Nov 21 DuPont said it would sell its
glass-laminating and vinyls business to Japan's Kuraray Co Ltd
for $543 million, as part of a plan to shift its focus
to agriculture, alternative energy and specialty materials.
The business, which makes resins used in windshields and
industrial products, will give Synthetic fiber maker Kuraray
access to cheap U.S. natural gas, a key raw material, an analyst
"The business may be worth more to an Asian buyer," said
John Roberts, who leads U.S. chemical coverage at UBS Investment
Kuraray will also pay the value of inventories, the
companies said in a statement.
The sale of the business, which reported sales of about $500
million in 2012, is expected to close in the first half of 2014.
The business, housed in DuPont's packaging & industrial
polymers unit, has 600 employees and six manufacturing sites in
the United States, Europe and Asia.
Roberts said the business was not technologically
differentiated and margins were on the lower end of DuPont's
As part of DuPont's shift to high-growth areas, the company
said last month it would spin off its performance chemicals
business, which makes paint pigments and materials used in
non-stick frying pans, into a separately traded public company
within 18 months.
DuPont shares were little changed at $61.12 in morning
trading on the New York Stock Exchange.