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Report: DuPont plans sale of cyanide business

2:50 PM MDT | October 17, 2013 | Lindsay Frost

DuPont plans to sell its cyanide business and has hired investment bank Morgan Stanley to run the sales process, according to recent Reuters report. Cyanide is commonly used in gold mining and could be worth $700.0 million, although Ebitda is said to be around $100.0 million, the report says.

DuPont has been moving away from commodity chemicals with increased focus on agriculture, nutrition, and industrial biosciences. The company sold its automotive coatings unit to The Carlyle Group in August 2012 for $4.90 billion.

Cyanide is produced at the company’s Memphis, TN, facility and the unit posted strong sales for third-quarter 2012. DuPont's earnings reports from the time says, "One bright spot was the continued robust demand in industrial chemicals for cyanide and aniline." However, fourth-quarter 2012 earnings for the company fell on weak TiO2 sales.

DuPont declined to comment.

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