DU PONT TO INVEST IN NYLON CAPACITY IN U.S.
DU PONT TO INVEST IN NYLON CAPACITY IN U.S. WILMINGTON, Del., May 7 /PRNewswire/ -- Du Pont (NYSE: DD) today
announced a plan to make its textile nylon business more competitive in the apparel marketplace.
The company anticipates investing $140 million this year as the first step in a $1.5 billion, 10-year program to build new state-of-the- art nylon capacity, primarily in the United States. The plan will be funded by cash generated from textile nylon operations. In conjunction with the plan, Du Pont's textile nylon business began an ongoing cost reduction and quality improvement program in mid-1991. "Du Pont's long-term strategy is to maintain our position as the premier textile nylon supplier in the United States, while growing our share and strengthening our position in Europe and Asia Pacific," said James F. Heslep, worldwide business director, textile nylon. "This investment to improve competitiveness of our United States capacity, coupled with our recently announced intent to acquire ICI's European-based nylon business and our $1 billion nylon investment in Asia Pacific over the next 10 years, reinforces the corporate commitment to textile nylon as a core Du Pont business," Heslep said. The initial investment will be targeted for Du Pont's plant in Camden, S.C., for warp knit and hosiery end uses. Plans for the remainder of the investment are being developed. /delval/ -0- 5/7/92 /CONTACT: J.J. Pryor of Du Pont, 302-999-5291/ (DD) CO: Du Pont ST: Delaware IN: CHM SU:
JS -- PH012 -- 7549 05/07/92 11:00 EDT
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|Date:||May 7, 1992|
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