October 25, 2013
Dear Valued Customer:
On Thursday October 24th, DuPont announced it will execute the full separation of its Performance Chemicals segment, which includes the Titanium Technologies and Chemicals & Fluoroproducts businesses. This is the outcome of the strategic evaluation that was announced publicly on July 23rd. We greatly value our relationship with your company and we wanted to contact you directly about this announcement.
With the separation of these two business units into one new performance chemicals company, DuPont advances its ongoing strategic mission as a high growth science company focusing its integrated science to better serve agriculture and nutrition, industrial biosciences and selected advanced materials markets worldwide.
At the same time, this move will result in the creation of an exciting new performance chemicals company with more than $7 billion in annual revenues (2012 data) and a strong balance sheet. The newly formed company will be a global leader in white pigments, fluorochemicals, fluoropolymers and a number of industrial chemical segments. We are excited to continue to combine the strong core values and science orientation of our DuPont heritage with a sharper focus on these specialty chemical markets moving forward.
Your partnership with us remains our obvious top priority. We will continue to deliver a great customer experience and create shareholder value through industry-leading products and differentiated positions in key markets. We are convinced this move will make us an even stronger and more attractive partner for your business.
To be clear, there is no change to your existing relationship with DuPont while this separation process is completed. We expect that this process will take about 18 months and we will communicate with you further as this process unfolds. Please note that work to prepare for the separation will begin immediately and that completion of this process is subject to regulatory approvals and a tax ruling.
Again, let me emphasize that there will be no changes in our day-to-day operations or in your points of contact as we prepare for this separation. We are committed to keeping you informed as we move forward. Should you have any questions regarding this announcement, please do not hesitate to contact me.
We appreciate your business and we look forward to continuing to serve you as a trusted partner.
Douglas E. Johnston
Director – NA Sales & Marketing