By Tess Stynes
DuPont Co. said it plans to name the new public company created
by the spinoff of its company's performance chemicals business the
Chemours Co.
In a regulatory filing, DuPont said the name reflects a focus on
the science of chemistry and the heritage of the du Pont family
origins in Nemours, France.
The separation of the performance chemicals unit remains on
track for mid-2015.
DuPont also said it expects to post an additional charge of $315
million during the fourth quarter related to a streamlining
initiative unveiled in June, pushing such charges to nearly $580
million for 2014.
Nelson Peltz's activist investment fund Trian Fund Management LP
has pressed for DuPont to split, creating one company that focuses
on agricultural and nutrition and another with industrial materials
operations. However, DuPont has been resisting, instead planning to
spin off the performance chemicals unit, which makes up roughly 20%
of its revenue.
Chemours intends to apply to list on the New York Stock Exchange
under ticker symbol "CC."
Write to Tess Stynes at tess.stynes@wsj.com
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