Beginning with the third quarter 2012, DuPont will classify and report results of DPC as discontinued operations on a retroactive basis. DuPont expects 2012 full-year earnings from discontinued operations to be in the range of $.41 to $.47 per share. Full-year 2012 guidance was last updated on and as of July 24, 2012, and is not being updated today. The company will begin providing full-year 2012 guidance from continuing operations when it issues its third quarter earnings announcement on Oct. 23.
DuPont plans to eliminate general corporate overhead costs that were previously allocated to DPC but are not part of the transaction. Additional details will be provided during DuPont’s third quarter earnings announcement. As part of the transaction, Carlyle will assume $250 million of DuPont’s unfunded pension liabilities. DuPont will use the net after-tax proceeds of this sale in a manner consistent with its cash deployment principles and goal to maximize shareholder value creation.
Carlyle’s industrial and automotive investments include Allison Transmission, Hertz and PQ Corporation, as well as recent commitments to invest in Hamilton Sundstrand Industrial, Sunoco’s Philadelphia refinery and regional rail freight operator Genesee & Wyoming.
Investors’ WebcastDuPont will host a webcast and slide presentation for shareholders, investors and the media today at 9:00 a.m. EDT, accessible through the DuPont Investor Center at www.dupont.com. About DuPont Performance Coatings Founded in 1922 and headquartered in Wilmington, Del., DuPont Performance Coatings is the leading global manufacturer, marketer and distributor of advanced coating systems primarily for the transportation industry. The company comprises four segments: refinish, OEM, industrial liquid and powder. With a consistently premium product, the firm is considered to be one of the highest quality paint providers in the auto refinish, OEM and liquid coatings market. The company operates manufacturing sites on six continents, serving customers in 120 countries directly and through 4,000 distributors.