SHANGHAI, Nov. 8, 2018 – DuPont announced today that it is investing more than $80 million to build a new manufacturing facility in Zhangjiagang, Jiangsu Province in East China. The new facility will produce compounded high-end engineering plastics and adhesives to serve customers in transportation, electronics, industrial and consumer products markets. The planned site is expected to become operational in 2020 with expansion through 2023.
DuPont leaders and Zhangjiagang government officials signed the deal at a ceremony in Shanghai at the China International Import Expo (CIIE).
The production facility, to be built at the Yangtze River International Chemical Industrial Park, will support growing demand for DuPont Transportation & Advanced Polymers (T&AP) business’ specialized materials. Investment in new compounding lines will be focused primarily on DuPont? Zytel? nylon engineering plastics, Delrin? acetal resins, Hytrel? thermoplastic polyesters, and Multibase? thermoplastic elastomers (TPEs), lubricants and specialty silicone materials. The site plans to include new?production lines for automotive adhesives, and intends to manufacture additional specialty products in the future, enabling it to be the first multi-business manufacturing facility in China for the new DuPont.
“This investment reinforces our commitment to China and the Asian market where we see strong growth potential across our businesses,” said Randy Stone, President of DuPont Transportation & Advanced Polymers. “Our new manufacturing facility will position us well to support anticipated growth in the automotive sector due to strong customer demand for our advanced polymers and solutions from end users such as electric and hybrid vehicle manufacturers.
This investment, in cooperation with the Zhangjiagang government, will enable us to continue to deliver innovative solutions that serve high-growth end uses in a cost-effective, responsive way, and strengthen our leadership position in these key application spaces globally.”
T&AP has significant manufacturing operations and R&D capabilities globally, in the United States and Canada, Latin America, Europe, Middle East and Africa, and in Asia Pacific, with the most recent investments announced for U.S. sites earlier this year.
About DuPont Transportation & Advanced Polymers
DuPont Transportation & Advanced Polymers (T&AP), a DowDuPont Specialty Products Division business, delivers a broad range of technology-based products and solutions to the transportation, electronics, industrial and consumer markets. T&AP partners with customers to drive innovation by utilizing its expertise and knowledge in polymer and materials science. T&AP works with customers throughout the value chain to enable material systems solutions for demanding applications and environments. For additional information, visit plastics.dupont.com.
DowDuPont Specialty Products Division
DowDuPont Specialty Products, a division of DowDuPont (NYSE: DWDP), is a global innovation leader with technology-based materials, ingredients and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, building and construction, health and wellness, food and worker safety. DowDuPont intends to separate the Specialty Products Division, which will be called DuPont, into an independent, publicly traded company. More information can be found at www.dow-dupont.com.
Cautionary Statement About Forward-Looking Statements
This communication contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “target,” and similar expressions and variations or negatives of these words.
On December 11, 2015, The Dow Chemical Company (“Dow”) and E. I. du Pont de Nemours and Company (“DuPont”) entered into an Agreement and Plan of Merger, as amended on March 31, 2017, (the “Merger Agreement”) under which the companies would combine in an all-stock merger of equals transaction (the “Merger”). Effective August 31, 2017, the Merger was completed and each of Dow and DuPont became subsidiaries of DowDuPont.
Forward-looking statements by their nature address matters that are, to varying degrees, uncertain, including the intended separation, subject to approval of the DowDuPont’s Board of Directors and customary closing conditions, of DowDuPont’s agriculture, materials science and specialty products businesses in one or more tax-efficient transactions on anticipated terms (the “Intended Business Separations”). Forward-looking statements are not guarantees of future performance and are based on certain assumptions and expectations of future events which may not be realized. Forward-looking statements also involve risks and uncertainties, many of which are beyond the DowDuPont’s control. Some of the important factors that could cause DowDuPont’s, Dow’s or DuPont’s actual results (including DowDuPont’s agriculture business, materials science business or specialty products business as conducted by and through Dow and DuPont) to differ materially from those projected in any such forward-looking statements include, but are not limited to: (i) costs to achieve and achieving the successful integration of the respective agriculture, materials science and specialty products businesses of DowDuPont (either directly or as conducted through Dow and DuPont, anticipated tax treatment, unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, productivity actions, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies for the management, expansion and growth of the combined operations; (ii) costs to achieve and achievement of the anticipated synergies by the combined agriculture, materials science and specialty products businesses; (iii) risks associated with the Intended Business Separations, associated costs, disruptions in the financial markets or other potential barriers; (iv) disruptions or business uncertainty, including from the Intended Business Separations, could adversely impact DowDuPont’s business (either directly or as conducted by and through Dow or DuPont), or financial performance and its ability to retain and hire key personnel; (v) uncertainty as to the long-term value of DowDuPont common stock; and (vi) risks to DowDuPont’s, Dow’s and DuPont’s business, operations and results of operations from: the availability of and fluctuations in the cost of feedstocks and energy; balance of supply and demand and the impact of balance on prices; failure to develop and market new products and optimally manage product life cycles; ability, cost and impact on business operations, including the supply chain, of responding to changes in market acceptance, rules, regulations and policies and failure to respond to such changes; outcome of significant litigation, environmental matters and other commitments and contingencies; failure to appropriately manage process safety and product stewardship issues; global economic and capital market conditions, including the continued availability of capital and financing, as well as inflation, interest and currency exchange rates; changes in political conditions, including trade disputes and retaliatory actions; business or supply disruptions; security threats, such as acts of sabotage, terrorism or war, natural disasters and weather events and patterns which could result in a significant operational event for the DowDuPont, adversely impact demand or production; ability to discover, develop and protect new technologies and to protect and enforce the DowDuPont’s intellectual property rights; failure to effectively manage acquisitions, divestitures, alliances, joint ventures and other portfolio changes; unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as management’s response to any of the aforementioned factors. These risks are and will be more fully discussed in the current, quarterly and annual reports filed with the U. S. Securities and Exchange Commission by DowDuPont as well as the preliminary registration statements on Form 10, in each case as amended from time to time, of each of Dow Holding Inc. and Corteva, Inc., While the list of factors presented here is, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on DowDuPont’s, Dow’s, DuPont’s, Dow Holding Inc.’s or Corteva Inc.’s consolidated financial condition, results of operations, credit rating or liquidity. None of DowDuPont, Dow, DuPont Dow Holding Inc. or Corteva, Inc. assumes any obligation to publicly provide revisions or updates to any forward-looking statements whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements is included in the section titled “Risk Factors” (Part I, Item 1A) of the 2017 annual reports on Form 10-K of each of DowDuPont, Dow and DuPont and as set forth in the preliminary registration statements on Form 10, in each case as amended from time to time, of each of Dow Holdings Inc. and Corteva, Inc.
# # #
The DuPont Oval Logo, DuPont?, and all products denoted with ? are trademarks or registered trademarks of E.I. du Pont de Nemours and Company or its affiliates.