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Spinoff at DuPont

 (Image source: psmag.com)

E I Du Pont De Nemours And Co (NYSE:DD) will spinoff its performance chemical business into a separately traded public company. The performance chemical business produces refrigerants and titanium dioxide, which found in many products such as paint, toothpaste, sunscreen, paper, and etc. Titanium dioxide is a pigment that turns stuff white. Revenues for the unit last year was $7 billion. Going forward, DuPont wants to focus more on agriculture and nutrition as way to deal with global population growth. For example, the company will develop bio seeds for crops, biofuels, and a lot of environmental conscious green products.  The spinoff is expected to wrap up in 18 months. Wall Street was calling for a spinoff for awhile now.