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E. I. du Pont de Nemours and Co To Spin Off Titanium Dioxide Unit-Reuters


Thursday, 24 Oct 2013 04:48pm EDT 

Reuters reported that E. I. du Pont de Nemours and Co said that it will spin off its titanium dioxide unit and related businesses into a separately traded public company within 18 months. The move to separate the Performance Chemicals business, which had been aggressively sought by Wall Street, will allow DuPont to better focus on specialty materials and agriculture, two growth areas. DuPont said its existing shareholders will own 100% of the business after the spinoff. The spinoff will likely dent fourth-quarter earnings by a penny to 2 cents per share. 

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