DuPont de Nemours Inc (NYSE:DD) Q4 2014 Earnings Conference Call - Final Transcript

Jan 27, 2015 • 09:00 am ET


DuPont de Nemours Inc (NYSE:DD) Q4 2014 Earnings Conference Call - Final Transcript


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Ed Breen

filed their annual reports with the Commission in February.

In December, we said that we expect the combined company to realize $3 billion in cost synergies. Each company has chartered a dozen formal business and functional integration and synergy planning teams to develop detailed, execution-ready plans to ensure we can quickly integrate the companies post merger and capture our anticipated costs and growth synergies.

The functional teams include legal, sourcing, logistics, supply chain, HR, finance, IT, faculties among others. All of these teams are focused on planning for seamless business operations on day one after the merger and quickly capturing our planned synergies. These teams are chartered to ensure we plan to leverage the most effective operating models, channels to market and industry best practices upon the creation of DowDuPont.

Just a few examples of the planning work the teams are doing include reviewing our warehouse and facilities footprint, evaluating IT platforms for savings and developing integration plans for our transactional processes. As announced, we intend to pursue the separation of DowDuPont into three separate public companies after our merger is complete, an agriculture company, a material science company, and a specialty products company. We are doing all that we can now to expedite the timing of the spins including beginning work on the carve-out financial statements for the separate companies.

In conclusion, 2016 is a pivotal and transformation year for DuPont as we accelerate our value creation work, invest in our core franchises and position our businesses for competitive future. We will give you regular updates on our progress.

Now, I'll turn the call back over to Greg.

Greg Friedman

Thanks, Ed. We'll open the line for questions now. John, if you would please give the instructions?