UPDATE 6/2/2014 6:00 PM
A big company transaction for DuPont becomes official.
Monday, Kuraray announced their acquisition of DuPont's laminated glass Butacite unit. The Japanese chemical company recently bought the unit for $543 million.
DuPont Washington Works management says Butacite employees will remain at the Wood Co. plant, but they'll now work for Kuraray.
UPDATE 1/27/2014 4:30 PM
Local management at DuPont says they're focused on helping employees transition following some big recent company transactions.
Washington Works plant manager Karl Boelter spoke at the Parkersburg Rotary Club's meeting Monday afternoon at the Blennerhassett Hotel.
Boelter talked about the chemical giant's future globally and here at home.
DuPont recently sold their butacite unit to a Japanese chemical company for $543 million.
The deal means a handful of Washington Works employees will remain at the Wood County plant, but they'll be working for Kuraray, not DuPont.
"We want to be sure we maintain open transparent communication with all our employees and as I said, the future success of Washington Works depends on the success of each of the individual businesses that operate on the site," he says. "So our real objective is to ensure that those businesses are set up for success."
Boelter says the sale to Kururay is expected to be finalized this summer.
DuPont is also bringing a performance chemicals spinoff company to the Washington Works site.
That's expected to be complete by summer of 2015.
DuPont sold its glass laminating solutions and vinyl business to a Japanese company and that does affect the Washington Works Plant.
The Wood County plant operates a unit for that end of the business.
Officially DuPont sold that unit, commonly know as Butacite, to a company called Kuraray for a grand total of $543 million.
Here at home less than five percent of people work in that part of the operation.
Plant manager Karl Boelter says this means both short and long term benefits for not only the workers at the plant but also DuPont's future.
"Selling Butacite to Kuraray is a good fit," he says. "This is core to what Kuraray as a company is about. They have a global presence and the capability of investing, that makes it a good fit."
Right now DuPont doesn't anticipate any loss of employment.
The plan is to transition those current workers over to Kuraray.
Boelter says this is the first time one of the company's assets is being sold, but sees both global companies working together.