DuPont Acquires Spectrum Plastics Group

DuPont Completes Acquisition of Spectrum Plastics Group DuPont (NYSE: DD) announced today that it has completed the previously announced acquisition of Spectrum Plastics Group ("Spectrum"), a recognized leader in the specialized medical devices and components markets. Ed Breen, Chairman and Chief Executive Officer of DuPont, said, "I am pleased to welcome our talented Spectrum colleagues to DuPont" and added "We are excited to add Spectrum's best-in-class advanced manufacturing capabilities and decades-long customer relationships with major medical device OEMs to our existing healthcare portfolio. This acquisition is fully aligned with our strategic objectives and is expected to increase overall high single-digit growth rates for DuPont through a broader and more integrated suite of offerings for critical healthcare applications led by customer-focused innovation." With a global workforce of approximately 2,200 employees and annual revenue of approximately USD 500 million, Spectrum will become part of the Industrial Solutions business within the Electronics and Industrial segment. Spectrum's strategic focus on key, fast-growing therapeutic areas such as structural heart, electrophysiology, surgical robotics and cardiovascular complements DuPont's existing offerings for biopharmaceutical and pharmaceutical processing, medical devices and packaging, including DuPont's Liveo™ silicone solutions and Tyvek® Medical Packaging. The combination with Spectrum raises DuPont's existing revenue in high-growth healthcare markets to approximately 10 percent of its portfolio. Source