DuPont announced completion of the previously-announced sale of its Biomaterials business unit, effective May 31, 2022, to the Huafon Group for a purchase price of approximately $240 million.

 

The results of operations of the Biomaterials business unit were previously reported in Corporate & Other.  For full year 2021, the Biomaterials business unit recorded net sales of approximately $200 million.

 

Founded in 1991 and headquartered in Ruian, China, the Huafon Group has been innovating to provide new material solutions globally in multiple industries by promoting sustainability, safety, technology and quality. Huafon Group is one of the largest manufacturers of polyurethane (PU) materials in the world with broad product portfolio in adipic acid, polyester polyols, spandex filament, microfiber material, TPU, polyamide etc. Huafon Group has more than 14,000 employees and owns multiple subsidiary companies globally in chemical, metals, finance, logistics, information technology and trade.