LATICRETE Buying DuPont Surface Care Business

Editor’s note: A previous version of this story indicated that the Corian® and Zodiaq® surface lines are part of DuPont’s Performance Chemicals business. They are not.

BETHANY, Conn. – LATICRETE International Inc. will purchase DuPont’s Surface Care business, according to a joint statement today from both companies.

The transaction is expected to close later this month, subject to customary closing conditions and regulatory approvals. The purchase price wasn’t disclosed.

LATICRETE will merge the DuPont™ StoneTech®, DuPont™ Stone Care, and DuPont™ Paver Armor Pro branded products with its existing portfolio of products, which are already placed in professional and retail channels around the world.

“This business is an excellent fit with our strategic approach,” said Ed Metcalf, LATICRETE president/North America. “We are excited about working with the team to build on the strong foundation they have put in place and to achieve the full potential of this business in the future. We will continue to focus on providing customers with high quality products and service to deliver solutions that meet their stone- and tile-care needs.”

“LATICRETE knows the stone and tile market well and sells complementary products, and we believe the DuPont Surface Care business can best pursue its potential and most effectively meet market needs through this transaction,” said Thierry F. J. Vanlancker, president, DuPont Chemicals & Fluoroproducts. “The DuPont Surface Care business has a strong team that will join LATICRETE to continue to support these products.”

DuPont announced plans last October to spin off its Performance Chemicals business into a new company owned by DuPont shareholders. The Performance Chemicals corporate umbrella included the stone-care line.

However, during a Goldman Sachs materials conference last month, DuPont CFO Nick Fanadakis said the company is looking at other strategies for divesting  Performance Chemicals, although plans for the mid-2015 spinoff are continuing.

DuPont Surface Care offers a range of solutions to protect and preserve stone and tile against the damaging effects of everyday living. This complete line of products protects, cleans and transforms stone and tile surfaces, helping to ensure the beauty of natural stone and tile countertops, floors and walls. The business offers products under the DuPont™ StoneTech® Professional, DuPont™ Stone Care, and DuPont™ Paver Armor Pro brands.

LATICRETE is a leading manufacturer of construction solutions for the building industry, including a broad range of products and systems covering substrate preparation, tile and stone installation, concrete construction chemicals and decorative flooring.

Get the news of the industry with The EDGE, the monthly e-newsletter from Stone Update. Sign up for your free copy here.

For the latest industry info, check Slab & Sheet every Thursday, plus our Facebook page.