China Drying Network News Global asset management giant Carlyle Group and DuPont announced on August 30 that the two parties have reached a definitive agreement and Carlyle Group will acquire DuPont's high performance coatings business for US$4.9 billion. There are still some details of this transaction to be discussed. In addition, approval must be obtained from the relevant regulatory authorities. It is expected that the first quarter of 2013 will be finalized. Founded in 1922, DuPont Performance Coatings, headquartered in Wilmington, Delaware, USA, consists of four parts: refinish, original equipment manufacturing, industrial liquids and powder products, mainly to provide related products for the automotive and industrial sectors. Customers in 120 countries around the world, with multiple sets of production facilities around the world, a total of more than 11,000 employees. The sales revenue of this sector is expected to exceed $4 billion in 2012. Alan Coleman, Chairman and Chairman of DuPont’s Board of Directors, said: “DuPont Performance Coatings is a leader in automotive coatings and industrial coatings, and is known for its world-class products and excellent customer service. We have always maintained growth, but after careful consideration, we determined that this part of the business will be able to achieve better development outside of Du Pont, so we sold it to Carlyle Group. This transaction and our vision - become the world's best The dynamic technology companies are in line with our long-term strategy to enhance DuPont's competitive advantages in the fields of agriculture, nutrients, advanced materials, and biotechnology because these areas have more opportunities for high growth and high profits. The head of the Carlyle Group stated that DuPont Performance Coatings is a successful business with an attractive market position, advanced technology and a very good brand. “We hope to further develop, make it possible to introduce better products and grow more robustly to accelerate its business development in emerging markets, especially China and Brazil, and become an independent company. We look forward to working with related management Realize the growth potential of this part of the business." Alan Coleman emphasized that although DuPont will sell high-performance coatings business, DuPont will continue to serve the automotive industry. “We will continue to work closely with customers in the automotive industry to provide them with high technology to ensure lightweight vehicles. Innovative results, with a revolutionary environment-friendly automotive air-conditioning refrigerant, seat cushion textiles based on biomaterials, and a new generation of biofuels, etc." After the completion of the transaction, DuPont's annual sales of advanced materials for the automotive industry will exceed $3 billion.
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