DuPont consolidating plastics businesses
DuPont Company – one of the world’s largest chemical makers – is consolidating two of its plastics-related units into a single business.
The company has merged its Packaging & Industrial Polymers segment with its Performance Polymers counterpart and also named Patrick Lindner as president of the consolidated Performance Materials business.
DuPont has also combined its Protection Technologies and Building Innovations businesses, with Rose Lee heading up the new Protection Solutions section.
“By bringing these business units together under common management structures, we are creating businesses of more significant scale to better serve our customers with more powerful science capabilities and stronger applications development,” DuPont interim chief executive Edward Breen said in a statement. “At the same time, this will lead to more effective deployment of capital in these businesses, while capturing savings in our cost structure and driving greater value for our shareholders.”
Both consolidations will be effective on January 1, 2016.