Executive Briefings

DuPont, Dow Merger Said to Be on Track Despite Bad Year in Sales

DuPont Co. is leaving behind a forgettable 2015 as it prepares for its massive merger with Dow Chemical Co.

DuPont, Dow Merger Said to Be on Track Despite Bad Year in Sales

Wilmington, Del.-based DuPont on Jan. 26 released full-year financial results for 2015. Total sales for the year fell 11.5 percent to $25.1bn, as profit dropped 46 percent to just under $2bn.

Sales in DuPont’s Performance Materials unit — including nylon and other specialty resins — fell almost 12 percent to $5.3bn, although its operating earnings fell 4 percent to just over $1.2bn. Based on sales, Performance Materials was the second largest of DuPont’s six operating units in 2015, generating a 21 percent share, trailing only Agriculture.

“We are making progress on key initiatives, including further improving our cost structure,” Chairman and CEO Ed Breen said.

DuPont and Midland, Mich.-based Dow — another U.S.-based plastics and chemicals giant — announced their historic merger on Dec. 11. The combined firm then is expected to be split into three separate public companies — including one focused on materials — in the next 18-24 months.

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Wilmington, Del.-based DuPont on Jan. 26 released full-year financial results for 2015. Total sales for the year fell 11.5 percent to $25.1bn, as profit dropped 46 percent to just under $2bn.

Sales in DuPont’s Performance Materials unit — including nylon and other specialty resins — fell almost 12 percent to $5.3bn, although its operating earnings fell 4 percent to just over $1.2bn. Based on sales, Performance Materials was the second largest of DuPont’s six operating units in 2015, generating a 21 percent share, trailing only Agriculture.

“We are making progress on key initiatives, including further improving our cost structure,” Chairman and CEO Ed Breen said.

DuPont and Midland, Mich.-based Dow — another U.S.-based plastics and chemicals giant — announced their historic merger on Dec. 11. The combined firm then is expected to be split into three separate public companies — including one focused on materials — in the next 18-24 months.

Read Full Article

DuPont, Dow Merger Said to Be on Track Despite Bad Year in Sales