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DUPONT ACQUIRES ICI'S INTEREST IN EUROPEAN AUTOMOTIVE OEM FINISHES VENTURE

 TROY, Mich., Jan. 12 /PRNewswire/ -- DuPont and ICI today announced that the two companies have agreed that DuPont will acquire ICI's 50-percent interest in IDAC, one of the top four automotive OEM finishes suppliers in Europe. The two companies did not disclose financial terms of the agreement.
 IDAC will continue to operate under its present name as a wholly owned DuPont subsidiary for the development, manufacture and supply of automotive OEM finishes in Europe.
 Under terms of the preliminary agreement, DuPont will assume sole responsibility for the operation of the venture, its employees and assets including manufacturing, research and headquarters operations in Bonn, Germany. IDAC will retain its license for "Aquabase," a waterborne original equipment basecoat technology which is increasingly being adopted by European automakers to reduce assembly plant air emissions.
 IDAC, formed as an automotive finishes joint venture between DuPont and ICI in 1988, is a major supplier to automakers throughout Europe. In addition to its headquarters in Bonn, IDAC maintains principal offices in Belgium, UK, France, Hungary, Spain and Sweden.
 The IDAC name, originally derived from an acronym for ICI-DuPont Automotive Coatings, now will stand for "International DuPont Automotive Coatings."
 -0- 1/12/94
 /CONTACT: Terrence Q. Cressy of DuPont, 313-583-8102; or Klaus M. Dienst of IDAC, 011-49-228-714-335/


CO: DuPont; ICI ST: Michigan IN: AUT SU: TNM

KE -- DE003 -- 1325 01/12/94 10:00 EST
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Publication:PR Newswire
Date:Jan 12, 1994
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