DuPont De Nemours Inc., a leading materials and chemicals manufacturer, is reportedly in advanced negotiations to divest its Delrin resins unit to private equity firm The Jordan Company, with the deal estimated at approximately $1.8 billion.

Citing sources familiar with the matter, Bloomberg News revealed this development on Sunday.

The Jordan Company is poised to unveil the deal’s announcement as early as this week, though no final verdict has been reached and discussions are susceptible to potential breakdowns.

Earlier this month, DuPont raised its 2023 sales projections, anticipating a surge in demand for its materials that contribute to the production of a diverse array of products, including automotive components and semiconductors. This strategic maneuver indicated the company’s optimistic outlook on market dynamics. Contrarily, in May, DuPont had asserted its intention to abstain from engaging in any M&A transactions within the next year.

Delrin acetal homopolymer, a product from DuPont, finds application in demanding mechanical contexts like gears, safety restraints, healthcare delivery devices, and other high-load systems. It is employed across various industries, including automotive and healthcare, due to its exceptional performance characteristics.