Yahoo Finance DuPont (DD) Scoops Up Desalitech, Strengthens Portfolio
DuPont de Nemours, Inc. DD has agreed to purchase closed circuit reverse osmosis company, Desalitech Ltd for an undisclosed price. The financial terms of the deal were not divulged.
DuPont is a leading player in water purification and separation technology that includes ultrafiltration, reverse osmosis and ion exchange resins. The company noted that the acquisition reinforces its strategy of offering a strong portfolio of technologies to address its customers' current and future challenges.
Desalitech along with other acquisitions announced this year are expected to allow DuPont to boost growth and innovation through access to new manufacturing capabilities, geographies and technologies
Desalitech's patented and unique process technology strengthens DuPont's portfolio with a compelling offering to further minimize the lifecycle cost of water purification and reuse.
The transaction, which is subject to customary closing conditions and regulatory approvals, is expected to close in January 2020.
DuPont’s shares are down 12.5% over the past three months, compared with the 1.2% rise recorded by the industry.
DuPont, in October, narrowed its adjusted earnings per share guidance to the range of $3.77-$3.82 for 2019 from its prior view of $3.75-$3.85. The company continues to see organic sales for the year to be modestly down from last year.
The company is gaining from its cost and productivity actions, investment in innovation and new product development amid certain headwinds including a weak demand environment. Weak demand is expected to affect the company’s full-year organic sales.
DuPont de Nemours, Inc. Price and Consensus
DuPont de Nemours, Inc. price-consensus-chart | DuPont de Nemours, Inc. Quote
Stocks to Consider
Some better-ranked stocks worth considering in the basic materials space include Kirkland Lake Gold Ltd. KL, Agnico Eagle Mines Limited AEM and Franco-Nevada Corporation FNV.
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