DuPont Co. Leaving Wilmington

DuPont Co. says it is consolidating its headquarters offices, located since the World War I era in a high-rise complex fronting the north side of Rodney Square in the heart of Wilmington, to the company’s suburban Chestnut Run Plaza complex west of the city, effective July 1.

NEW: The company plans to move between 800-1,000 workers from the DuPont Building out to Chestnut Run; another 800-1,000 will remain, for the time being, with DuPont’s Performance Chemicals business, spokesman Daniel A. Turner told me. DuPont is spinning off that unit as part of a new company, Chemours (they say it “KEM-oars”), which has not yet chosen a permanent headquarters. Company statement here.

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DuPont Rises On Plan To Split The Company

Map of Delaware (Photo credit: Wikipedia)

Shares of DuPont Co. rose modestly this morning to above $65.50 — a 13-year high — after last night’s announcement that the Wilmington-based chemical giant plans to spin off its profitable but volatile Performance Chemicals business, and its related fluorochemicals and titanium-dioxide (white-paint-base) factories, including a TiO2 plant at Edge Moor, Del., over the next year and a half. The new company will have sales of around $7 billion a year, vs. $28 billion for what’s left of DuPont.

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