DuPont to Consolidate Business Within Two Units

Reuters

Chemicals and seed maker DuPont (NYSE:DD) said it would consolidate some businesses within two units - one that makes nylon and polyster and another that makes materials such as Kevlar.

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DuPont said it would combine its protection technologies and building innovations businesses within its protection technologies division.

The combined business, DuPont Protection Solutions, will be led by Rose Lee, who currently heads the company's protection technologies unit.

DuPont will also merge its packaging & industrial polymers and performance polymers businesses in its performance materials unit.

The business will be led by Patrick Lindner, who is now head of performance polymers.

DuPont will continue to have six reporting segments and the consolidation will be effective Jan 1.

The consolidation comes less than a month after Edward Breen took over as the company's interim chief executive, following Ellen Kullman's retirement on Oct. 5.

DuPont shares were up 0.7 percent at $63.82 in morning trading on Monday.

(Reporting by Sneha Banerjee in Bengaluru; Editing by Savio D'Souza)