DuPont and Rhodia Sign Agreement for Sale of
Rhodia's ISCEON(R) HFC Refrigerant Blends Business
Friday June 24, 10:00 am ET
WILMINGTON, Del., and PARIS, June 24 /PRNewswire-FirstCall/ -- DuPont and Rhodia today announced the signing of an agreement by which DuPont plans to purchase the ISCEON® hydrofluorocarbon (HFC) refrigerant blends business from Rhodia, pending regulatory approvals. The transaction will likely be finalized sometime in the third quarter. The ISCEON® range of refrigerants comprises non-ozone-depleting blends used as a replacement for ozone depleting refrigerants in air conditioning, cold storage, domestic refrigeration and process cooling
"This acquisition will enlarge our HFC product portfolio, and enable us to offer customers additional sustainable refrigerant solutions to accelerate the reduction of ozone depleting substances around the world," said Mark Baunchalk, global business manager - refrigerants, DuPont Fluorochemicals. "DuPont has been a pioneer in the science of refrigerants for 75 years and is committed to continue developing science and technology to bring more sustainable cooling and environmental solutions to customers around the world. This acquisition supports that effort and will strengthen our business."
"This transaction, marking a further step in the strategic refocusing of Rhodia Organics' Enterprise, forms part of the divestiture of non-strategic activities being undertaken by the Rhodia Group with a view to consolidating its business portfolio," added Laurent Schmitt, president of the Rhodia Organics Enterprise.
Rhodia will continue to manufacture and sell refrigerant R-22 from its Avonmouth facility in the United Kingdom.
DuPont Fluorochemicals is a global supplier of refrigerants, using science and technology, market knowledge and global reach to provide sustainable materials and solutions to enhance personal comfort, enable food preservation, improve industrial processing and reduce environmental footprints. For more information, please visit http://www.dupont.com/suva/ .
Rhodia is a global specialty chemicals company recognized for its strong technology positions in applications chemistry, specialty materials and services, and fine chemicals. Partnering with major players in the automotive, electronics, fibers, pharmaceuticals, agrochemicals, consumer care, tires, and paints and coatings markets, Rhodia offers tailor-made solutions combining original molecules and technologies to respond to customers' needs. Rhodia subscribes to the principles of Sustainable Development communicating its commitments and performance openly with stakeholders. Rhodia generated net sales of 5.3 billion euros ($6.9 billion) in 2004 and employs 20,000 people worldwide. Rhodia is listed on the Paris and New York stock exchanges. For further information, consult our website: http://www.rhodia.com .
DuPont is a science company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture, nutrition, electronics, communications, safety and protection, home and construction, transportation and apparel.
Forward-Looking Statements: This news release contains forward-looking statements based on management's current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects," "anticipates," "plans," "intends," "projects," "indicates," and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by DuPont, particularly its latest annual report on Form 10-K and quarterly report on Form 10-Q, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw materials, research and development of new products, including regulatory approval and market acceptance; and seasonality of sales of agricultural products.
The DuPont Oval, DuPont(TM), The miracles of science(TM), and Suva® are registered trademarks or trademarks of DuPont or its affiliates. ISCEON® is currently a registered trademark of Rhodia.
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