Industrial materials manufacturers Dow and DuPont are to merge creating a new company with a market capitalisation of US$130 billion.
The new company DowDuPont will trade as three separate entities, one focused on agriculture, one on materials science and the third based around products for sectors including the Dow Electronic Materials business and DuPont’s electronics business.
The combination of both firms' PV offerings could lead to redundancies. Savings of US$3 billion are expected from the merger.
Andrew N. Liveris, president, CEO and chairman of Dow will become executive chairman of the new firm.
New DuPont CEO Edward D. Breen, will be CEO of the new venture.
The deal is expected to close in the second half of 2016.