DuPont to acquire coatings manufacturer Herberts

DuPont to acquire coatings manufacturer Herberts

KeywordsAcquisition, DuPont, Herberts

DuPont has signed a definitive agreement to acquire the Herberts Group, the coatings business of Hoechst, for $1.89 billion (DM 3.13 billion). The acquisition, pending government approvals, would create the world's third largest coatings company and the leading automotive coatings supplier with combined sales of $3.7 billion, employing 14,000 people.

"This action is consistent with DuPont's intent to establish strong global positions in its core businesses through selective investments that capitalize on strong cost positions and technology synergies" said Joe Miller, senior vice president of DuPont,"Herberts is an ideal fit in this strategy".