DuPont (Wilmington, Delaware / USA; www.dupont.com) has reached an agreement to sell of its “Neoprene“ synthetic rubber business to Denka Performance Elastomer, a 70:30 joint venture between Denka (Tokyo / Japan; www.denka.co.jp) and Mitsui (Tokyo; www.mitsuichem.com). Financial details of the deal, which is expected to close in H1 2015 pending regulatory approval, were not disclosed. The sale includes about 235 employees producing Neoprene at DuPont’s site in LaPlace, Louisiana / USA.

DuPont said the agreement would allow its Performance Polymers business – which it plans to divest (for most recent coverage, see Plasteurope.com of 22.09.2014) – to focus on “innovative new offerings that drive profitable growth both today and over the long term.” For Denka, chloroprene rubber is part of its core business, and the acquisition will help it ensure future sustainable growth, the Japanese group said.

Neoprene was invented by DuPont in 1931. The synthetic rubber is used for chemical and weather-resistant products, including wet suits and orthopaedic braces, but also as a base resin in adhesives, electrical insulation and coatings.