WILMINGTON, Del., Aug. 1, 2023 /PRNewswire/ -- DuPont (NYSE: DD) today announced that it has completed the previously announced acquisition of Spectrum Plastics Group ("Spectrum"), a recognized leader in specialty medical devices and components markets.
"I am pleased to welcome our talented Spectrum colleagues to DuPont," said Ed Breen, DuPont Executive Chairman and Chief Executive Officer. "We are excited to add Spectrum's best-in-class advanced manufacturing capabilities, and decades-long customer relationships with the largest medical device OEMs to our existing healthcare portfolio. This acquisition fully aligns with our strategic objectives and is expected to increase overall top-line growth rates for DuPont through a broader and more integrated set of offerings for critical healthcare applications led by customer-driven innovation."
With a global workforce of approximately 2,200 employees and annual revenue of about $500 million, Spectrum will become part of the Industrial Solutions line of business within the Electronics & Industrial segment. Spectrum's strategic focus on key, fast-growing therapeutics areas such as structural heart, electrophysiology, surgical robotics and cardiovascular complements DuPont's existing offerings for biopharma and pharma processing, medical devices and packaging, including DuPont's LiveoTM silicone solutions and Tyvek® Medical Packaging. The combination with Spectrum increases DuPont's existing revenue to high-growth healthcare markets to approximately 10 percent of its portfolio.
DuPont will discuss this transaction further during its second quarter earnings conference call scheduled for tomorrow, August 2nd at 8:00 a.m. ET.
About DuPont
DuPont (NYSE: DD) is a global innovation leader with technology-based materials 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, healthcare and worker safety. More information about the company, its businesses and solutions can be found at www.dupont.com. Investors can access information included on the Investor Relations section of the website at investors.dupont.com.
DuPont™, the DuPont Oval Logo, and all trademarks and service marks denoted with ™, SM or ® are owned by affiliates of DuPont de Nemours, Inc. unless otherwise noted.
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