DuPont (DD) announced that it has formed a joint venture with OCP, under which, the companies will provide consulting and training services in Morocco and other African countries. Both DuPont and OCP will have a 50% stake in the joint venture which will be called DuPont OCP Operations Consulting.
The joint venture will embrace the internationally-renowned expertise of DuPont Sustainable Solutions (DSS) and OCP’s world-class industrial experience and local market knowledge. DSS will provide world-class consulting and training services to industries in Morocco and key developing regional markets while meeting the local needs. On the other hand, OCP’s strong regional presence will enable the joint venture to achieve world-class safety performance and add value.
OCP, the global leader in the phosphate industry, aims to develop local industries and build a more skilled workforce in Morocco. The company’s objective is to make Morocco safe, more environmentally sustainable and more productive, thereby improving the competitiveness of the country and allowing for more foreign investment and improvement of overall economic growth.
DuPont is a global chemical and life sciences company and provides innovative products, materials, and services to the global market. DSS, which is one of the 12 businesses of DuPont, helps in transforming the organizations, thereby making them more safe, sustainable and efficient.
DuPont currently retains a Zacks Rank #3 (hold).
Other companies in the chemical industry that are worth considering include Shin-Etsu Chemical Co., Ltd. (SHECF), Celanese Corp. (CE) and Methanex Corp. (MEOH). While Shin-Etsu Chemical retains a Zacks Rank #1 (Strong Buy), both Celanese and Methanex carry a Zacks Rank #2 (Buy).
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