First-half merger and acquisition deals in plastic materials were capped off by DuPont Co. making a major downstream move into plastic products by acquiring Spectrum Plastics Group for $1.75 billion.
Market analysts contacted by Plastics News, a Rubber News sister publication, said that DuPont should benefit from its acquisition of Spectrum Plastics, although there was a chance that the deal could put the firm in competition with some of its customers.
Market analysts contacted by Plastics News said that DuPont should benefit from its acquisition of Spectrum Plastics, although there was a chance that the deal could put the firm in competition with some of its customers.
By Rebecca Trager2021-01-28T13:39:00+00:00
DuPont and its spin-offs Chemours and Corteva have reached a $4 billion cost-sharing agreement to settle a dispute over liabilities associated with the company’s historic use of per- and polyfluoroalkyl substances
(PFASs), a notorious group of man-made chemicals that are persistent, highly mobile and bioaccumulative. These substances, which have contaminated waterways and drinking water across the US and the world, are associated with serious human health and environmental problems.
Under the arrangement, announced on 22 January, expenses will be split 50–50, with DuPont and Corteva covering half and Chemours being responsible for the other half. The three companies will share the costs of ‘certain qualified expenses’ over a period of no more than 20 years or $4 billion. They will also establish a $1 billion escrow account to address potential future liabilities related to PFAS contamination, with contributions being made annual
Agriculture
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January 25, 2021
On Friday, three agricultural chemical companies, DuPont de Nemours, Corteva, and The Chemours Company, announced that they entered a memorandum of understanding including a $4 billion settlement regarding their use of “forever chemicals,” toxic chemicals also known as per- and polyfluoroalkyl substances (PFAS).
PFAS chemicals are used to create non-stick or waterproof items as well as carpet, fabric, and firefighting foam. As a result, they are prevalent in some environments and allegedly can cause lasting harm because of their longevity. The legal dispute against these companies reportedly began when Chemours split from DuPont in 2015.
According to the companies’ press release, the agreement replaces a February 2017 settlement and an amendment to the separation agreement between Chemours and DuPont. DuPont and Corteva agreed to pay 50 percent of the expenses and Chemours will pay the other 50 percent. The parties agreed to m