DuPont considers sale of automotive paint business

DuPont has hired Credit Suisse to advise on the sale of its performance coatings division, according to a Reuters news report. The business could be worth $3 billion to $4 billion.

DuPont might just the OEM component, keeping the more-lucrative paint refinishing business, according to Telly Zachariades, a chemical industry mergers and acquisition specialist at the Valence Group who is not involved in the deal.

Potential buyers for all or part of the performance coatings business could include PPG Industries , BASF or AkzoNobel.

DuPont's performance coatings unit has enjoyed an excellent trading year with sales up 17 percent in the third quarter alone.