DuPont, the U.S. chemical company known as EI du Pont de Nemours and Company -- established in 1802 -- recently announced that it has finished separating its Performance Chemicals department by making a spin-off, The Chemours Company.
For every five DuPont common stock shares, stockholders received one Chemours common stock share as of 5 p.m. ET on June 23.
"Today's successful spin-off advances DuPont's transformation to a higher growth, higher value, global science and innovation company," Ellen Kullman, DuPont chair and CEO, said. "We are now fully focused on markets where our science gives the company a distinct competitive advantage, enabling DuPont to drive higher, more stable growth."
stockholders of DuPont will receive cash for fractional Chemours shares.
Stockholders anticipate receiving their shares and seeing their new
Chemours investment shares.
"The next generation DuPont is leaner and more efficient, better able to capitalize on key capabilities that help solve major global challenges and enable our customers to provide plentiful, healthier food; renewably sourced advanced materials; ample energy; better infrastructure and transportation," Kullman said. "As we move forward, we are committed to continuing to execute our strategy to deliver value for shareholders today, while positioning DuPont for a successful future."
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