Guest South_paw Posted August 30, 2012 Share Posted August 30, 2012 (edited) If you have been around the hobby, you know about DuPont paint and their involvement in the auto industry. Today, after 88 yrs in the auto paint business, DuPont agreed to sell off it's automotive paint division for $4.9 billion to an investment firm called Carlyle. DuPont out of the paint business...Times they are a changing, for sure.Here's the WSJ article about it, Carlyle to Buy DuPont's Performance Coatings Unit for $4.9 Billion - WSJ.com Edited August 31, 2012 by South_paw (see edit history) Link to comment Share on other sites More sharing options...
rons49 Posted August 31, 2012 Share Posted August 31, 2012 I painted my Hudson with Chroma/Base. The sale of the paint division to the industrial giant Carlisle was due to the fact that the paint division was only producing 5% of the revenue for DD ( DuPont) and by that the least productive for the company.DD will now free up cash to further expand into the farming production products, its most profitable area. Time Marches On! Link to comment Share on other sites More sharing options...
Guest South_paw Posted August 31, 2012 Share Posted August 31, 2012 Just think, less than ten years ago the paint division was riding high. Jeff Gordon was winning championships and DuPont was the one buying paint companies (Spies Hecker & Standox). Link to comment Share on other sites More sharing options...
Guest Kingoftheroad Posted August 31, 2012 Share Posted August 31, 2012 That comes as shocking news ! Link to comment Share on other sites More sharing options...
Dave Mellor NJ Posted August 31, 2012 Share Posted August 31, 2012 Carlyle also partnered up with somebody to buy Sunoco's Philadelphia Refinery. They're really getting to be a player. Link to comment Share on other sites More sharing options...
R Walling Posted August 31, 2012 Share Posted August 31, 2012 Oh No! First they took away my Duco, Then they eliminated Lucite, and Centri went down the drain, The worlds most forgiving paint, Dulux, then got the axe! Then the "wet Look" Imron slid down into the trash. And the Imron 5000 and 6000 went bust.54 years of handling DuPont, now what do I do? Ah! there is still help!DuPont only sold the division that made paint for the car manufacturers. The after market (body shops) line, aircraft and truck lines are still owned by DuPont. Link to comment Share on other sites More sharing options...
Guest mikelj Posted August 31, 2012 Share Posted August 31, 2012 As a retired DuPont employee, this is a very sad day for a once proud and successful company, RIP. Link to comment Share on other sites More sharing options...
1937hd45 Posted August 31, 2012 Share Posted August 31, 2012 I shot a lot of DuPont products over the years, but there are just as good or better brands out there now. Bob Link to comment Share on other sites More sharing options...
Dave@Moon Posted August 31, 2012 Share Posted August 31, 2012 Carlyle has always been a player. They were formed by ex-Westinghouse executives when that business was spun off by CBS, and have been among the most politically well-connected organizations on earth (in Republican Party circles especially, employing both G.H.W. Bush and James Baker among many others).As a retired DuPont employee, this is a very sad day for a once proud and successful company, RIP.Don't feel too sorry for DuPont. The paint division was sold mainly because it had become a sideline to the corporation. DuPont management sold the division in order to concentrate on what is now their core business, the Life Sciences (biotechnology) Division. ( DuPont Biotechnology | Home ) They're betting on biofuels (cellulosic ethanol and biobutanol specifically), renewable/carbon neutral material technology, and proprietary Pioneer brand food crops as their future. The first two are poised to potentially make them the Exxon of the future.Carlyle Group to acquire DuPont auto paint business in $5 billion deal - The Washington Post Link to comment Share on other sites More sharing options...
Dave@Moon Posted August 31, 2012 Share Posted August 31, 2012 DuPont only sold the division that made paint for the car manufacturers. The after market (body shops) line, aircraft and truck lines are still owned by DuPont.Roger, this is not reflected in any of the press release or stories I've read. Even the body shop trade publications aren't saying this. ( The Carlyle Group to Buy DuPont Performance Coatings Business for $4.9 Billion: aftermarket News , Carlyle to buy DuPont Performance Coatings for $4.9 billion - FenderBender - August 2012 - United States ) Do you have a different source? Link to comment Share on other sites More sharing options...
R Walling Posted August 31, 2012 Share Posted August 31, 2012 Roger, this is not reflected in any of the press release or stories I've read. Even the body shop trade publications aren't saying this. ( The Carlyle Group to Buy DuPont Performance Coatings Business for $4.9 Billion: aftermarket News , Carlyle to buy DuPont Performance Coatings for $4.9 billion - FenderBender - August 2012 - United States ) Do you have a different source? My source is from my DuPont rep. He still has a job with Dupont. Link to comment Share on other sites More sharing options...
Guest billybird Posted August 31, 2012 Share Posted August 31, 2012 I hope it's not the same Co. that makes the trailer tires. If it is, the paint will probably blow off the vehicles in sheets as it goes down the road. Link to comment Share on other sites More sharing options...
Dave@Moon Posted August 31, 2012 Share Posted August 31, 2012 My source is from my DuPont rep. He still has a job with Dupont.The aftermarketnews.com story I linked says that they'll be changing the name and logo "at some point".According to Mike Bennett, North American marketing manager for DuPont Performance Coatings, Carlyle's acquisition of the business will allow DPC to meet its future growth targets."This allows us to really focus on our marketplace, allows us to reinvest the funds back into the market with the intent to grow," Bennett said. "Carlyle has indicated that they are excited to help us meet our growth potential. With the capital investment we're going to get from that, that is our intent."Bennett also confirmed that DPC's current management team will remain in place, ho the brand name will change."Over a period of time the brand name will transition to something else but the products will remain available; it will just be under a different logo at some point," Bennett said. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now