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DuPont Performance Polymers (NYSE:DD), Wilmington, DE, will sell DuPont Neoprene polychloroprene to Denka Performance Elastomer LLC, a new joint venture company owned 70 percent by DENKA and 30 percent by Mitsui.
The sale is expected to close in the first half of 2015. Terms were not disclosed.
“Neoprene has been an important product line within DuPont Performance Polymers and we believe it will truly thrive as part of the Denka Performance Elastomer portfolio,” said Patrick E. Lindner, president of DuPont.