DuPont’s (DD) business unit – DuPont Protection Technologies – and Jacob Holm & Sonner Holdings A/S (Jacob Holm) announced that the latter has completed the takeover of the DuPont Sontara business. Sontara is a strong, nonwoven textile sheet fabric created by DuPont. It manufactures products used in a variety of medical and wipes applications. The companies did not disclose the financial terms of the transaction.
The combination of Jacob Holm and Sontara complements two strong players and creates a new industry innovation leader for spunlaced nonwoven fabrics. Their wide range of technological expertise will result in higher innovation capabilities in product development and offer promising business opportunities to the benefit of Jacob Holm’s customers and its employees. Jacob Holm will operate Sontara assets in Asturias, Spain, and Old Hickory, TN, with a global workforce of 240 people.
DuPont Protection Technologies aims at providing innovative advanced material and offers a wide range of proven, science-based solutions including some of the most trusted brands in the industry. Jacob Holm is a leading company for spunlaced nonwoven fabrics with production facilities in France and the U.S.
DuPont released its second-quarter 2014 results in July. The company witnessed a rise in its reported profit for the quarter. But its adjusted earnings fell year over year on weak results in its core agriculture business.
DuPont currently has a Zacks Rank #3 (Hold).
Other companies in the chemical space with favorable Zacks Rank include LyondellBasell Industries NV (LYB), Valhi Inc. (VHI) and Johnson Matthey plc. (JMPLY). All of these stocks hold a Zacks Rank #2 (Buy).