DuPont announces agreement to Divest Mobility & Materials Segment to Celanese
On February 18, 2022, DuPont announced that the company will fully divest the company's Mobility & Materials segment to Celanese, a company that provides and produces special chemical materials. The deal is set to help with Celanese operations related to providing special materials used in the production of chemicals and technology. DuPont also benefits from this by generating a sizable amount of capital for the company which will help the company focus on its main activities. The deal is set to be valued at $3.5 billion and is set to close by Q1 2023.
New Activity|StructuralIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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