Global science company DuPont has reported 2016 sales of US$24.6 billion, down 2% compared to the prior year reportedly due to a 1% negative impact from currency and a 1% decline in local price.
Fourth-quarter sales were US$5.2 billion, down 2%.
Growth in Performance Materials, Electronics & Communications and Industrial Biosciences was more than offset by declines in Agriculture, due to timing of fourth-quarter seed sales primarily due to the southern US route-to-market change, according to DuPont.
‘2016 was an important year for DuPont as we exceeded our expectations for earnings, cost savings, operating margin expansion and free cash flow improvement,’ said Ed Breen, chairman and CEO of DuPont. ‘We made excellent progress on our strategic priorities in 2016 to increase shareholder value, and we will build on this groundwork as we move into 2017. We look forward to closing the merger with Dow and are continuing to have constructive discussions with regulators in key jurisdictions. We now expect the merger to close in the first half of 2017, pending regulatory approval.’
This story uses material from DuPont, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.