continue to serve other aniline customers from its Pascagoula plant.

“We have moved rapidly since Chemours was created in July to capture substantial cost reductions and streamline our portfolio,” said Mark Vergnano, Chemours president and CEO. “We will continue to take actions to deliver on every aspect of our five-point transformation plan, and to enable greater focus on our businesses that have the strongest advantages and greatest market opportunities.”

Vergnano added: “Dow owning the Beaumont aniline facility is a natural fit, since Dow has been our largest aniline customer for many years. Our aniline facility employees have been a valued part of our company, and we wish them well in this next chapter of their working lives.”

About The Chemours Company
The Chemours Companyhelps create a colorful, capable and cleaner world through the power of chemistry. Chemours is a global leader in titanium technologies, fluoroproducts and chemical solutions, providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. Chemours ingredients are found in plastics and coatings, refrigeration and air conditioning, mining and oil refining operations and general industrial manufacturing.
Our flagship products include prominent brands such as Teflon™, Ti-Pure™, Krytox™, Viton™, Opteon™ and Nafion™.
Chemours has approximately 8,400 employees across 36 manufacturing sites serving more than 5,000 customers in North America, Latin America, Asia-Pacific and Europe. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.


 

2017/3/31 

DuPont Announces Agreement with FMC 

DuPont today announced that it has entered into a definitive agreement with FMC Corporation to divest a portion of DuPont’s Crop Protection business, including certain research and development capabilities, and to acquire substantially all of FMC’s Health & Nutrition business. The transaction includes consideration to DuPont of $1.6 billion to reflect the difference in the value of the assets, including cash of $1.2 billion and working capital of $425 million. The divestiture will satisfy DuPont’s commitments to the European Commission in connection with its conditional regulatory clearance of the merger with Dow.

“We believe this agreement is an excellent outcome that serves the best interests of all stakeholders, including our shareholders, customers and employees,” said Edward D. Breen, chairman and chief executive officer of DuPont. “Our intended independent Agriculture company will continue to benefit from the combined, complementary strengths of DuPont and Dow, which will include greatly expanded offerings and a robust pipeline across seed germplasm, biotech traits, and crop protection to provide greater choice and innovation to growers around the world. At the same time, we are significantly enhancing our Nutrition & Health capabilities, a key area of growth and opportunity for the intended independent Specialty Products company.

“This agreement with FMC is a win-win. It is pro-competitive; it advances the regulatory approval process; and it maintains the strategic logic and value creation potential of our merger with Dow and the three independent companies we intend to create,” concluded Breen.

The merger transaction is still expected to generate cost synergies of approximately $3 billion and growth synergies of $1 billion.

Divestiture of Select DuPont Crop Protection Assets

Under the terms of the agreement, FMC will acquire DuPont’s Cereal Broadleaf Herbicides and Chewing Insecticides portfolios – including Rynaxypyr®, Cyazypyr® and Indoxacarb. In addition, FMC will acquire the DuPont Crop Protection research and development pipeline and organization, excluding seed treatment, nematicides, and late-stage R&D programs, which DuPont will continue to develop and bring to market, and excluding personnel needed to support marketed products and R&D programs that will remain with DuPont. The assets being divested generated revenues in 2016 of about $1.4 billion.

Following the divestiture, the Agriculture division of the merged company will retain strong crop protection assets, including an excellent portfolio in corn and soy broadleaf and grass control, a robust cereal weed control portfolio, DuPont’s strong position in disease control, and Dow AgroSciences’ industry leading insecticide portfolio. With its continued strength in R&D, the combined Agriculture division will be well positioned to accelerate growth, leveraging strong pipelines in both seeds and chemistry to serve growers around the world with a robust portfolio of innovative solutions, greater choice, and competitive price for value.

Acquisition of FMC Health & Nutrition Business

As part of the transaction agreement, DuPont will acquire FMC’s Health & Nutrition business, which generated more than $700 million in revenues in 2016 from two main segments: texturants (スターチなど)as food ingredients and pharmaceutical excipients賦形剤. The business is highly complementary to DuPont’s existing Nutrition & Health (N&H) business with opportunity for growth synergies. By integrating FMC’s complementary Health & Nutrition business, DuPont will strengthen its N&H capabilities with broader offerings and an expanded footprint.

DuPont’s N&H business is a leader in the food ingredients industry, using renewably sourced raw materials to create a wide range of ingredients that food manufacturers use to provide safer, healthier, more affordable and nutritious food and beverages for consumers.  This transaction strengthens DuPont’s access to key ingredients for its systems and food texturants portfolio, enables the business to expand into the fast-growing pharma excipients space, and provides access to new and complementary routes to market. As a result, DuPont N&H will be in a stronger position to drive growth, invest in R&D, and provide more products and solutions to customers worldwide.

The transaction with FMC is expected to close in the fourth quarter of 2017, subject to the closing of the DuPont and Dow merger, in addition to other customary closing conditions, including regulatory approvals.

To accommodate the requirements of the FMC transaction, DuPont and Dow have amended the merger agreement to extend the “Outside Date” to August 31, 2017, and the companies anticipate closing of the merger to occur between August 1, 2017 and September 1, 2017, subject to satisfaction of customary closing conditions, including receipt of regulatory approvals. The companies still expect the intended spin-offs to occur within 18 months after closing. In addition, Dow and DuPont are announcing that they now expect the first spin-off of the intended separation process will be the spin-off of the post-merger Material Science company.

Evercore and Goldman, Sachs & Co. are serving as DuPont’s financial advisors for the transaction, with Skadden, Arps, Slate, Meagher & Flom LLP acting as its legal advisor.