DuPont To Acquire Memcor Membrane Product Line From Evoqua
Zacks Investment Research | Oct 04, 2019 06:51AM ET
DuPont de Nemours, Inc. (NYSE:DD) has agreed to purchase the Memcor business including ultrafiltration and membrane biofiltration technologies from Evoqua Water Technologies Corp. The financial terms of the transaction were not divulged.
The deal includes Memcor membrane product line’s global workforce, its manufacturing site in Windsor, Australia, as well as related operations and intellectual property. The product line represents more than three decades of expertise in membranes and systems for municipal drinking water and wastewater reuse and applications.
The transaction, which is subject to customary closing conditions and regulatory clearances, is expected to close by the end of this year. DuPont noted that the buyout is in sync with its commitment to invest in specialty solutions aligned with attractive, high-growth end markets.
The ultrafiltration and membrane biofiltration technologies of Evoqua add to DuPont's portfolio of water purification and separation capabilities that includes ultrafiltration, reverse osmosis and ion exchange resins. Per DuPont, the acquisition opens the company’s Water Solutions business to additional market spaces including membrane bioreactors, submerged and pressurized ultrafiltration systems.
DuPont’s Safety & Construction unit, last month, also agreed to purchase the ultrafiltration membrane business from German chemical giant, BASF SE (DE:BASFN). The acquisition includes the shares of inge GmbH, the international workforce of the business, its headquarters and production site in Greifenberg, Germany and specific intellectual property currently owned by BASF.
The transaction is expected to complete by the end of this year. The buyout will expand DuPont's water purification capabilities.
BASF’s ultrafiltration technology complements DuPont’s high-flow PVDF technology. In addition to expanding DuPont’s portfolio, the acquisition will enhance the company’s ability to design solutions for drinking water, industrial and waste water treatment applications on a worldwide basis.
The company noted that the buyout of Evoqua’s membrane business along with the acquisition of BASF's ultrafiltration business will better position it to offer the products, technology and geographic diversification required to address current and future customer demand.
DuPont’s shares are down around 10.5% since it started trading as a stand-alone company on the NYSE on Jun 3, 2019, compared with the roughly 3.2% decline recorded by the Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.