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DuPont de Nemours, Inc.

Company type	Public
Traded as	NYSE: DD S&P 100 component S&P 500 component
ISIN	US26614N1028
Industry	Chemicals
Predecessors	Dow Chemical "Old" DuPont
Founded	September 1, 2017; 7 years ago (2017-09-01)
Headquarters	Wilmington, Delaware, USA
Area served	Global
Key people	Edward D. Breen (CEO)  Lori Koch (CFO)
Revenue	US$85.97 billion (2018)
Operating income	US$5.40 billion (2018)
Net income	US$3.84 billion (2018)
Total assets	US$188.03 billion (2018)
Total equity	US$94.57 billion (2018)
Number of employees	~98,000 (2018)
Website	www.dupont.com

DuPont de Nemours, Inc., commonly known as DuPont, is an American company formed by the merger of Dow Chemical and DuPont on August 31, 2017, and then subsequent spinoffs of Dow Inc. and Corteva. Prior to the spinoffs it was the world's largest chemical company in terms of sales.

Within 18 months of the merger the company was split into three publicly traded companies with focuses on the following: agriculture, materials science, and specialty products. The agriculture division is named Corteva, the materials science spin-off is named Dow Inc., and the specialty products division is named DuPont. Jeff Fettig is executive chairman of the company, and Edward Breen is the CEO. The merger has been reported to be worth an estimated $130 billion. With 2018 total revenue of $86 billion, DowDuPont ranked No. 35 on the 2019 Fortune 500 list of the largest United States public corporations.

History

On December 11, 2015, "Old" DuPont announced a merger with Dow Chemical Company, in an all-stock transaction. The combined company, DowDuPont, had an estimated value of $130 billion, being equally held by both companies’ shareholders, while also maintaining its two headquarters. The merger of the two largest U.S. chemical companies closed on August 31, 2017.

Both companies' boards of directors decided that following the merger, DowDuPont would pursue a separation into three independent, publicly traded companies: an agriculture, a materials science, and a specialty products company.

• The agriculture business—Corteva Agriscience— unites Dow and DuPont's seed and crop protection unit, with an approximate revenue of $16 billion.
• The materials science segment—called Dow—consists of DuPont's Performance Materials unit, together with Dow's Performance Plastics, Materials and Chemicals, Infrastructure and Consumer Solutions, but excludes Dow's Electronic Materials business. Combined revenue for this branch totals an estimated $51 billion.
• The specialty products unit—called DuPont— includes DuPont's Nutrition & Health, Industrial Biosciences, Safety & Protection and Electronics & Communications, as well as Dow's aforementioned Electronic Materials business. Combined revenue for Specialty Products total approximately $12 billion.

Advisory Committees were established for each of the businesses. DuPont CEO Ed Breen would lead the Agriculture and Specialty Products Committees, and Dow CEO Andrew Liveris would lead the Materials Science Committee. These Committees were intended to oversee their respective businesses, and would work with both CEOs on the scheduled separation of the businesses’ standalone entities. Announced in February 2018, DowDuPont's agriculture division is named Corteva Agriscience, its materials science division is named Dow, and its specialty products division is named DuPont. In March 2018, it was announced that Jeff Fettig would become executive chairman of DowDuPont on July 1, 2018, and Jim Fitterling would become CEO of Dow Chemical on April 1, 2018. In October 2018, the company's agricultural unit recorded a $4.6 billion loss in the third quarter after lowering its long-term sales and profits targets.

In 2019, DuPont completed its spin off from DowDuPont.

Regulation

The European Commission opened a probe to assess whether the proposed merger was in line with the EU's respective regulations. The Commission investigated whether the deal reduced competition in areas such as crop protection, seeds and petrochemicals. The closing date for the merger was repeatedly delayed due to these regulatory inquiries.

Ed Breen said the companies were negotiating possible divestitures in their pesticide operations to win approval for the deal. As part of their EU counterproposal, the companies offered to dispose of a portion of DuPont's crop protection business and associated R&D, as well as Dow's acrylic acid copolymers and ionomers businesses.

The remedy submission in turn delayed the Commission's review deadline to April 4, 2017. The intended spins of the company businesses were expected to occur about 18 months after closing. According to the Financial Times, the merger was "on track for approval in March" 2017. Dow Chemical and DuPont postponed the planned deadline during late March, as they struck an $1.6 billion asset swap with FMC Corporation in order to win the antitrust clearances. DuPont acquired the Corporation's health and nutrition business, while selling its herbicide and insecticide properties.

The Commission conditionally approved the merger as of April, 2017, although the decision was said to consist of over a thousand pages and was expected to take several months to be released publicly. As part of the approval, Dow must also sell off two acrylic acid co-polymers manufacturing facilities in Spain and the US. China conditionally cleared the merger in May, 2017.

