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Private equity consortium to acquire DuPont Clean Technologies

February 03/2021

MOSCOW (MRC) -- A consortium of private equity firms, including BroadPeak Global, Asia Green Fund, and Saudi Arabias Dussur, says it has agreed to acquire DuPonts 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 companys 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.
Author:Margaret Volkova
Tags:Asia, Europe, PE, crude and gaz condensate, HDPE, nonwovens, petrochemistry, DuPont, Luxembourg, Russia, Saudi Arabia, USA.
Category:General News
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