WILMINGTON — In a sign of doubling down on the future of a “new DuPont,” Delaware’s chemical company has now signed an agreement to buy Donatelle Plastics Incorporated.
The deal is expected to close in the third quarter of 2024, pending regulatory approvals. Terms of the deal were not disclosed.
Donatelle Plastics manufactures medical devices, including components in cardiac rhythm management, diabetes, the spine and cardiovascular surgery. Founded in 1967, the company is famed for its work in medical injection molding and custom manufacturing to solve complex applications.
Headquartered in New Brighton, Minn., Donatelle Plastics has more than 400 employees and runs a facility close to medical technology hubs near many manufacturers.
The deal comes a year after DuPont bought specialty medical device manufacturer Spectrum — and weeks after the company announced it would be spinning off two of its divisions.
“Our health care strategy is focused on offering a comprehensive suite of solutions for customers in high-growth therapeutic areas,” DuPont Electronics and Industrial President Jon Kemp said in a prepared statement. “Donatelle Plastics Incorporated will be the second acquisition, following Spectrum last year, that will deepen our expertise in the medical device market segments and enhance our position as a partner of choice for our customers.”
DuPont is Delaware’s most famed corporation, having developed many polymers like nylon, Teflon, kevlar and more while fueling the First State’s economy. In 2023, the company estimated that it hit $12.1 billion in sales and has 100 manufacturing sites and 24,000 employees across the country.
In late May, DuPont leaders announced a major shift, as then President and CEO Ed Breen would step down and Lori Koch would take the lead. At the same time, the company announced it would spin off its water and electronics division by late 2025 or early 2026.
That would leave “new DuPont” to focus on medical devices, biopharma consumables, medical devices and medical packaging, as well as devices in electric vehicles. Recent presentations made to investor show that the industrial solutions segment, which includes health care products, generated $1.8 billion in net sales.
While DuPont navigates the spin-off process, rumors have been swirling that potential suitors are out there for DuPont’s water treatment business. Bloomberg reported on Monday that Veralto Corp and Xylem Inc. —one of DuPont’s peers in this sector — are among possible companies that may take over the division.
In an investor call in May, Breen said that DuPont was not following a mergers and acquisition process for the water unit. DuPont’s water solutions provide technologies to make water more efficient and sustainable.
DuPont representatives declined to comment to the Delaware Business Times on a possible deal for the water division.
