Under the plan, DuPont will spin off its Water and Electronics businesses, with New DuPont continuing as a diversified industrial company.
Dupont says as independent entities, both Water and Electronics will benefit from increased focus and agility in their respective industries.
Water will be comprised of DuPont's current Water Solutions line of business which generated net sales of approximately US$1.5 billion in 2023. The portfolio of water filtration and purification solutions covers reverse osmosis, ion exchange and ultrafiltration across a variety of market segments including industrial water and energy, life sciences and specialties, municipal and desalination, and residential and commercial.
Electronics will be a global provider of electronics materials including semiconductor solutions and advanced electronics products and will include the existing Semiconductor Technologies and Interconnect Solutions lines of business, as well as the electronics-related product lines from Industrial Solutions.
New DuPont will be comprised of the existing businesses within the Water & Protection segment (excluding Water Solutions), the majority of businesses within Industrial Solutions (including healthcare), and the retained businesses reported in Corporate (including adhesives).
DuPont expects to complete the separations within 18 to 24 months.
"This is an extraordinary opportunity to deliver long-term, sustainable shareholder value through the creation of three strong, industry-leading companies," said Ed Breen, DuPont executive chairman and CEO. "The three-way separation will unlock incremental value for shareholders and customers and also create new opportunities for employees. Critically, each company will have greater flexibility to pursue their own focused growth strategies, including portfolio enhancing M&A."
DuPont chief financial officer Lori Koch will succeed Breen as CEO effective 1 June 2024. Breen will retain his role of executive chairman.
