DuPont to spin off Performance Chemicals Unit; expands China R&D center

The tax-free spinoff is targeted to be completed in 18 months, and will led to DuPont investors owning the Performance Chemicals unit. The company anticipates costs from the transaction will be 1 cent to 2 cents a share in the fourth quarter.

DuPont first said in July it might spin off the unit because of volatile earnings. The business unit is presently the world’s biggest producer of titanium dioxide, a white pigment used in paint. It also produces cyanide, Freon refrigerants and Teflon coating for nonstick pans.

DuPont also announced the opening of the second phase of its China Research and Development Center.  With this expansion, the DuPont China R&D Center adds 17,500 square meters and will house an additional 150 researchers, focusing on new material applications in solar energy, bio-based materials and automotive materials and testing capabilities.

The DuPont China R&D Center plays an important role in the company’s global business strategy, delivering innovative offerings to meet local market needs since its opening in 2005.  As one of the company’s major R&D facilities outside the United States, the DuPont China R&D Center currently provides technical expertise to customers in this region and globally for research, application development, training, technology transfer, and sales of DuPont technologies and products.  This center also enables technological exchanges and research collaborations between DuPont and its partners including leading Chinese and Asian universities and research institutions.