DuPont de Nemours has agreed to buy engineering materials maker Rogers for $5.2 billion, reported The Wall Street Journal. This deal will help them strengthen its presence in fast-growing markets such as electric vehicles, 5G and clean energy.
The company agreed to buy Rogers, an electronics-materials specialist, for $5.2 billion. It also plans to divest a substantial portion of its unit specializing in materials used in the automotive industry. The Wall Street Journal reported Monday that the company was nearing the moves.
The DuPont unit that the Rogers deal would expand and the mobility business account for roughly two-thirds of DuPont’s net sales, which last year were more than $20 billion.
DuPont, which has a market value of around $37 billion, has three divisions: electronics and industrials, mobility and materials, and water and protection.
DuPont emerged from the three-way breakup of Dow DuPont , which was formed by the merger of Dow and DuPont in 2015. DowDuPont’s materials-science business is now Dow and its agriculture operation is Corteva.
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