31-Oct-2000 - DuPont

DuPont Combines Apparel and Textile Businesses Into New $3 Billion Global Unit

WILMINGTON, Del., Oct. 30, 2000 -- DuPont today announced the integration of its apparel, home textiles and related businesses into a new market-focused global organization to be called DuPont Apparel and Textile Sciences.

DuPont's Lycra® elastane, Nylon textile and Dacron® branded specialties and fiberfill businesses will become a single unit, effective Jan. 1, 2001. The new unit will capitalize on DuPont's global brand franchise, technical expertise, operational scale and market knowledge to provide a more streamlined and competitive offering. The current combined revenue of these businesses is $3 billion.

"Our vision is to create consumer preference and loyalty to help grow our customers' offerings by linking DuPont science with the promise of our brands," said Steven R. McCracken, DuPont group vice president, who will lead the new organization. "Working with DuPont will be easier and more efficient. In addition, we'll be able to simply and quickly translate complex market needs into value differentiating offerings. We see this move as a 'win-win' proposition for our customers, our value-chain partners, and DuPont shareholders."

DuPont Apparel and Textile Sciences will provide a world-class integrated market platform that will allow better linkage between the marketplace and DuPont technologies. DuPont was at the forefront of the synthetic fiber revolution with the invention of nylon in 1938. Today, DuPont's stable of branded textile fibers has the highest consumer recognition of any fiber producer. The new organization will operate globally with a single face to the market, recognizing and responding to regional market requirements. The combined organization will have approximately 10,000 employees and dedicated marketing, technical and manufacturing operations in every region of the world.

"Our approach may have changed, but our primary purpose remains to create and grow shareholder value by delivering superior value to our customers, both short- and long-term," said McCracken. "We believe this centralized market approach will provide economies of scale and scope, enable us to build stronger partnerships with our customers and better deliver the constant flow of 'newness' our global markets demand."

DuPont is a science company, delivering science-based solutions that make a difference in people's lives in food and nutrition, healthcare, apparel, home and construction, electronics, and transportation. Founded in 1802, the company operates in 70 countries and has 94,000 employees.

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