DuPont, which will separate from DowDuPont on June 1, has disclosed 10% of its business portfolio that it no longer wants and is likely to sell. DowDuPont officials previously said they wanted to divest 10% of the DuPont portfolio but were scant on details.
DuPont will transfer the businesses, which have combined annual sales of about $2 billion, to a new “non-core” operating segment.
Included in this group is DuPont’s stake in Hemlock Semiconductor, a silicon joint venture with Corning and Shin-Etsu Handotai. Also in the mix is its biomaterials business, which has a 1,3-propanediol fermentation joint venture with the sugar maker Tate & Lyle. The biomaterials business also makes polytrimethylene terephthalate, a propanediol derivative used in fibers and engineering polymers.
Another non-core business is Photovoltaic Solutions and Advanced Materials, which makes metallization pastes and silicone encapsulants. DuPont Clean Technologies, a supplier of sulfuric acid and other services to process industries, is also on the chopping block.
DuPont already has agreements in place for two of the businesses in the non-core segment. DuPont Teijin Films is being sold to Indorama. And a Swiss private equity firm, Gyrus Capital, is buying the consulting business, DuPont Sustainable Solutions.
In a conference call with analysts, Marc Doyle, who will lead the new DuPont, said the divestitures will enable the company to focus on growth. “We will consider the full range of strategic operations for these businesses with the best interests of shareholders and key stakeholders in mind,” he said.