DuPont Engineering Polymers Acquires an Eastman Plastics Business
Mar 5, 2003
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DuPont Engineering Polymers has acquired the high-performance crystalline plastics business from Eastman Chemical Company, both companies announced today. The business includes Eastman's Titan(R) LCP, a liquid crystal polymer, Thermx(R) PCT, a family of polycyclohexylene dimethyl terephthalate products, and Thermx(R) EG series of reinforced PET thermoplastic polyester resins used in automotive, electrical/electronics, and other industries.
DuPont is acquiring the technology rights and other business intellectual property, including formulations and marketing information, but not including physical assets or any transfer of people. Specific terms of the acquisition were not disclosed.
"The acquisition fits well with the current DuPont offering in the automotive and electrical/electronics industries where DuPont has a major stake, and the businesses can be quickly and fully integrated into our operations," said Terry Caloghiris, vice president and general manager, DuPont Engineering Polymers. "At the same time, the acquisition complements the capability of DuPont to meet its customers requirements for high-performance materials in applications that demand ever-increasing temperature resistance and dimensional stability."
Phillip Griswold, vice president and general manager of Eastman's Specialty Plastics business added: "Our high temperature crystalline business has demonstrated good success for Eastman. Although we have good technology, we have a limited market presence in the markets that represent the best growth opportunities for these products going forward. Our strategy is to shift our resources to more fully concentrate on our market strengths. Our focus will be on the medical, durables, consumer, and specialty packaging markets for which we provide amorphous copolyesters and cellulosics.
"Eastman will continue to supply DuPont with PCT polymer for the Thermx(R) business. These materials are known for their ability to perform under high temperatures that are so critical in automotive and electronics uses."
According to DuPont, the Eastman product lines will fit into the DuPont portfolio as follows:
Titan(R) LCP will be integrated into the DuPont(TM) Zenite(R) LCP offering. In doing so, DuPont will be able to expand its offering for customers needing liquid crystal polymers in applications that require added toughness and weld line strength.
Thermx(R) PCT will be a distinctive new product line for DuPont, reportedly offering higher temperature capability for applications requiring the dimensional stability of thermoplastic polyester. These properties are useful in surface mount electronic circuit board manufacturing and certain other electronics applications. Thermx(R) PCT will complement the offering by DuPont of LCP and Zytel(R) HTN polyamide high-temperature engineering polymers. A modified form of this product, Thermx(R) PCTA, has FDA approval for use in consumer food-contact applications.
Thermx(R) EG series PET polyester resins will be integrated into the DuPont family of Rynite(R) thermoplastic polyester resins known for their dimensional stability under heat and moisture conditions for uses in the automotive, electrical/electronics, appliance and other industries.
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