Reception

According to former United States Secretary of Agriculture during the Clinton administration, Dan Glickman, and former Governor of Nebraska, Mike Johanns, by creating a single, independent, U.S.-based and - owned pure agriculture company, Dow and DuPont would be able to compete against their still larger global peers.

On the other hand, if Monsanto and Bayer, the 1st and 3rd largest biotech and seed firms, together with Dow and DuPont being the 4th and 5th largest biotechnology and seed companies in the world respectively, both went through with the mergers, the so-called "Big Six" in the industry would control 63 percent of the global seed market and 76 percent of the global agriculture chemical market. They would also control 95 percent of corn, soybeans, and cotton traits in the US. Both duopolies would become the "big two" industry dominators.

The merger formed the world's largest chemical company in terms of sales. DuPont is headquartered in Wilmington, Delaware.

Since the spin off, the company has adapted its marketing and branding in order to establish a new identity that is "fundamentally different" from DowDuPont. To that end, the company in November 2019 published a list of sustainability commitments to be achieved by 2030.

References

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2. ^ "Dow, DuPont complete planned merger to form DowDuPont". Reuters. September 1, 2017. Archived from the original on September 11, 2017. Retrieved September 9, 2017.
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4. ^ Steve, Carmody (August 31, 2017). "Dow-DuPont merger becomes official". Michigan Radio. Archived from the original on September 1, 2017. Retrieved September 1, 2017.
5. ^ "DowDuPont names three company brands for separation". Icis.com. Archived from the original on August 17, 2018. Retrieved May 27, 2018.
6. "Archived copy". Archived from the original on August 16, 2018. Retrieved August 16, 2018.{{cite web}}: CS1 maint: archived copy as title (link)
7. "Fortune 500 Companies". Fortune. Archived from the original on August 23, 2019. Retrieved June 6, 2019.
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9. "DowDuPont Announces Brand Names for the Three Independent Companies It Intends to Create, Reflecting Ongoing Progress towards Separations". Dow-dupont.com. Archived from the original on June 4, 2018. Retrieved May 27, 2018.
10. Mordock, Jeff. "Bayer-Monsanto deal could turn up heat on Dow/DuPont". The News Journal. Wilmington, DE. Archived from the original on October 24, 2017. Retrieved June 2, 2017.
11. Mordock, Jeff. "to sell businesses to win EU approval". Delaware Online. Retrieved June 2, 2017.
12. Mordock, Jeff. "After Dow-DuPont merger, more pain or gain?". The News Journal. Wilmington, DE. Archived from the original on September 1, 2017. Retrieved June 2, 2017.
13. Ariel, Steve. "Analyzing the US Chemical Industry's Biggest Merger". Market Realist. Archived from the original on August 14, 2017. Retrieved June 2, 2017.
14. Benoit, David (March 12, 2018). "Dow Chemical's Andrew Liveris to Depart; Jim Fitterling to Be CEO of New Dow After Breakup". Wsj.com. Archived from the original on May 27, 2018. Retrieved May 27, 2018.
15. Maidenberg, Micah; Bunge, Jacob (October 18, 2018). "DowDuPont to Record $4.6 Billion Charge as Agriculture Unit Suffers". Wall Street Journal. ISSN 0099-9660. Archived from the original on October 19, 2018. Retrieved October 19, 2018.
16. "DuPont Becomes Independent Company, Uniquely Positioned to Drive Innovation-Led Growth and Shareholder Value". www.dupont.com. Archived from the original on July 11, 2019. Retrieved July 11, 2019.
17. Cardoso, Ricardo. "Mergers: Commission opens in-depth investigation into proposed merger between Dow and DuPont". European Commission. Archived from the original on May 16, 2017. Retrieved June 2, 2017.
18. Trefis staff. "Why Dow Chemical Company's Stock Was Up Last Week". Forbes. Archived from the original on February 28, 2017. Retrieved June 2, 2017.
19. Gurdus, Elizabeth. "Dow Chemical CEO and Trump manufacturing advisor: How US companies can benefit from 'fair trade'". CNBC. Archived from the original on September 1, 2017. Retrieved June 2, 2017.
20. Bunge, Jacob. "DuPont pushes back Dow deal closing". Market Watch. Archived from the original on April 21, 2017. Retrieved June 2, 2017.
21. ^ Jordan, Heather. "Dow, DuPont submit concessions to EU to gain merger approval". MLive. Booth Newspapers. Archived from the original on September 1, 2017. Retrieved June 2, 2017.
22. Toplensky, Rochelle. "ChemChina takeover of Syngenta nears EU approval". Financial Times. Archived from the original on March 30, 2017. Retrieved June 2, 2017.
23. Kaskey, Jack. "Dow-DuPont Merger Delayed Again Amid $1.6 Billion FMC Deal". Bloomberg. Archived from the original on June 14, 2017. Retrieved June 2, 2017.
24. ^ Bomgardner, Melody M. "Two big agchem mergers near completion". Chemical and Engineering News. Archived from the original on April 20, 2017. Retrieved June 2, 2017.
25. King, Anthony. "EU conditionally approves Dow–DuPont merger". Chemistry World. Archived from the original on September 1, 2017. Retrieved June 2, 2017.
26. Anantharaman, Muralikumar; Schmollinger, Christian. "Dow, Dupont planned merger gets conditional nod from China". Reuters. Archived from the original on June 1, 2017. Retrieved June 2, 2017.
27. GLICKMAN, Dan; JOHANNS, Mike. "Bush, Clinton Ag Secretaries: U.S. Needs American Ag Company to Counter Foreign Competition". Morning Consult. Archived from the original on September 1, 2017. Retrieved June 2, 2017.
28. "Dow, DuPont to Review Breakup Plan After Merger". Fox News. Archived from the original on July 9, 2017. Retrieved July 10, 2017.
29. "Dow, DuPont merger wins U.S. antitrust approval with conditions". In.reuters.com. Archived from the original on July 9, 2017. Retrieved May 28, 2018.
30. "Dissecting the Dow and DuPont Deal, from Merger to Split?". Forbes.com. Archived from the original on September 8, 2017. Retrieved July 10, 2017.
31. Dao, Emily (October 30, 2019). "DuPont, Formerly The Largest Chemical Company, Announces Nine New Sustainability Goals". The Rising - The Most Important Sustainability Stories. Archived from the original on November 4, 2019. Retrieved November 4, 2019.

