DowDuPont will bolster its planned Delaware-based Specialty Products spinoff with the addition of more than seven business lines totaling more than $8 billion in revenue.
Read the full article at DelawareOnline.com
Dow and DuPont merged to form DowDuPont last month. The nearly $150 billion company will break apart in about two years to create three independent, publicly traded businesses. In addition to the Specialty Products and Material Sciences companies, DowDuPont will also spin off its agricultural unit into a Wilmington-based independent company.
The decision to transfer spin off assets is based on a report by business management consulting firm McKinsey & Co. Philadelphia-based McKinse was charged with reviewing each spin off’s portfolio to create the most value for shareholders.
Under the new plan, DowDuPont will shift its automotive systems, building solutions, water, food and pharma, performance polymers, microbial control business, and several silicones-based businesses to the specialty products unit here in Delaware.
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