Sector News

DuPont Names Planned Performance Chemicals Spinoff

December 22, 2014
Chemical Value Chain
DuPont Co. said it plans to name the new public company created by the spinoff of its company’s performance chemicals business the Chemours Co.
 
In a regulatory filing, DuPont said the name reflects a focus on the science of chemistry and the heritage of the du Pont family origins in Nemours, France.
 
The separation of the performance chemicals unit remains on track for mid-2015.
 
DuPont also said it expects to post an additional charge of $315 million during the fourth quarter related to a streamlining initiative unveiled in June, pushing such charges to nearly $580 million for 2014.
 
Nelson Peltz ’s activist investment fund Trian Fund Management LP has pressed for DuPont to split, creating one company that focuses on agricultural and nutrition and another with industrial materials operations. However, DuPont has been resisting, instead planning to spin off the performance chemicals unit, which makes up roughly 20% of its revenue.
 
Chemours intends to apply to list on the New York Stock Exchange under ticker symbol “CC.”
 
By Tess Stynes
 

comments closed

Related News

May 15, 2022

New York’s EPR and packaging reduction bills lauded as game-changers in plastic pollution battle

Chemical Value Chain

The US State of New York is introducing two new bills to combat over-packaging, poor recycling rates and litter issues, including an Extended Producer Responsibility (EPR) program requiring companies such as McDonald’s and Amazon to pay for the cost of packaging disposal and recycling.

May 15, 2022

Borealis and Reclay launch entity focused on lightweight packaging 

Chemical Value Chain

The new organization’s mission is to redesign the critical steps of the plastics sorting and recycling system for post-consumer lightweight packaging (LWP) to speed up circularity, born from a need to meet the rising market demand for high-quality recyclates for use in high-end plastic applications.

May 15, 2022

Starbucks and Hubbub launch reusable packaging fund as COVID-19 diminishes consumer appetite

Chemical Value Chain

Starbucks and Hubbub have launched a £1 million (US$1.22 million) “Bring It Back Fund” to increase the uptake of reusable packaging in the F&B industry. The funding will go toward innovative ideas that make it easier for customers to use alternatives to single-use packaging by supporting pilot projects that help shift consumption habits.