AKRON (July 1)—Today marks the official start of business for DuPont Performance Elastomers and an enlarged Dow Specialty Plastics and Elastomers, reflecting the dissolution of DuPont Co.´s and Dow Chemical Co.´s DuPont Dow Elastomers joint venture.
DuPont Performance Elastomers takes over the Neoprene polychloroprene rubber, Hypalon chlorosulfonated polyethylene, Kalrez perfluoroelastomer and Viton fluoroelastomer businesses. Dow´s Specialty Plastics and Elastomers business will now incorporate the Engage polyolefin elastomer, Nordel EPDM and Tyrin chlorinated polyethylene product line, including plants for ethylene elastomers and Tyrin products in Freeport and Seadrift, Texas; Plaquemine, La.; and Stade, Germany.
DuPont and Dow Chemical Co. formed the venture in 1996, but DuPont agreed earlier this year to buy 100-percent control of DuPont Dow for $87 million after Dow exercised its option to buy assets from the venture relating to ethylene and chlorinated elastomers.
The changes relate to an agreement the partners reached last April after DuPont Dow disclosed it was being investigated for price-fixing related to EPDM. The activities being split between the two companies represent about $600 million in annual sales each, the firms said.
DuPont Dow´s current president and CEO, Jack Lewis, will continue in that role for DuPont Performance Elastomers. DuPont Performance Elastomers will seek growth through the expansion of its current businesses, new innovations and developments with customers in emerging markets such as China, Lewis said.