WILMINGTON, Del. (AP) -- DuPont has agreed to acquire sulfuric acid technology provider MECS Inc., expanding its reach into overseas markets that need the chemical to grow.
The Wilmington, Del., officially called E.I. du Pont de Nemours & Co., did not disclose financial terms of its deal with American Securities LLC, the current owner of MECS.
MECS's technology produces marketable sulfuric acid using sulfur produced as a byproduct of chemical processes such as refining oil. The sulfur otherwise would be released into the atmosphere and contribute to acid rain pollution.
DuPont has been producing compounds including sulfuric acid for more than 100 years. The company said adding MECS's technology will expand DuPont's offerings to refineries and other industrial customers.
DuPont said the deal will expand its available market for clean air and clean fuel products to $1 billion from $200 million. MECS's other clean technology products include air scrubbers, mist eliminators to reduce particulate emissions and heat recovery systems to stem energy usage.
Sulfur is the most widely used chemical in the world and is crucial to most industries, DuPont said. Demand for the acid tracks gross domestic product, so strong demand is expected in rapidly-growing markets in China, India, the Middle East and Africa, DuPont said.
Shares of DuPont were down 12 cents, at $47.08. in afternoon trading.
