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DU PONT SELLS PLASTIC BOTTLE RECYCLING BUSINESS TO ITW

DU PONT SELLS PLASTIC BOTTLE RECYCLING BUSINESS TO ITW
 WILMINGTON, Del., June 15 /PRNewswire/ -- Du Pont (NYSE: DD) and Illinois Tool Works Inc. (NYSE: ITW) have announced agreement for ITW to acquire the assets of the Plastics Recycling Alliance, a Du Pont subsidiary engaged in recycling post-consumer plastic bottles.
 Terms of the agreement were not announced.
 The sale involves assets of two post-consumer recycling plants, one in Philadelphia and one in Chicago. ITW is planning to concentrate on recycling plastic that will be used in the manufacture of its industrial and consumer packaging products.
 ITW, with headquarters in Glenview, Ill., is a worldwide manufacturer of engineered components, industrial systems and consumables, with annual revenues of more than $2.6 billion.
 Du Pont launched the PRA in 1989 as a joint venture with Waste Management Inc., which relinquished its interest in 1991. Although Du Pont is one of the largest plastic producers, it is not a major supplier of bottle resins. However, it was the first of the major resin producers to establish facilities to demonstrate large-scale, post- consumer bottle recycling. Other major resin producers soon joined to create a nationwide infrastructure of container recycling facilities.
 "As a result of efforts by Du Pont and our plastics industry colleagues, there appears to be ample bottle recycling capacity in place today," said Archie W. Dunham, senior vice president, Du Pont Polymers. He added, "It is now appropriate for Du Pont to focus its research on development of recycling technologies more closely related to our products and our customers' needs, as well as an increased emphasis on tertiary recycling technology." Tertiary recycling is any process by which polymers or precursors are reduced to their monomers. The material is then used to make new polymers or other useful products.
 Dunham highlighted a few of Du Pont's programs. The company recently built a 15-million pound commercial development facility at Old Hickory, Tenn. The facility employs a proprietary process to depolymerize polyester-based plastics into basic chemical building blocks and then repolymerize them into plastics for the same or new applications. The materials can be used in engineering, automotive and packaging applications.
 In February, Du Pont announced a recyclable plastic, "Bexloy" K, which will first appear on Chrysler's 1993 L/H cars as fenders. The fenders can be recycled through the new depolymerization process.
 Du Pont is recycling its X-ray and other imaging films, taking used film materials back from customers.
 The company is also developing processes to recycle nylon.
 /delval/
 -0- 06/15/92
 CONTACT: Art Mszanski of Du Pont, 302-774-0863, or Nancy Christopherson of ITW, 708-657-4195
 (DD ITW) CO: DU PONT; ILLINOIS TOOL WORKS INC. IN: CHM ST: DE,IL -- PH018 -- X527 06/15/92
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Publication:PR Newswire
Date:Jun 15, 1992
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