DowDuPont: several adjustments made to spin-off plans.
(CercleFinance.com) - Newly formed DowDuPont said on Tuesday that it has decided to make adjustments to the portfolio composition of its materials science and specialty products divisions, two of the three independent companies that the company intends to spin off in the next 18 months.
As a result of a review, the chemical company will realign several businesses to the specialty products division from the materials science unit, including Dow's automotive adhesives and fluids, DuPont's performance polymers and several silicone-based businesses.
DowDuPont said the businesses account for total net sales of over 8 billion dollars, and approximately 40% of former Dow Corning's earnings.
Investment firm Glenview Capital Management, which currently owns 0.7% of DowDuPont, immediately applauded today's announcement and praised the work done by consulting firm McKinsey in the process.
The DowDuPont shares were reacting positively to the news, up 2.3% at 68.4 dollars.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
As a result of a review, the chemical company will realign several businesses to the specialty products division from the materials science unit, including Dow's automotive adhesives and fluids, DuPont's performance polymers and several silicone-based businesses.
DowDuPont said the businesses account for total net sales of over 8 billion dollars, and approximately 40% of former Dow Corning's earnings.
Investment firm Glenview Capital Management, which currently owns 0.7% of DowDuPont, immediately applauded today's announcement and praised the work done by consulting firm McKinsey in the process.
The DowDuPont shares were reacting positively to the news, up 2.3% at 68.4 dollars.
Copyright (c) 2017 CercleFinance.com. All rights reserved.