DuPont to Acquire Membrane Business from Evoqua Water Technologies Corp.

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Oct 03, 2019, 07:00 ET

WILMINGTON, Del., Oct. 3, 2019 /PRNewswire/ -- DuPont (NYSE: DD) today announced it has signed an agreement to acquire the Memcor® business including ultrafiltration and membrane biofiltration technologies from Evoqua Water Technologies Corp. The transaction is expected to close by the end of 2019, subject to customary closing conditions and regulatory approvals.

"Our strategic intent for the Water Solutions business is to have a robust portfolio of technologies so that our talented global organization can leverage a broad range of solutions to solve our customers' most pressing challenges," said Marc Doyle, DuPont Chief Executive Officer. "Recently, we announced the intended acquisition of BASF's ultrafiltration membrane business. This second announcement reinforces our commitment to invest in specialty solutions aligned with high growth, attractive end markets where our continued innovation and customer relationships add value."

The Evoqua ultrafiltration and membrane biofiltration (MBR) technologies add to DuPont's leading portfolio of water purification and separation capabilities including ultrafiltration, reverse osmosis and ion exchange resins. Together with the intended acquisition of BASF's ultrafiltration business, which is also expected to close by the end of 2019 subject to customary closing conditions and regulatory approvals, DuPont will be even better positioned to provide the products, technology and geographic diversification needed to meet current and future customer demand.

"DuPont and Evoqua have enjoyed a mutually beneficial long-standing business relationship, and this transaction further complements both companies' strengths to focus more effectively on what each does best," said HP Nanda, Global Vice President & General Manager, DuPont Water Solutions. "The addition of Evoqua's ultrafiltration portfolio opens DuPont Water Solutions to additional market spaces including membrane bioreactors, submerged and pressurized ultrafiltration systems bringing more choice and opportunity for customers."

"This transaction is an excellent opportunity for Memcor® and its employees to align with DuPont's strength in membrane development and material science," said Ron Keating, CEO of Evoqua. "Evoqua's strategy is to source components that we can incorporate into innovative products, and integrated solutions and services, that align with our strengths. We are confident that the Memcor® product line will thrive under DuPont's leadership and we look forward to continuing our decades long relationship with DuPont to bring integrated membrane-based systems and solutions to the marketplace."

About DuPont Safety & Construction
DuPont Safety & Construction is a global leader in delivering innovation for life's essential needs in water, shelter and safety; enabling its customers to win through unique capabilities, global scale and iconic brands, including DuPont™ Corian®, Kevlar®, Nomex®, Tyvek®, GreatStuff™, Styrofoam^™ and Filmtec®. More on DuPont Water Solutions can be found at https://www.dupont.com/water.

About DuPont
DuPont (NYSE: DD) is a global innovation leader with technology-based materials, ingredients and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, health and wellness, food and worker safety. More information can be found at www.dupont.com.

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On April 1, 2019, the company completed the separation of its materials science business into a separate and independent public company by way of a pro rata dividend-in-kind of all the then outstanding stock of Dow Inc. (the "Dow Distribution"). The company completed the separation of its agriculture business into a separate and independent public company on June 1, 2019, by way of a pro rata dividend-in-kind of all the then outstanding stock of Corteva, Inc. (the "Corteva Distribution").

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SOURCE DuPont