Huafon Group Co., Ltd. acquired Biomaterials business from DuPont de Nemours, Inc. (NYSE:DD) on June 1, 2022.
May 30, 2022
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Huafon Group Co., Ltd. entered into agreement to acquire Biomaterials Business of DuPont de Nemours, Inc. (NYSE:DD) for approximately $240 million earlier in the month of October 2020. The transaction is expected to close in first half of 2021. Deutsche Bank Aktiengesellschaft acted as financial advisor to DuPont de Nemours, Inc. in the transaction.
Huafon Group Co., Ltd. acquired Biomaterials business from DuPont de Nemours, Inc. (NYSE:DD) on May 31, 2022. For full year 2021, the Biomaterials business unit recorded net sales of approximately $200 million. Moelis & Company LLC acted as exclusive financial adviser to Huafon Group Co., Ltd. in the transaction.
DuPont de Nemours, Inc. specializes in the manufacture and marketing of specialty chemicals. The group provides copolymers, polyethylene, chloroform, fluorine, hydrofluoric acid, copper, hydroxylamine, precious metals, alumina hydroxide, ammonia, benzene, polyester fibers, propylene, wood pulp, acids, alcohols, chlorite, aldehydes, ethylene oxide, etc.
Net sales are distributed geographically as follows: the United States (32.4%), Asia/Pacific (43%), Europe/Middle East/Africa (18.3%), Latin America (4%) and Canada (2.3%).
DUPONT DE NEMOURS, INC. 
