Business News
DuPont Acquires Chemtura Fluorine Chemicals Business
Monday 04. February 2008 - Expands Specialty Businesses, Advances Development Strategy for More Sustainable Products
DuPont (NYSE:DD) today announced that it has completed its purchase of Chemtura Corporation’s fluorine chemicals business. The move is part of DuPont’s strategy to expand its fluorochemicals business offerings; enhance its presence in specialty businesses such as the fire extinguishants, pharmaceutical propellants and fluoro-intermediate markets; and leverage the assets and technologies included in the acquisition for the development of more sustainable fluorochemical materials, such as low global warming potential mobile air-conditioning fluids, foam expansion agents and refrigeration technologies.
Financial terms were not disclosed.
The acquisition includes all of Chemtura’s fluorine business, along with the fluorine chemicals production unit that is part of Chemtura’s manufacturing site in El Dorado, Ark., which will be fully integrated into DuPont’s operations. All fluorine chemicals intellectual property rights will be transferred to DuPont. Approximately 25 Chemtura employees will become part of DuPont Fluoroproducts.
“We are pleased to bring together these complementary businesses and technologies for our customers,” said Cindy Green, vice president and general manager – DuPont Fluoroproducts. “With this acquisition, we will be able to provide our global customers with an expanded portfolio of products and continue to develop and introduce new, more sustainable solutions that combine strong product performance, reduced environmental footprint and economic viability to the fluorochemical markets we serve.”