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Delaware panel approves nearly USD10M in incentives for DuPont

March 10/2016

MOSCOW (MRC) -- DuPont will receive nearly USD10 million from the state as part of a deal that'll keep two of its spin-off businesses in Delaware after its proposed merger with Dow, said Chicagotribune.

The Delaware Economic Development Office's volunteer Council on Development Finance approved the USD9.6 million in grants from the strategic fund on Monday.

DEDO spokeswoman Christina Dirksen says the investment will keep 1,700 jobs in the state.

The incentives helped a February deal that sought to keep DuPont's agricultural and specialty products businesses in Delaware after the company becomes DowDupont. The merger still awaits regulatory approval.

The USD9.6 million grant includes USD6 million in matching funds to reimburse the companies for up to 3 percent of capital expenditures, up to USD200,000. Up to USD3.6 million is allotted as a job retention grant.

As MRC informed earlier, DuPont and The Dow Chemical Company in February 2016 announced the U.S. site structure for the global agriculture leader the companies intend to create following the planned separation of DowDuPont into three independent, publicly traded companies.

DuPont is an American chemical company that was founded in July, 1802. The company manufactures a wide range of chemical products, leading extensive innovative research in this field. The company is the inventor of many unique plastics and other materials, including neoprene, nylon, Teflon, Kevlar, Mylar, Tyvek, etc. DuPont was the developer and main producer of Freon used in the production of refrigeration equipment.


mrcplast.com
Author:Anna Larionova
Tags:dioksid titana, fertilizers, petrochemistry, coatings, Dow, DuPont, USA.
Category:General News
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