"I'm pleased to welcome our very talented Laird Performance Materials colleagues to DuPont," Ed Breen, Executive Chairman and Chief Executive Officer of DuPont, said in a release. "The addition of Laird Performance Materials significantly strengthens the DuPont Electronics & Industrial (E&I) segment and is another meaningful step in advancing our strategy to grow as a global innovation leader and premier multi-industrial company. I'm excited about the next chapter as we continue to drive growth in high margin markets to create long-term value for shareholders."
Laird Performance Material generated revenues of $465 million in 2020 and has a workforce of 4,300 across its global footprint. Following the close of the transaction, the company will be rolled into DuPont Electronics & Industrial’s Interconnect Solutions (ICS) business. The portfolio of ICS currently includes dry film photoresist, flexible laminates, specialty films, and plating chemistries. DuPont said the acquisition will increase its customer base and speed to market, as well as result in new efficiencies and integrated, multi-functional solutions.
"This acquisition positions DuPont as an essential partner for major electronics OEMs by combining applied materials science expertise together with application engineering capabilities," said Jon Kemp, President, DuPont E&I. "Together, the combined organization will advance our leadership in accelerating the adoption of high-performance computing, artificial intelligence, 5G telecommunications, smart/autonomous vehicles, and the internet of things. It also expands our product and solution portfolio across the electronics value chain and builds our expertise in key technologies critical to enabling the next generation of electronic devices and infrastructure."
DuPont entered into an agreement to buy Laird Performance Materials from Advent International for $2.3 billion in March.