DuPont will purchase The Dow Chemical Company's remaining equity interest in the companies' joint venture DuPont Dow Elastomers (DDE) for $87 million once Dow exercises an option to acquire certain assets of the company. The assets will primarily relate ethylene and chlorinated elastomers, including assets of the Engage, Nordel and Tyrin businesses.
DuPont had previously announced in April that Dow and DuPont had executed several agreements relating to the future management of DDE. As part of those agreements, Dow was granted the option to acquire certain assets relating to ethylene and chlorinated elastomers.
DuPont Dow Elastomers LLC, a global supplier of specialty elastomers with headquarters in Wilmington, DE, has approximately $1.2 billion in sales. The company is a leader in chloroelastomers, ethylene elastomers and fluorinated elastomers, serving the automotive, chemical, construction, general rubber, plastics and wire and cable industries.