DuPont company DuPont de Nemours, Inc. (NYSE: DD) was founded in July 1802 by the original DuPont company EI du Pont de Nemours and Company and the original Dow Chemical Company, which was founded in 1897, in 2017. It was merged on August 31, and the combined company was named DowDuPont Inc. (DowDuPont Inc.), and in April 2019 it spun off the materials science business- Dow Inc. (NYSE:DOW), Spin-off of the agricultural business Dow AgroSciences Corteva, Inc. (NYSE:CTVA) in June, changed to its current name in June 2019. Headquartered in Midland, Michigan, USA, with 35,000 full-time employees, it is the world’s largest chemical company one.
DuPont de Nemours, Inc. (DD):
Before the spin-off of Dow and Dow AgroSciences in 2019, DuPont was the world’s largest chemical company in terms of sales. According to reports, the value of the merger is estimated at $130 billion. DowDuPont’s total revenue in 2018 was US$86 billion, ranking 35th among the Fortune 500 companies in 2019.
DuPont (DuPont de Nemours, Inc.) provides technology-based materials, ingredients and solutions in the United States, Canada, Asia Pacific, Latin America, Europe, the Middle East and Africa.
DuPont is divided into 3 departments to operate:
- Electronics & Imaging (electronics and imaging)-to provide materials to manufacture photovoltaic and solar cells; materials and printing systems for the advanced printing industry; and materials and solutions for the manufacture of semiconductors and integrated circuits to solve the problems of the manufacturing process Front-end and back-end issues. The division also provides permanent and process chemistry for the manufacture of printed circuit boards, including laminates and substrates, chemical and electrolytic metallization solutions and patterning solutions, as well as materials and metallization for metal finishing, decoration and industrial applications process. In addition, the department provides various materials to manufacture rigid and flexible displays for liquid crystal displays, advanced matrix organic light-emitting diodes and quantum dot applications.
- Transportation & Advanced Polymers-provides engineering resins, adhesives, lubricants and parts for engineers and designers in transportation, electronics, healthcare, industry and consumer end markets.
- Safety & Construction-provides engineering products and integrated systems for construction, worker safety, energy, oil and gas, transportation, medical equipment, and water purification and separation industries.
Within 18 months of the merger, Dow DuPont was divided into three listed companies, focusing on agriculture ( Corteva ), materials science ( Dow Inc. ), and specialty products ( DuPont ).
DuPont de Nemours, Inc. (DD) history:
- In 1788, 16-year-old EI DuPont worked as an apprentice in the laboratory of chemist Anthony Lavoisier in Essonne, France. The young DuPont quickly mastered the gunpowder production technology.
- On July 19, 1802, after EI DuPont immigrated from France to Delaware, he bought a piece of land by the Brandy River and began to build his own gunpowder factory. The company issued 18 shares at US$2,000 each, raising a total of US$36,000.
- On May 1, 1804, DuPont began to produce and sell gunpowder.
- In 1805, the first batch of gunpowder was exported to Spain.
- In 1811, the annual output of gunpowder reached 204,056 pounds and the sales amounted to US$122,600. DuPont is the largest gunpowder manufacturer in the United States.
- In 1902, when the company’s president Eugene DuPont died, the surviving partners decided to sell the stock to the highest bidder. The three great-grandsons of the company’s founder, Thomas Clement Dupont, Alfred Irene Dupont and Pierre Samuel Dupont bought DuPont. The three brothers made a plan for DuPont to develop in a new direction. They established the Eastern Laboratory, which was one of the earliest industrial laboratories in the United States.
- In 1903, a second major research center, the Central Experimental Station, was established next to the old gunpowder factory on the bank of Brandy, to use the company’s knowledge of chemical cellulose to expand the company’s product varieties.
- In 1904, DuPont began to produce varnishes and other non-explosive products.
- In 1923, DuPont established DuPont Cellophane Co., Ltd. after obtaining the right to produce cellophane from a French company. Four years later, DuPont researcher Hale Charcha made cellophane moisture-proof, making cellophane from a simple decorative packaging material to a popular and effective food packaging material. The research on film and spray paint has produced a new fast-drying car paint Duco, which speeds up the production of cars and brings consumers more color choices.
- In 1930, DuPont researchers Arnold Collins and Wallace Carothers invented a general-purpose synthetic rubber neoprene. Two weeks later, researcher Julian Hill invented a synthetic fiber for the first time, which became the predecessor of nylon.
- In 1934, the Haskell Industrial Toxicology Laboratory was established at the experimental station. The laboratory was completed in 1935 and initially had 20 researchers.
- In 1935, researchers Gerald Burchet and Wallace Carothers invented nylon, a new “synthetic silk.” After years of intense development, nylon was finally shown to the public at the 1939 New York World’s Fair.
- From 1937 to 1938, researchers invented a tough multi-material fluoropolymer resin-DuPont Teflon, a new plastic DuPont Bautacite PVB intermediate film for automotive safety glass, and acrylic resin DuPont Lucite.
- In June 1942, US President Roosevelt approved the “Manhattan Project” for the study of atomic bombs, and signed a contract for DuPont to fully assist the Manhattan Project: DuPont was responsible for the design, construction, and safe transfer of all the projects required by the plan, and enjoyed Research and manufacture all technologies for atomic bombs. For this project, DuPont relocated all 60,000 employees from east to west about 4,345 kilometers. The US government paid one dollar for research.
- In 1946, the Second World War interrupted the production of nylon. When department stores started selling these sleek stockings after the war, women lined up to buy them, sometimes almost crazy. .
- In 1952, DuPont developed a particularly strong and durable plastic film DuPont MYLAR polyester film, which was used in tapes, tight packaging and electrical insulation materials. The business of the newly established textile fiber department is very successful, largely because of the development of new anti-wrinkle synthetic fibers that do not need to be ironed after washing, such as DuPont Dacron and DuPont Orlon acrylic fibers.
