DuPont to dispose DuPont Neoprene to Denka Performance Elastomer.
M2 EQUITYBITES-December 11, 2014-DuPont to dispose DuPont Neoprene to Denka Performance Elastomer
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Science and engineering company DuPont Performance Polymers on Wednesday reported a definitive agreement to sell its DuPont Neoprene polychloroprene to Denka Performance Elastomer, part of DENKA (Denki Kagaku Kogyo K.K.) headquartered in Tokyo, Japan.
Denka Performance Elastomer is a new joint venture company that is owned 70% by DENKA and 30% by Mitsui (Mitsui & Co).
Neoprene is reportedly a synthetic rubber used for many chemical and weather-resistant products. It is used as a base resin in adhesives, electrical insulation and coatings.
DuPont manufactures Neoprene polychloroprene in North America through manufacturing operations at its Pontchartrain Works site in La Place, La. Approximately 235 employees in the US will be included in the transaction.
This sale is expected to close in the first half of 2015 pending receipt of customary regulatory approvals. Financial terms of the deal are not being disclosed.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Dec 11, 2014|
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