External links

• Official website
• Business data for DuPont de Nemours, Inc.:
  • Bloomberg
  • Google
  • Reuters
  • SEC filings
  • Yahoo!

v t e DuPont
Selected directors	Edward D. Breen Alexander M. Cutler Rajiv L. Gupta
Products	Corian FE-13 Freon Hypalon Kalrez Kapton Kevlar Mylar Neoprene Nomex Nylon Sorona Teflon Tyvek Vespel Viton Zodiaq Zytel
Subsidiaries and joint ventures	Antec International
Divisions and facilities	DuPont Central Research DuPont Experimental Station DuPont Building
Notable people	Éleuthère Irénée du Pont Alfred I. du Pont Eugene du Pont Francis Gurney du Pont Francis Irénée du Pont Henry du Pont Lammot du Pont Pierre S. du Pont T. Coleman du Pont Jeffery Stanford Agate Anthony Joseph Arduengo III Jacques Antoine Bidermann Samuel Bodman Norman Borlaug Donaldson Brown Richard H. Brown Wallace Carothers Uma Chowdhry Thomas M. Connelly Curtis J. Crawford John T. Dillon Linda Fisher Richard Goodmanson Jeff Gordon Charles O. Holliday Steven Ittel Edward G. Jefferson Ellen J. Kullman Stephanie Kwolek James Lynah Rudolph Pariser George Parshall Charles J. Pedersen William Dale Phillips Roy J. Plunkett John J. Raskob William K. Reilly Irving S. Shapiro Richard R. Schrock Joseph Shivers Howard Ensign Simmons Jr. Charles Stine Frederick N. Tebbe Chadwick A. Tolman Earl Tupper Charles M. Vest Edgar S. Woolard Jr. Nathaniel C. Wyeth
History	DuPont (1802–2017) Du Pont family Atlas Chemical Industries B Reactor (Manhattan Project) Eleutherian Mills Hagley Museum and Library Hercules Powder Company Kinetic Chemicals Nemours Estate Remington Arms Savannah River Site Wilmington Trust Winterthur Museum, Garden and Library Conoco Consolidation Coal Company DuPont analysis DuPont v. Kolon Industries Du Pont Motors DuPont Building (incl. The Playhouse on Rodney Square, formerly the DuPont Playhouse) Chemours
Sponsorship	Tour DuPont Pioneer 250 Hendrick Motorsports Car No. 24 (NASCAR Cup Series career of Jeff Gordon) The DuPont Show with June Allyson DuPont Show of the Month
Category Commons

• Chemical companies of the United States
• Plastics companies of the United States
• Companies formed by merger
• American companies established in 2017
• Manufacturing companies established in 2017
• Companies based in Wilmington, Delaware
• Companies listed on the New York Stock Exchange
• Former components of the Dow Jones Industrial Average
• DuPont