WILMINGTON, Del.—DuPont Co. is consolidating two of its plastics-related units into a single business.
As of Jan. 1, DuPont's Performance Polymers unit will merge with Packaging & Industrial Polymers. Wilmington-based DuPont also is merging its Protection and Building Innovations units.
“By bringing these business units together under common management structures, we are creating business of more significant scale to better serve our customers,” interim Chairman and CEO Edward Breen said in a Nov. 2 news release.
DuPont Performance Polymers includes nylon, acetal and polybutylene terephthalate resins, as well as thermoplastic elastomers and biopolymers. Packaging & Industrial Polymers includes polymer modifers and additives and specialty resins used in adhesives, barriers, sealants and peelable lidding, as well as the DuPont Teijin Films business.
DuPont Teijin ranks as North America's fifth largest film and sheet business, according to a recent ranking in Plastics News, a sister publication of Rubber & Plastics News, with estimated sales of almost $1.4 billion in 2014.
The businesses had been the two parts of DuPont's Performance Materials unit. That entire unit now will be led by Patrick Lindner, who has run the Performance Polymers unit since 2014 and who has been with DuPont since 1996.
Packaging & Industrial Polymers head William Harvey—a 38-year company veteran who has led that unit since 2009—will remain in that role through the end of the year. A company spokesman said no information was available as to Harvey's position beyond that point.
The spokesman added that the merger of the two units will causes some roles to be eliminated, but the number of affected jobs has not been determined.
DuPont—one of the world's largest plastics and chemicals makers—continues to deal with the fallout of a lengthy proxy war with activist investor Trian Fund Management L.P. and its founder Nelson Peltz. DuPont won that fight in May—retaining control of its board—but it still played a role in the Oct. 16 resignation of CEO Ellen Kullman.
During that proxy fight, DuPont named Breen and James Gallogly to the board. Breen previously led Tyco International out of bankruptcy. Gallogly had been CEO of polyolefins leader LyondellBasell Industries.