DuPont Completes Acquisition of MECSWilmington
January 3, 2011, Wilmington, Delaware
Strengthens DuPont Clean Technologies Portfolio, Provides Access to Additional High-Growth Markets
DuPont has completed its purchase of MECS from affiliates of American Securities LLC. The previously announced transaction strengthens the DuPont clean technologies portfolio and will provide access to additional high-growth markets, particularly in developing regions such as Asia Pacific, the Middle East and Africa.
Per the agreement, MECS becomes a wholly owned subsidiary of DuPont and part of the company’s Sustainable Solutions business effective Dec. 31, 2010. Terms of the agreement were not disclosed.
“We are pleased to begin 2011 by welcoming MECS into DuPont Sustainable Solutions,” said James R. Weigand, president – DuPont Sustainable Solutions. “This acquisition enables us to diversify our clean technologies portfolio in significant ways. As a result, we estimate an increase in the addressable market for our clean air and clean fuel offerings from approximately $200 million to $1 billion. This action also is aligned with our corporate goals that call for using our science and technology to protect people and the environment and to address the needs of developing regions.”
MECS (http://www.mecsglobal.com/), headquartered in St. Louis, Mo., is a leading global provider of process technology, proprietary specialty equipment and technical services for sulfuric acid producers. Its offerings help customers – primarily in the fertilizer, non-ferrous metals, petroleum refining and chemical industries – reduce air emissions, improve operational efficiencies, and lower energy use. In addition to its widely recognized sulfuric acid offerings, MECS produces air pollution control scrubbing systems and mist eliminators for reducing particulate emissions in a variety of industries. It also is an industry leader in proprietary heat recovery systems that generate carbon-neutral energy from sulfuric acid plants.
“Joining DuPont will provide growth opportunities as we share expertise and resources, integrate complementary offerings and collaborate in the development of new technologies,” said MECS CEO Nick Bhambri. “We are proud to be a part of DuPont and excited about the future with DuPont Sustainable Solutions.”
DuPont Sustainable Solutions offers collaborative consulting and solutions-driven technologies and services that help organizations transform their workplaces and work cultures to become safer, more efficient and more environmentally sustainable. Its offerings are grouped into four practice areas: Safety Resources, Sustainable Operations, Clean Technologies, and Training Solutions.
DuPont (www.dupont.com) is a science-based products and services 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 90 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.
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; seasonality of sales of agricultural products; and severe weather events that cause business interruptions, including plant and power outages, or disruptions in supplier and customer operations. The company undertakes no duty to update any forward-looking statements as a result of future developments or new information.
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