DuPont Confirms Negotiations With Koch Industries On Possible Sale of DuPont Textiles & Interiors
WILMINGTON, Del., Aug. 11, 2003 DuPont today announced that it is in exclusive negotiations with subsidiaries of Koch Industries Inc., of Wichita, Kansas, regarding the possible sale of DuPont Textiles & Interiors (DTI). The company informed employees today that Koch representatives would be visiting DTI sites as part of the due diligence process.
On April 14 DuPont announced that it was engaged in preliminary negotiations to sell DTI, but did not name Koch.
Given the ongoing nature of the discussions, DuPont said it would not provide any additional information at this time. There can be no assurance that the negotiations will result in an agreement being reached or, if an agreement is reached, of the terms, conditions or timing of any potential transaction. DuPont does not intend to make any further public announcement unless and until a definitive agreement has been signed or discussions have been terminated.
DuPont is a science company. Founded in 1802, DuPont puts science to work by solving problems and creating solutions that make people’s lives better, safer and easier. Operating in more than 70 countries, the company offers a wide range of products and services to markets including agriculture, nutrition, electronics, communications, safety and protection, home and construction, transportation and apparel.
Forward-Looking Statements: This news release contains forward-looking statements based on management's current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like "expects," "anticipates," "plans," "intends," "projects," "indicates," and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by DuPont, particularly its latest annual report on Form 10-K and quarterly report on Form 10-Q, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw materials, research and development of new products, including regulatory approval and market acceptance; and seasonality of sales of agricultural products.