DuPont to Sell Glass Laminating, Vinyls Unit

DuPont Co. (DD) agreed to sell its glass laminating and vinyls business to specialty chemicals company Kuraray Co. (3405.TO) for $543 million, as the chemicals and materials giant continues to try refocusing itself to higher growth areas.

The business, which is part of DuPont's packaging and industrial polymers division, supplies sheets for safety glass and polyvinyl alcohol products used in architectural, automotive and industrial applications. The unit had 2012 sales of more than $500 million and has about 600 employees, with six manufacturing sites in the U.S., Europe and Asia.

The deal is expected to close in the first half of next year.

DuPont has been working to move away from lower growth commodity businesses toward higher growth areas, including nutritional products and agriculture. As part of this effort, the company last month said it is spinning off its performance chemicals business, which is best known for the materials in nonstick frying pans and house paints. Earlier this year it completed the sale of its performance coatings business, which included paints for the automotive industry, to Carlyle Group L.P. (CG) for $4.9 billion.

DuPont isn't alone in considering asset sales and spinoffs to focus on higher-growth businesses. Recently, Dow Chemical Co. (DOW) CEO Andrew Liveris told analysts on a conference call that its epoxy business faces stiff competition from low cost operators and that it might make more sense for the business to be part of a joint venture or spun off.

DuPont shares closed Wednesday at $60.79 and were inactive premarket. The stock is up 35% so far this year.

Write to Ben Fox Rubin at [e-mail]

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