6 Nov 21
News

Dupont expands auto industry reach through US$7.5bn acquisitions

The automobile industry is evolving, and industrial engineering and chemical company DuPont wants to be part of it, announcing - this year - plans for two acquisitions which sum up to US$7.5 billion.

This week (Nov 2), the company announced that it is planning to acquire engineering materials maker Rogers Corp. for approximately US$5.2 billion. DuPont also acquired Laird Performance Materials earlier this year in a US$2.3 billion deal.

While the Rogers acquistion will help Dupont tap further into electric vehicles (EV), advanced automobile electronics, 5G mobile phone, and clean energy, the Laird Performance deal supports in the development of advanced electronic materials for autonomous vehicles.

To help fund the purchase of Rogers, DuPont intends to sell most of its Mobility and Materials unit of which the company expects some US$4.2 billion in sales in 2021, Automotive News reported. As the sell-off could take as much as six months, the Rogers acquisition will likely be finalized in the second semester of 2022.

DuPont joined Dow Chemical in 2017, creating the company DowDuPont.

Authored by: Daniel Bland