DuPont has announced plans to merge its packaging and industrial polymers business unit with performance polymers, as well as combine protection technologies and building innovations.
The consolidated business units will continue to operate under their existing reporting segments—performance materials; and safety and protection, respectively.
DuPont says the move will “create greater efficiency and enhanced capabilities” in their respective segments. The move will be effective 6 January. The company’s reporting segments will not change.
“By bringing these business units together under common management structures, we are creating businesses of more significant scale to better serve our customers with more powerful science capabilities and stronger applications development,” says DuPont interim chair and CEO Edward D. Breen. “At the same time, this will lead to more effective deployment of capital in these businesses, while capturing savings in our cost structure and driving greater value for our shareholders.”
Patrick Lindner, currently president/performance polymers, will lead the performance materials reporting segment. Rose Lee, currently president/protection technologies, will lead the combined protection technologies and building innovations business unit—which will be called protection solutions—within the safety and protection reporting segment. John Chroniak will remain president/sustainable solutions, which will remain part of safety and protection.
The move comes less than a month after Breen replaced Ellen Kullman and promised to take a “hard look” at DuPont’s cost structure, working capital performance, and capital spending.
DuPont tells CW that William Harvey, president/packaging and industrial polymers and Rajeev Vaidya, president/building innovations will remain in their current roles until the end of the year. “Further updates regarding their plans thereafter will be forthcoming,” it adds.
By Rebecca Coons
Source: Chemical Week
3M and Dow have announced they are cutting thousands of roles from their global workforces in response to economic pressures. Dow has said it will cut 2,000 jobs across its global workforce (around 5%) in a bid to save US$1bn in 2023. The company says it will also cut costs by shutting down “select assets”, though it did not note where it would halt operations.
Sweden’s state mining firm has discovered what could be Europe’s largest rare earths deposit, and says it could help the bloc reduce its reliance on imports of minerals needed to manufacture clean technologies and meet climate targets.
Henkel and Avantium have been partners since 2019, when Henkel joined the PEFerence consortium. This consortium of partners, coordinated by Avantium, aims to establish an innovative supply chain for FDCA and PEF (polyethylene furanoate).