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DuPont de Nemours, Inc. reports recurring developments across its specialty materials and advanced solutions businesses serving healthcare, water, construction and industrial markets. Company updates include product introductions such as DuPont Water Solutions digital tools for reverse osmosis operations, Corian® Design surface materials, and Liveo™ components for pharmaceutical and biopharmaceutical processing.
DuPont news also covers R&D and digital innovation initiatives, including AI-enabled laboratory workflows and customer-facing analytics, along with operating and financial results, regular common-stock dividends, shareholder voting matters, capital-structure disclosures and governance changes.
DuPont (NYSE: DD) has announced a new $1.5 billion share buyback program approved by its Board of Directors, set to expire on June 30, 2022. This program will allow the repurchase of shares in various market transactions, contingent on management's discretion and external factors. As of December 31, 2020, DuPont had $1 billion remaining from its previous buyback program, which it aims to complete by June 1, 2021. The decision indicates confidence in the company's value and a commitment to enhancing shareholder returns.
DuPont (NYSE: DD) announced a definitive agreement to acquire Laird Performance Materials from Advent International for $2.3 billion. This acquisition, funded through existing cash, is expected to close in Q3 2021, pending regulatory approvals. Laird, a leader in electromagnetic shielding and thermal management, generated $465 million in revenue in 2020 with attractive profit margins. The deal aims to enhance DuPont's technology portfolio and is projected to realize approximately $60 million in cost synergies by 2024, benefiting its financial performance.
DuPont (NYSE:DD) announced a collaboration with Waterise to provide seawater reverse osmosis membranes for subsea desalination plants. This innovative approach reduces energy requirements by 40% and land use by 80%, addressing water scarcity while minimizing environmental impact. Waterise will utilize DuPont's FilmTec™ membranes exclusively, and both companies will collaborate on research and development. DuPont has over 40 years of experience in desalination technologies, enhancing sustainability and membrane durability.
DuPont (NYSE: DD) announces over $40 million investment to enhance production of MOLYKOTE® Specialty Lubricants at its facilities in Berkeley County, South Carolina, and Chiba, Japan. This initiative aims to support the burgeoning demand in the autonomous and electric vehicle sectors while meeting sustainability requirements. The new plants will feature state-of-the-art systems, boosting capacity and reliability. The expansion is expected to drive growth across various industries, including automotive and healthcare, establishing DuPont as a leader in high-performance lubrication solutions.
DuPont has appointed Christopher Raia as the new Senior Vice President and Chief Human Resources Officer, effective March 1, 2021. Raia, who previously served as Interim HR Chief, has over 25 years of HR experience, focusing on talent development, agile working practices, and employee well-being. Ed Breen, DuPont's Executive Chairman, praised Raia's role in fostering an engaging and high-performing culture. Raia expressed his commitment to enhancing leadership and organizational culture as DuPont evolves as a multi-industrial leader.
DuPont Clean Technologies has signed a contract with ISAB, owned by LUKOIL, to revamp the diesel hydrotreater at the Priolo Refinery in Italy using IsoTherming® technology. This upgrade aims to enhance unit capacity to 205 m3/hr while extending catalyst cycle length. IsoTherming® technology lowers energy consumption and operational costs by 30-60%, provides potential capital savings of up to 30%, and is proven to handle various feedstocks efficiently. The startup of the new hydrotreater is anticipated by 2024.
DuPont (NYSE: DD) announced a first quarter dividend of $0.30 per share, payable on March 15, 2021. Shareholders on record as of March 1, 2021 will receive this dividend. The company aims to reward its investors while continuing its role as a global innovation leader across various industries, including electronics and healthcare.
DuPont (NYSE: DD) reported fourth quarter 2020 financial results, achieving net sales of $5.3 billion, a 1% increase year-over-year. GAAP EPS from continuing operations rose to $0.37, attributed to favorable tax benefits despite higher depreciation. Operating EBITDA fell 7% to $1.3 billion. The Electronics & Imaging segment led growth with record sales of $1 billion, driven by semiconductors and smartphones. The company completed the divestiture of its Nutrition & Biosciences business, aiming to streamline operations. DuPont anticipates 2021 net sales between $15.4 and $15.6 billion, reflecting an 8% growth forecast.
DuPont announced the final results of its exchange offer related to the merger with International Flavors & Fragrances Inc. (IFF). A total of 368,655,051 shares were tendered, with a proration factor of 52.53%. Holders of 197,410,113 shares, approximately 27% of DuPont's outstanding shares, exchanged their stock for N&B common stock at an exchange ratio of 0.7180, resulting in receiving IFF shares post-merger. The transaction was supported by Goldman Sachs, J.P. Morgan, and Evercore as financial advisors.
An international private equity consortium, including BroadPeak Global, Asia Green Fund, and Dussur, has signed an agreement to acquire DuPont's Clean Technologies business for $510 million in cash. This transaction is set to close in Q2 2021, pending regulatory approvals. DuPont Clean Technologies is noted for its advancements in sulfuric acid production, hydroprocessing technology, and air pollution control systems. The Group aims to enhance the business's presence globally, particularly in addressing environmental issues and pushing for carbon neutrality.