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.
There’s a new sheriff in town for stink bugs. The EPA is temporarily permitting orchards to use the pesticide dinotefuran. Dinotefuran is normally used on leafy plants but the EPA is allowing orchards to use this weapon to combat stink bugs in PA, MD and NJ. The pesky bugs have been responsible for destroying as much as 40% of some orchards crop!
Back at the ranch, the USDA is working away on a biological weapon but that is at least a year away from being ready. This temporary pesticide exemption is to help farmers combat the voracious stink bugs until the biological weapon can be deployed.