Nov. 16, 2014, 5:44 AM
- Four workers died and a fifth was hospitalized on Saturday due to a chemical leak at a DuPont (NYSE:DD) plant near Houston.
- The chemical, methyl mercaptan, is a liquid when contained, but becomes a gas when it is released and mixes with oxygen.
- "Our focus at the moment is solely on the employees and the family members," says spokesman Aaron Woods. "But as we move past that we will begin a full investigation to understand what went wrong and what we need to do to prevent this from ever happening again."
Oct. 29, 2014, 2:48 PM
- Bayer (OTCPK:BAYZF, OTCPK:BAYRY) says its crop science unit agrees to acquire certain crop protection and land-management assets from DuPont (DD -1.7%) for an unspecified amount.
- The deal will enable Bayer to offer a broad range of products for weed control for farming, and will provide access to the growing forestry and range and pasture business segments in North America.
- DuPont will continue to sell its land management products outside of the five countries where the assets are located: the U.S., Canada, Mexico, Australia and New Zealand.
Oct. 28, 2014, 2:39 PM
- DuPont (DD +0.3%) CEO Ellen Kullman defends the company's diverse portfolio of businesses, pointing out the "competitive advantages" in developing seeds for farmers, plastics for car makers and a host of other products.
- "There is a lot of power in being able to deliver greater capability to [customers] than in being very narrow," Kullman says in her first public comments on the campaign by activist investor Nelson Peltz to break the company in two.
- "Our current capital structure provides us with important financial flexibility we need to pursue strategic growth opportunities in light of regional and highly seasonal agricultural cash flows," the CEO said in the company's earnings conference call.
- Kullman also says DuPont and Peltz are aligned in focusing on cutting costs, citing $2B in expense reductions during the past five years with plans to cut another $1B by 2020.
- Earlier: More on DuPont's Q3 results
Oct. 28, 2014, 7:09 AM
- Net income of $433M vs. $285M in the same quarter a year ago. Operating earnings per share of $0.54 vs. $0.45 per share last year.
- Operating earnings by segment: Agriculture +11%; Electronics & Communications -3%; Industrial Biosciences +4%; Nutrition & Health +23%; Performance Chemicals -5%; Performance Materials +1%; Safety & Protection +18%; Other +22%.
- The company backed its full-year operating earnings outlook of $4.00-$4.10 per share and expects its Q4 operating EPS to grow about 20% from $0.59 per share in the year-earlier period.
- Q3 results
Oct. 28, 2014, 6:01 AM| 2 Comments
Oct. 27, 2014, 5:30 PM
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Oct. 23, 2014, 11:23 AM| Comment!
Oct. 21, 2014, 10:51 AM
- Honeywell (HON +2.1%) and DuPont (DD +1.4%) were sent a statement of objections by EU regulators for violating antitrust rules over a global refrigerant for car air conditioners.
- "The cooperation they entered into in 2010...may have limited its (the refrigerant's) availability and technical development, in breach of EU antitrust rules," the European Commission said in a statement.
- The car-coolant (R-1234yf) is the only chemical that currently meets new EU standards on greenhouse-gas emissions.
- Responding to the claim, Thierry F.J. Vanlancker, President of DuPont Chemicals & Fluoroproducts, says "DuPont has complied at all times with applicable laws...and we plan to defend vigorously against the Commission's allegations and preliminary conclusions. We will fight this every step of the way, as it has no basis in law or fact."
Oct. 8, 2014, 8:27 AM
- Despite criticism from activist investor Nelson Peltz, DuPont (NYSE:DD) says a $500M bet on producing ethanol from corn crop waste will pay off as demand for the renewable fuel increases.
- Peltz previously smeared the cellulosic ethanol plant as an example of the company's "speculative and expensive corporate science projects" that have "destroyed shareholder value." The Iowa facility will be completed in the coming months.
- "This plant will make money," says William Feehery, president of the industrial biosciences unit. "We put a lot of time and R&D money into this."
Sep. 18, 2014, 10:00 AM| 4 Comments
Sep. 17, 2014, 9:10 AM
- DuPont (NYSE:DD) responds to Trian Fund Management's call for a breakup of the company, saying it had engaged in a "constructive dialogue" with the activist investor.
- DuPont's board says it is intent on executing on a plan that includes cutting costs by $1B, separating its performance chemicals business and buying back $5B worth of shares; cites shareholder returns of 220% vs. 144% for the S&P 500 since year-end 2008.
- DD +3.3% premarket.
Sep. 17, 2014, 4:26 AM
- Activist investor Trian Fund Management is seeking public support to force DuPont (NYSE:DD) to break itself up, after more than a year of unsuccessful private efforts.
- Trian says Dupont's overly complex corporate structure is a large weight for the company's seven business lines, and makes it difficult for investors and the company to assess their prospects.
- As it launches its new campaign, Trian says its plan would cut annual costs by $2B-$4B.
Sep. 16, 2014, 7:17 AM| 1 Comment
Sep. 3, 2014, 6:57 PM
- DuPont (NYSE:DD) and Atlantic Richfield agree to pay ~$26M in a settlement with the EPA and the state of Indiana for a cleanup of lead and arsenic contamination in parts of an East Chicago, Ind., neighborhood.
- According to the EPA and Justice Department, yards in the area were contaminated through industrial operations from at least the early 1900s through 1985; lead smelting and refining, as well as other manufacturing processes that used lead and arsenic, were located on and near the area that became the Calumet neighborhood.
Sep. 2, 2014, 9:56 AM| 1 Comment
Sep. 2, 2014, 7:10 AM
- Dupont (NYSE:DD) has sold its 67% stake in its polymers joint venture, Speciality Polymers Antwerp, to minority partner Borealis.
- Under the terms of the deal, DuPont will continue to provide ethylene vinyl acetate and acrylate copolymers and Borealis will supply DuPont with ethylene vinyl acetate and acrylate copolymers from the facility.
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E I du Pont de Nemours & Company is a science and engineering company that offers products and patents applications for agriculture, nutrition, electronics and communications, safety and protection, home and construction, transportation and apparel.
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