DuPont (Wilmington, Del.) announced completion of the previously-announced sale of its Biomaterials business unit, effective May 31, 2022, to the Huafon Group (Ruian, China) for a purchase price of approximately $240 million. 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 and more.
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.