MOSCOW (MRC) -- DuPont confirmed plans to update reporting segments following the 1 February divestiture of its nutrition and bioscience business to IFF, according to Chemweek.
The company will report in three segments starting with its first-quarter 2021 earnings report. The segments are electronics and industrial (2020 sales of USD4.7 billion, which will include industrial solutions interconnect solutions; and semiconductor technologies business); mobility and materials (2020 sales of USD4 billion, including advanced solutions, engineering polymers, and performance resins); and water and protection (2020 sales of USD5 billion, which will include safety solutions; shelter solutions; and water solutions.
DuPont will shift its Kalrez perfluoroelastomer, Vespel polyimide parts and shapes, Molykote, and healthcare silicones from the former transportation and industrial segment to electronics and industrial.
The company said that its Tedlar films, microcircuit materials and the DuPont Teijin Films joint venture, previously non-core businesses designated for sale, would become part of the mobility and materials segment. DuPont executive chair and CEO Edward Breen said on the company’s 9 February earnings call that a sale of the businesses in the current market would not generate sufficient shareholder return. The shift winds down DuPont's non-core segment. DuPont has divested nine businesses designated non-core since June 2019 with cash proceeds for more than USD2.2 billion.
Breen also indicated that DuPont would pursue targeted M&A in 2021 with as much as USD2.5 billion allocated for acquisitions.
As MRC wrote previously, in January, 2021, Chilean oil refiner ENAP Refinerias S.A. selected BELCO scrubbing technology, licensed by DuPont Clean Technologies (DuPont), to improve emissions control from its 31,449 BPSD fluid catalytic cracking (FCC) unit at the Aconcagua refinery.
We remind that DuPont is investing USD400 million in the production capacity of Tyvek nonwoven fabric made from high density polyethylene (HDPE) at its site in Luxembourg. A new building and a third work line at the production site will be constructed. The launch of new facilities is scheduled for 2021.
According to MRC's ScanPlast report, November estimated HDPE consumption in Russia rose to 125,950 tonnes from 58,330 tonnes a month earlier. ZapSibNeftekhim reduced its export polyethylene (PE) sales. Overall HDPE shipments to the Russian market totalled 1,096,510 tonnes in the first eleven months of 2020, up by 5% year on year. Production and exports grew significantly, whereas imports fell by 31%.
The DuPont Corporation, founded in the USA in 1802, operates in more than 70 countries. The company produces specialty chemicals, offers goods and services for agriculture, food production, electronics, communications, security and protection, construction, transport and light industry. In Russia, DuPont has 100% control over the DuPont Khimprom plant since 2005, and in 2006 established a joint venture between DuPont - Russian Paints and Russian Paints.
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