DuPont (NYSE:DD) is nearing an agreement to sell its Delrin resins unit for about $1.8 billion to the Jordan Company.
The chemical company may announce a sale of the unit as soon as this week, according to a Bloomberg report on Sunday, which cited people familiar with the matter. No final decision has been reached, so a deal may not come to fruition.
A deal may come after Bloomberg reported earlier this month that Lone Star Funds and Platinum Equity were vying to buy the Delrin resins unit of DuPont (DD). The price was said to be around $2 billion.
Delrin is a kind of plastic that can substitute for metal in products including mechanical gears and zip fasteners.
A divestiture would be another step in Executive Chairman Ed Breen’s efforts to refocus the chemical maker on electronics, automotive and water and industrial technologies.
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