DuPont has entered into a definitive agreement to acquire Spectrum Plastics Group (Spectrum) from AEA Investors. The purchase price will be paid from existing cash balances, said Process-worldwide.
The transaction is expected to close by the end of the third quarter of 2023, subject to regulatory approvals and other customary closing conditions.
Spectrum is a recognized leader in advanced manufacturing of specialty medical devices and components, serving 22 of the top 26 medical device OEMs with a strategic focus on key fast-growing therapeutic areas such as structural heart, electrophysiology, surgical robotics and cardiovascular.
Spectrum has more than 2,200 employees and has delivered consistent high single-digit growth rates for many years. With its strong financial performance, advanced manufacturing expertise, and customer-centric orientation, Spectrum is fully aligned with DuPont’s strategic objective of delivering innovative specialized materials and solutions into attractive end markets with long-term secular growth trends.
We remind, DuPont has been found guilty of criminal negligence and fined USD12 million in connection with a November 2014 explosion that killed four employees of its methyl mercaptan plant in LaPorte, Texas, and caused extensive environmental damage.
mrchub.com