WILMINGTON, DEL.(Oct. 12, 9:30 p.m. ET) — DuPont Co. is looking for a buyers for DuPont Teijin Films Ltd., its polyester film-making joint venture with Teijin Ltd., according to a report from Bloomberg news.
The Oct. 12 report, which quotes sources “with knowledge of the matter,” said Goldman Sachs Group Inc. is advising DuPont on the potential sale.
The report said Wilmington-based DuPont also is looking for a buyer for its powder-coatings business, and it mentioned an earlier decision to find a buyer for its Liqui-Box blow molding business.
According to the Bloomberg story, DuPont hired Bank of America Corp. earlier this year to find a buyer for Liqui-Box.
This is not the first time DuPont has been rumored to be interested in selling Worthington, Ohio-based Liqui-Box. In 2006, the Daily Deal reported that J.P. Morgan Chase & Co. was advising DuPont on a possible sale of the unit.
DuPont is a major player in plastic films – the company ranked No. 5 on Plastics News' most recent survey of North American film & sheet manufacturers, with relevant sales of $1.26 billion. The DuPont Teijin Films business accounts for a large portion of that estimate.
The company is a smaller player in the blow molding sector. DuPont Liquid Packaging Systems, the Liqui-Box business, ranked No. 31 in PN's most recent survey, with estimated sales of $55 million.