DuPont Plans $4 Billion to Sell Automotive Coatings Division

According to Bloomberg News, sources said on Friday that DuPont Co. is considering selling its Performance Coatings for automotive coatings for $3 billion to $4 billion and hiring Credit Suisse. Group AG, CS) helps find potential buyers.

The source said that the above estimated price includes a smaller powder coating department sold separately by DuPont. According to sources earlier this month, Greenhill & Co. (GHL) was responsible for the sale of the powder coatings division. The auction process has not yet started.

According to the report, DuPont spokesman Gregg Schmidt and Credit Suisse Group spoke highly of this.

According to DuPont's 2010 financial report, of the company’s $31.5 billion in operating revenue, the automotive paint business contributed approximately 12% of its operating revenue, while its operating profit contribution was only 5.1%. In last year's operation of Performance Coatings, the refurbishment car painting business generated operating revenue of approximately US$1.7 billion. The new car painting business generated operating revenue of approximately US$1.2 billion, and the sales revenue from the sale of powder and liquid paint was 9.5. Billion dollars or so.