DuPont Engineering Polymers Acquires High Performance Plastics Business from Eastman

06-Mar-2003

DuPont Engineering Polymers has acquired the high-performance crystalline plastics business from Eastman Chemical Company, it was announced here jointly by the two companies. The business includes Eastman's Titan LCP, a liquid crystal polymer, Thermx PCT, a family of polycyclohexylene dimethyl terephthalate products and Thermx EG series of reinforced PET thermoplastic polyester resins used in automotive, electrical/electronics and other industries.

DuPont is acquiring the technology rights and other business intellectual property, including formulations and marketing information, but not including physical assets or any transfer of people. Specific terms of the acquisition were not disclosed.

"The acquisition fits well with the current DuPont offering in the automotive and electrical/electronics industries where DuPont has a major stake, and the businesses can be quickly and fully integrated into our operations," said Terry Caloghiris, vice president and general manager, DuPont Engineering Polymers. "At the same time, the acquisition complements the capability of DuPont to meet its customers requirements for high-performance materials in applications that demand ever-increasing temperature resistance and dimensional stability."

"Our high temperature crystalline business has demonstrated good success for Eastman," said Dr. Phillip Griswold, vice president and general manager of Eastman's Specialty Plastics business. "Although we have good technology, we have a limited market presence in the markets that represent the best growth opportunities for these products going forward. Our strategy is to shift our resources to more fully concentrate on our market strengths. Our focus will be on the medical, durables, consumer and specialty packaging markets for which we provide amorphous copolyesters and cellulosics."

Griswold said Eastman will continue to supply DuPont with PCT polymer for the Thermx business. "These materials are known for their ability to perform under high temperatures that are so critical in automotive and electronics uses," Griswold said.

https://www.chemeurope.com/en/news/21140/dupont-engineering-polymers-acquires-high-performance-plastics-business-from-eastman.html