DuPont to Buy Two Units From British Firm

DuPont Co. will expand its operations of making polyester and titanium dioxide--a white pigment--in its $3-billion purchase of two businesses from Imperial Chemical Industries. The deal is expected to boost DuPont’s market share in titanium dioxide from 25% to 35% and to increase its overseas polyester business about 5%. Wilmington, Del.-based DuPont would take over London-based ICI’s white pigment business outside of North America and its worldwide polyester business, a move that would help ICI pare its bulk chemical business. If regulators approve the purchase, about 6,400 ICI employees would become DuPont workers. The acquisition would give DuPont its first European foothold and additional facilities in Asia and Africa. It also would give DuPont a stronger position in the $30-billion-a-year polyester industry. DuPont’s stock fell 94 cents to close at $62.31 on the New York Stock Exchange. ICI’s New York-listed shares rose $3.63 to close at $59.88.