Delaware will be home to both DowDuPont’s agriculture and specialty products companies.
When DuPont and Dow announced a “merger of equals” late last year, plans for the two companies included a division a merged DowDuPont into three separate companies. The big question for Delaware leaders, concerned about further job cuts, was where those companies would be located.
Now we know.
Wilmington will serve as the corporate headquarters for both the agriculture and specialty product spin-offs, according to a DuPont announcement made Friday morning. The third spin-off, focused on material science, will be headquartered in Midland, Michigan.
Company facilities in Indiana and Iowa will serve as global business centers for the ag company keeping research and development, marketing and sales functions close to its customers.
“Our deep presence in Iowa and Indiana will continue the close ties to our customer base and the broader agriculture community, while leveraging the existing corporate infrastructure and expertise we have in Delaware – DuPont’s home for more than 200 years,” DuPont CEO Ed Breen said.
The decision comes as a big relief to state leaders.
“This announcement is a win for Delaware,” Governor Jack Markell said. “DuPont and Dow made this decision because they recognized that Delaware, with its top quality workforce, access to major cities, and proximity to key global markets, is the ideal location for the headquarters of the globalized, 21st century business that they intend to create.”
The DowDuPont merger still has to be approved by regulators. The companies hope to close the deal by the end of 2016. The split into three separate companies is expected within the next two years.