DuPont posts rising profits

By Frank Esposito
Senior Staff Reporter

Published: January 28, 2014 6:12 pm ET
Updated: January 28, 2014 6:17 pm ET

Image By: DuPont Co. DuPont CEO Ellen Kullman

Related to this story

Topics Materials, Materials Suppliers
Companies & Associations DuPont Co.

Chemicals giant DuPont Co. posted major profit gains during 2013, even as sales were flat in its Performance Materials unit, which includes many plastic products.

Wilmington, Del.-based DuPont rang up sales of just over $35.7 billion in 2013, up 3 percent vs. 2012. The firm's full-year profit soared almost 75 percent to almost $4.9 billion.

But Performance Materials' sales essentially were flat at just under $6.5 billion. Operating income for the unit — which includes nylon and several specialty resins, as well as specialty film based on some of those materials — did improve 14 percent to almost $1.3 billion. Performance Materials' fourth-quarter operating earnings also improved, which officials said was the result of increased demand in packaging, automotive and industrial markets.

DuPont's Performance Chemicals unit — including its Teflon-brand fluoropolymer and Ti-Pure brand titanium dioxide businesses — had a difficult 2013, with sales dropping almost seven percent to $6.7 billion and operating income plummeting 48 percent to $924 million. The firm announced in October that it planned to spin the unit off as a separate public company.

"Our 2013 results and strategic actions demonstrate [that] we are advancing our plan to build a higher growth, higher value DuPont," Chairman and CEO Ellen Kullman said in a Jan. 28 news release. She added that the firm's full-year results "reinforce our decision to separate Performance Chemicals into a strong, independent company."

Performance Materials and Performance Chemicals were the two largest of DuPont's seven operating segments in 2013, generating almost 37 percent of the firm's sales.

On Wall Street, DuPont's per-share stock price has fared well in the last year. It was under $48 in early January 2013 but stood near $60 in late trading Jan. 28 — an increase of almost 24 percent.


Comments

DuPont posts rising profits

By Frank Esposito
Senior Staff Reporter

Published: January 28, 2014 6:12 pm ET
Updated: January 28, 2014 6:17 pm ET

Post Your Comments


Back to story


More stories

Image

New Hexcel plant will supply carbon fiber for Airbus A350 XWB

September 30, 2014 2:43 pm ET

Hexcel Corp. is investing $250 million on a new carbon fiber plant in France, with part of the production going into the future Airbus SAS A350 XWB.    More

Image

LyondellBasell CEO Gallogly to retire

September 30, 2014 3:00 pm ET

James Gallogly, CEO of Houston-based polyolefins producer LyondellBasell Industries NV, on Sept. 29 announced plans to retire in 2015.    More

Image

Asahi Kasei breaks ground on Alabama compounding plant

September 29, 2014 5:39 pm ET

Asahi Kasei Plastics North America will be able to solve two problems at once with a new compounding plant in Athens, Ala.    More

Image

DuPont shifting Teflon production in China

September 29, 2014 2:35 pm ET

DuPont Co. will spend more than $15 million to improve its fluoropolymer product offerings in China.    More

Image

Sale of PVC maker Oltchim still in limbo

September 29, 2014 10:25 am ET

Fresh attempts to privatize insolvent Romanian PVC producer Oltchim SA have met with new obstacles as the European Union questioned the Romanian gover...    More

Market Reports

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our industry analysis highlights macro industry trends and micro trends faced by companies that do business in Mexico. The report also provides key industry statistics and forecasts to anticipate future industry expansion.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events