BETHANY, CT - LATICRETE and DuPont announced that they have reached a definitive agreement for LATICRETE to purchase the DuPont Surface Care business. The transaction is expected to close later this month, subject to customary closing conditions and regulatory approvals.
"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."
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."
DuPont Surface Care offers a range of innovative, easy-to-use 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 globally proven construction solutions for the building industry. LATICRETE offers a broad range of products and systems covering substrate preparation, tile and stone installation, concrete construction chemicals and decorative flooring. For nearly 60 years, LATICRETE has been committed to research and development of innovative installation products, building a reputation for superior quality, performance and customer service. LATICRETE methods, materials and technology have been field and laboratory proven by Architects, Engineers, Contractors and Owners. Offering an array of low VOC and sustainable products, LATICRETE products contribute to LEED certification, exceed commercial/residential VOC building requirements, and are backed by the most comprehensive warranties in the industry. LATICRETE®, LATAPOXY®, SPECTRALOCK®, HYDRO BAN®, PERMACOLOR® and DRYTEK® are registered brands of LATICRETE International, Inc.
DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit www.dupont.com.
SOURCE LATICRETE International, Inc.
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