DuPont announced completion of the previously-announced sale of its Biomaterials business unit, effective May 31, 2022, to the Huafon Group for a purchase price of approximately USD240 mln, said the company.
The results of operations of the Biomaterials business unit were previously reported in Corporate & Other. For full year 2021, the Biomaterials business unit recorded net sales of approximately USD200 million.
DuPont is a global innovation leader with technology-based materials and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, healthcare and worker safety.
As MRC reported earlier, DuPont is to invest around USD5 m at facilities in Germany and Switzerland to increase capacity for automotive adhesives. The investment will expand capacity to support growing demand for advanced mobility solutions for vehicle electrification. New equipment has been delivered and installed that will increase manufacturing capacity as well as accelerate delivery of product samples to customers.
We remind that DuPont is also 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 was scheduled for 2021.
Founded in 1991 and headquartered in Ruian, China, the Huafon Group has been innovating to provide new material solutions globally in multiple industries by promoting sustainability, safety, technology and quality. Huafon Group is one of the largest manufacturers of polyurethane (PU) materials in the world with broad product portfolio in adipic acid, polyester polyols, spandex filament, microfiber material, TPU, polyamide etc. Huafon Group has more than 14,000 employees and owns multiple subsidiary companies globally in chemical, metals, finance, logistics, information technology and trade.
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