- In 1958, the International Department was established and the company began large-scale overseas investment.
- In 1959, DuPont Lycra elastic fiber was launched. Lycra can be stretched to five times its original length, and can return to its original shape after relaxation.
- In 1967, the new insulation products DuPont Tyvek brand protective materials and DuPont Nomex brand fiber started production. Tyvek is a very strong and durable sheet material that can be used for packaging, envelopes, flags and building seals. Nomex flame-retardant fibers and sheets are ideal materials for labor protection clothing, high-performance water pipes and high-temperature circuits.
- In 1968, DuPont Riston dry film was commercialized, which greatly improved the production efficiency of printed circuit boards.
- In 1969, DuPont Corian surface material was developed. This material is a seamless material, anti-fouling, anti-scratch and anti-scalding, and can be used for counter
surfaces, pools, and other building materials. Astronauts walking on the moon wear a space suit made of 25 layers of sandwiches, 23 of which are made of DuPont materials.
- In 1971, the bulletproof vest made of DuPont Kevlar fiber was tested by 15 police stations. Kevlar has five times the tension of steel and is suitable for cables, strong tires, ship hulls and jet wings.
- In 1981, DuPont acquired CONOCO INC., which doubled the company, assets and revenue. The $8 billion acquisition was the largest acquisition in American history.
- In 1982, DuPont expanded its varieties of agricultural products and developed a new generation of low-cost, low-toxic insecticides-DuPont Glean.
- In 1987, Charles Peterson won the Nobel Prize in Chemistry.
- In 1990, DuPont established a pharmaceutical joint venture with Merck Pharmaceuticals.
- In 1997, as part of the company’s strategy to invest in biotechnology, DuPont acquired some shares of Pioneer Seed International, a world-leading seed production company. DuPont acquired International Protein Technology Corporation, a major supplier of soy protein.
- In 1998, DuPont acquired Merck’s shares in the joint venture. For the first time, DuPont Pharmaceuticals has launched a new drug Sustiva that only needs to be taken once a day to treat HIV and AIDS.
- In 1999, the U.S. Food and Drug Administration approved DuPont’s application, stating that soy protein is related to reducing heart disease, and soy protein foods can be labeled as healthy foods. Food companies began to use DuPont’s Supro brand of pure soy protein as an additive. DuPont acquired the Hearst Group’s coating company Herberts (Herberts). DuPont owns 100% Pioneer International Seed Company. Withdrawal from Continental Petroleum.
- In 2000, DuPont Sorona was the name of DuPont’s 3GT technology, the most advanced polymer platform in the DuPont technology library. DuPont will use this technology with limited partners to produce fiber in Sorona.
- In 2002, the company celebrated its 200th anniversary.
- In 2004, INVISTA was sold.
- In 2005, the first bio-based material production facility was put into operation in Tennessee.
- In December 2015, The Dow Chemical Company announced plans to merge with DuPont.
2. Dow Chemical
- Dow Chemical was established in the United States in 1897. It is a technology-based multinational company. It ranks second in the world’s chemical industry (DuPont in the United States ranks first).
- On December 4, 1984, a methyl isocyanate gas leak occurred at the pesticide plant of Union Carbide Corporation in Bhopal, India, causing 125,000 poisonings, 6,495 deaths, and 200,000 injuries, shocking the world.
- In 1998, Dow Chemical (China) Investment Co., Ltd. was established to manage all Dow investment projects in China.
- Since 2000, Dow has been rated as the “Sustainability Leader” in the global industry by the Dow Jones Global Sustainability Index.
- In 2001, the Dow Chemical Company of the United States purchased United Carbon Compounds for US$1.16 billion.
- In 2004, Dow ranked 105th in the Fortune Global 500 and 34th in the Fortune 500 in the United States.
- In 2013, the Dow Chemical Company won the 2013 US Presidential Green Chemistry Challenge Award for its successful development of EVOQUETM pre-composite polymer technology. This technology can replace titanium dioxide or enhance the covering function of titanium dioxide. This technology will significantly reduce energy consumption, NOx and SOx emissions and reduce red tides.
- In August 2004, Shanghai officially became the headquarters of Dow Greater China.
- In 2010, Shanghai World Expo, Dow was the exclusive sponsor of the chemical and materials science category of the US National Pavilion.
- On December 5, 2014, the Dow Chemical Company announced that as part of its plan to divest non-core businesses, it had agreed to sell its sodium borohydride business and a polyolefin film plant in Ohio for a total transaction price of approximately US$225 million.
- In 2015, The Dow Chemical Company sold its sodium borohydride business to Vertellus Specialty Materials LLC.
- In 2015, The Dow Chemical Company sold its polyolefin film plant to Valfilm North American Inc.
- The Dow Chemical Company plans to raise approximately US$7 billion to US$8.5 billion through the sale of non-core assets by mid-2016.
- In December 2015, The Dow Chemical Company announced plans to merge with DuPont.
3. Dow DuPont (New DuPont)
- On August 31, 2017, Dow Chemical (DOW) and DuPont (DuPont) merged and became the world’s second largest chemical company. The combined entity is a holding company, and it is divided into three independent companies, which are engaged in agriculture and Specialty products and chemical materials department. Its business scope includes high-tech materials, basic materials, health and agricultural technology, electronic materials, etc., and its application scope spans food and nutrition, health care, textiles, construction and electronics.
- On April 1, 2019, DuPont spun off its materials science business and became an independent listed Dow Company (DOW).
- On June 3, 2019, DuPont spun off its agricultural business and became an independent listed company Dow AgroSciences (CTVA).