(Chemical Week) -- DuPont reports of investments that the company are making in all its divisions keep on delivering results which are offset by the weakness in titanium dioxide (TiO2) markets.
"While we are seeing indications that market conditions are firming up in some areas, volatility and uncertainty also persist," says DuPont chair and CEO Ellen Kullman. "Investments we are making in agriculture and nutrition, industrial biosciences and advanced materials continue to deliver results offset by the weakness in titanium dioxide (TiO2) markets." Excluding the performance chemicals unit, which includes TiO2, the company expects earnings growth of at least high-teens in 2013 versus 2012, DuPont says. Performance chemicals margins are expected to fall six to seven percentage points in 2013, DuPont says.
According to Thomson Reuters, DuPont expects full-year 2012 earnings from continuing operations to be at the high end of previous guidance of USD3.25 -USD3.30/share and 2013 earnings to grow up to 13%, to USD3.70/share on global economic growth, which is expected to remain modest in 2013, according to DuPont estimates. DuPont expects global GDP growth of about 2% in 2013, says executive v.p. and CFO Nicholas Fanandakis.
We remind that, as MRC informed previously, earlier this year DuPont Co. struck a deal to sell its car paint business to Washington-based investment firm Carlyle Group LP for USD4.9 billion. The transaction is expected to close in the first quarter of 2013.
MRC