DuPont to Acquire Desalitech
Wilmington, Del., Dec. 11, 2019 /PRNewswire/ -- DuPont (NYSE: DD) today announced it has signed an agreement to acquire Desalitech Ltd., a closed circuit reverse osmosis (CCRO) company. The transaction is expected to close in January 2020, subject to customary closing conditions and regulatory approvals. Financial terms of the agreement were not disclosed.
"As a global leader in innovative water solutions, we are committed to delivering ways to solve water challenges around the world," said Rose Lee, President, DuPont Safety & Construction. "This acquisition in the high-growth water purification space reinforces our strategic intent to provide a robust portfolio of technologies to meet our customers' current and future challenges while advancing our corporate commitment to sustainability."
DuPont is a leader in water purification and separation technology including ultrafiltration, reverse osmosis and ion exchange resins. The FilmTec™ brand is recognized globally and known for consistent and reliable performance. Each of the acquisitions announced this year, including Desalitech, supports our strategy to drive growth and innovation through access to new manufacturing capabilities, geographies and technologies.
Desalitech's globally patented and unique process technology, using standardized design and operated using proprietary software, enhances DuPont's portfolio with a compelling offering to further reduce the lifecycle cost of water purification and reuse. Desalitech has proven the value of these systems to deliver up to 90-98 percent water recovery at more than 200 blue chip customers over the past seven years.
"Water scarcity is a global challenge that all stakeholders need to solve with a sense of urgency to purify, conserve and reuse this precious resource," said HP Nanda, Global Vice President & General Manager, DuPont Water Solutions. "We look forward to working with OEMs, end users and value chain partners around the world, using business models such as technology licensing, system sales and fabrication partnerships to increase access to this technology."
"As a leader in reverse osmosis, with a large, global installed base and deep knowledge across many industrial and municipal applications, DuPont is the perfect home for Desalitech and its disruptive CCRO technology," said Nadav Efraty, CEO and Chairman, Desalitech. "As part of DuPont, we will have an exponentially greater impact on global water scarcity with many more partners and users able to access this efficient, resilient and flexible water purification and reuse technology."
About DuPont Safety & Construction
DuPont Safety & Construction is a global leader in delivering innovation for life's essential needs in water, shelter and safety; enabling its customers to win through unique capabilities, global scale and iconic brands including DuPont™ Corian®, Kevlar®, Nomex®, Tyvek®, GreatStuff™, Styrofoam™ and FilmTec™. More on DuPont Water Solutions can be found at https://www.dupont.com/water.
About DuPont
DuPont (NYSE: DD) is a global innovation leader with technology-based materials, ingredients and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, health and wellness, food and worker safety. More information can be found at www.dupont.com.
About Desalitech
Desalitech is helping leading industrial and municipal water users boost their financial, environmental and operational performance and competitiveness. With our partners and customers, we are creating a paradigm shift in Reverse Osmosis water efficiency and reliability, saving the world from water scarcity and making water purification, reuse and desalination affordable and sustainable. More information can be found at www.desalitech.com
Source DuPont
Contact:
DuPont Media, Dan Turner, +1 302-996-8372, daniel.a.turner@dupont.com
DuPont Investor Relations, Lori Koch, +1 302-999-5631, lori.d.koch@dupont.com
Web Site: http://www.dupont.com
