The sale is expected to close by the end of 2016, subject to customary closing conditions
WILMINGTON, Del. (PRWEB) December 12, 2016
De La Rue and DuPont Electronics & Communications (DuPont) today announced an agreement for DuPont to sell its global Authentication business to De La Rue, a leading anti-counterfeiting solutions provider serving both commercial and government customers. DuPont Authentication manufactures and sells photopolymer films focused on anti-counterfeiting applications, including brand protection and secure ID. The sale is expected to close by the end of 2016, subject to customary closing conditions. Financial terms of the agreement were not disclosed.
Commenting on the acquisition, Martin Sutherland, CEO of De La Rue said, “Governments and brand owners around the world are increasingly focused on protecting their supply chains from counterfeiting and protecting both revenues and customers from illicit trade. This is a key area of growth for De La Rue, and in line with our strategy, we are delighted to be acquiring a business with a strong portfolio, global customers and a committed and talented workforce. These complement our existing offerings very well, and will strengthen our portfolio to help compete more effectively in this market.”
As part of the transaction, De La Rue will acquire DuPont Authentication’s Logan, Utah, manufacturing facility and employees, a research and development team in Wilmington, Del., global salespeople, three brands (DuPont™ Izon®, Traceology® and Omnidex®), customer information, and other relevant intellectual property.
“This agreement is driven by our strategic plan to focus our investments and resources in our core Advanced Printing businesses,” said Jon D. Kemp, president, DuPont Electronics & Communications. “Anti-counterfeiting solutions are a core market growth area for De La Rue, and we believe our employees and our customers that will transition to De La Rue will benefit from their leadership in the identity sector.”
De La Rue’s purpose is to enable every citizen to participate securely in the global economy. As a trusted partner of governments, central banks and commercial organizations, De La Rue provides products and services that underpin the integrity of trade, personal identity and the movement of goods.
As the world’s largest designer and commercial printer of banknotes, De La Rue designs, manufactures and delivers banknotes, banknote substrates and security features to customers in a world where currency will continue to be a key part of the developing payments eco-system. De La Rue is the only fully integrated supplier of both paper and polymer banknotes, and creates security features that ensure banknotes are protected against counterfeiting.
De La Rue is the world’s largest commercial printer of passports, delivering national and international identity tokens and software solutions for governments in a world that is increasingly focused on the importance of a legal and secure identity for every individual.
De La Rue also creates and delivers secure product identifiers and ‘track and trace’ software for governments and commercial customers alike to help to tackle the challenge of illicit or counterfeit goods and the collection of revenue and excise duties.
De La Rue is listed on the London Stock Exchange. For further information visit http://www.delarue.com
DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit http://www.dupont.com.
Forward-Looking Statements: This document contains forward-looking statements which may be identified by their use of words like “plans,” “expects,” “will,” “believes,” “intends,” “estimates,” “anticipates” or other words of similar meaning. All statements that address expectations or projections about the future, including statements about the company’s strategy for growth, product development, regulatory approval, market position, anticipated benefits of recent acquisitions, timing of anticipated benefits from restructuring actions, outcome of contingencies, such as litigation and environmental matters, expenditures and financial results, are forward-looking statements. Forward-looking statements are not guarantees of future performance and are based on certain assumptions and expectations of future events which may not be realized. Forward-looking statements also involve risks and uncertainties, many of which are beyond the company’s control. Some of the important factors that could cause the company’s actual results to differ materially from those projected in any such forward-looking statements are: fluctuations in energy and raw material prices; failure to develop and market new products and optimally manage product life cycles; ability to respond to market acceptance, rules, regulations and policies affecting products based on biotechnology and, in general, for products for the agriculture industry; outcome of significant litigation and environmental matters, including realization of associated indemnification assets, if any; failure to appropriately manage process safety and product stewardship issues; changes in laws and regulations or political conditions; global economic and capital markets conditions, such as inflation, interest and currency exchange rates; business or supply disruptions; security threats, such as acts of sabotage, terrorism or war, natural disasters and weather events and patterns which could affect demand as well as availability of products for the agriculture industry; ability to protect and enforce the company’s intellectual property rights; successful integration of acquired businesses and separation of underperforming or non-strategic assets or businesses; and risks related to the agreement entered on December 11, 2015, with The Dow Chemical Company pursuant to which the companies have agreed to effect an all-stock merger of equals, including the completion of the proposed transaction on anticipated terms and timing, the ability to fully and timely realize the expected benefits of the proposed transaction and risks related to the intended business separations contemplated to occur after the completion of the proposed transaction. The company undertakes no duty to update any forward-looking statements as a result of future developments or new information.
# # #
The DuPont Oval logo, DuPont™ and all products, unless otherwise noted, denoted with ™, ℠or ® are trademarks or registered trademarks of E.I. du Pont de Nemours and Company or its affiliates.
For the original version on PRWeb visit: http://www.prweb.com/releases/dupont-authentication/de-la-rue/prweb13917806.htm