(Reuters) -DuPont de Nemours Inc said on Tuesday it would buy engineering materials technology maker Rogers Corp for $5.2 billion, to capitalize on surging demand in markets such as electric vehicles, 5G telecommunications and clean energy.
The company also said it plans to sell a substantial portion of its mobility & materials segment, primarily in the engineering Polymers and performance resins lines of business as well as its stake in the DuPont Teijin Films joint venture.
Combined, these businesses represent about $4.2 billion in annual revenue, Dupont said.
Dupont has benefited from a rebound in the auto and chip-making industries this year from the pandemic-led slump, but rising costs and supply constraints pose a risk to the recovery.
The company also reported a 33% rise in third-quarter adjusted profit.
Adjusted net income rose to $599 million, or $1.15 per share, in the quarter, from $449 million, or 61 cents per share, a year earlier.
(Reporting by Arathy S Nair in Bengaluru;Editing by Sriraj Kalluvila)
