“The Protective Coatings portfolio features an excellent product line, but it no longer presents a strategic fit for DuPont,” said Terry Caloghiris, group vice president, DuPont Coatings & Color Technologies. “Since Sika specializes in these kind of products, it offers a strong future for the business and its employees.
DuPont has also agreed to sell its Special Adhesives business to Bostik GmbH, based in Borgholzhausen, Germany.
“We looked for synergies within DuPont that would allow this business to deliver the financial results to which we have committed for our entire portfolio, but a viable option was not identified,” said Caloghiris.
Under the sale agreement, DuPont will continue to produce adhesives for Bostik until its own manufacturing facilities are established.
These divestitures are part of the transformation strategy announced by DuPont Performance Coatings in March 2006. The strategy is designed to allow the unit to focus more effectively on global growth in refinish, automotive OEM, transporation, powder and liquid coatings for industrial markets, according to the company.