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MOSCOW (MRC) -- A consortium of private
equity firms, including BroadPeak Global, Asia Green Fund, and Saudi Arabia’s
Dussur, says it has agreed to acquire DuPont’s Clean Technologies business for
USD510 million, reported Chemweek.
DuPont Clean Technologies is a maker of fuel and pollution control
catalysts, with a focus on sulfur removal applications for transportation and
industry. The deal is expected to close in the second quarter of this
year.
“DuPont Clean Technologies is a leader in the sulfuric acid,
alkylation, and scrubbing sectors, with world-class products and aftermarket
services,” says Nadim Qureshi, co-founder and managing partner at BroadPeak
Global. “We intend to build on this strong foundation and further expand the
business with the support of management and our strategic
partners.”
DuPont Clean Technologies’ products can “play an instrumental
role in helping countries across the world and particularly Asia Pacific tackle
environmental issues, push toward carbon neutrality, reduce pollution from
mining, oil refining, and chemical industries and upgrade fuel quality,” says Bo
Bai, chairman and CEO of Asia Green Fund.
Eli Ben-Shoshan, global
business director of DuPont Clean Technologies, will become the independent
company’s CEO when the deal closes.
Tensile Capital Management (San
Francisco, California) is providing equity financing for the deal, while Credit
Suisse is providing debt financing. Clearview Partners acted as financial
advisor to DuPont on the deal, while Ballard Spahr acted as legal
advisor.
As MRC wrote previously,
in January, 2021, Chilean oil refiner ENAP Refinerias S.A. selected BELCO
scrubbing technology, licensed by DuPont Clean Technologies (DuPont), to improve
emissions control from its 31,449 BPSD fluid catalytic cracking (FCC) unit at
the Aconcagua refinery.
We remind that DuPont is investing USD400
million in the production capacity of Tyvek nonwoven fabric made from high
density polyethylene (HDPE) at its site in Luxembourg. A new building and a
third work line at the production site will be constructed. The launch of new
facilities is scheduled for 2021.
According to MRC's ScanPlast report,
November estimated HDPE consumption in Russia rose to 125,950 tonnes from 58,330
tonnes a month earlier. ZapSibNeftekhim reduced its export polyethylene (PE)
sales. Overall HDPE shipments to the Russian market totalled 1,096,510 tonnes in
the first eleven months of 2020, up by 5% year on year. Production and exports
grew significantly, whereas imports fell by 31%.
The DuPont Corporation,
founded in the USA in 1802, operates in more than 70 countries. The company
produces specialty chemicals, offers goods and services for agriculture, food
production, electronics, communications, security and protection, construction,
transport and light industry. In Russia, DuPont has 100% control over the DuPont
Khimprom plant since 2005, and in 2006 established a joint venture between
DuPont - Russian Paints and Russian Paints. |
