WILMINGTON, DE — DuPont has completed its purchase of MECS from affiliates of American Securities LLC, according to a press release.
The previously announced transaction strengthens the DuPont clean technologies portfolio and will provide access to additional high-growth markets, particularly in developing regions such as Asia Pacific, the Middle East and Africa, the release noted.
Per the agreement, MECS became a wholly owned subsidiary of DuPont and part of the company''s Sustainable Solutions business effective December 31, 2010, the release stated.
"We are pleased to begin 2011 by welcoming MECS into DuPont Sustainable Solutions," said James R. Weigand, president of DuPont Sustainable Solutions.
"This acquisition enables us to diversify our clean technologies portfolio in significant ways. As a result, we estimate an increase in the addressable market for our clean air and clean fuel offerings from approximately $200 million to $1 billion. This action also is aligned with our corporate goals that call for using our science and technology to protect people and the environment and to address the needs of developing regions," Weigand added.
Click here to read the complete release.