DUPONT ANNOUNCES AGREEMENT WITH ASAHI CHEMICAL INDUSTRY CO., LTD.
WILMINGTON, Del., June 15 /PRNewswire/ -- DuPont (NYSE: DD) announced today a cooperative agreement with Asahi Chemical Industry Co., Ltd., to study ways to strengthen the nylon businesses of both companies in the Asia Pacific region. The agreement, which is the first between the two companies, was signed on June 10 in Japan by DuPont Chairman Edgar S. Woolard Jr. and Asahi President Reiichi Yumikura. "Our goal is to bring the complementary strengths in nylon of both Asahi and DuPont together in a way that will enable both companies to better serve their customers in Asia Pacific," said Jerry Blumberg, senior vice president -- DuPont Nylon. "This cooperative effort also will enable DuPont to more effectively bring its global capability to these very important markets." DuPont has previously announced plans to invest $1 billion during the 1990s in an integrated nylon production system in the Asia Pacific region. The plans include an adipic acid plant scheduled for completion in 1994 and a polymerization plant for "Zytel" nylon 6,6 resin in Singapore, and other plants strategically located for the production of adiponitrile and hexamethylenediamine. Last month, the company announced the formation of DuPont Nylon, a $3.7 billion business that will serve diverse markets and customers worldwide. The company's nylon segments -- Textile Nylon, Industrial Nylon, Flooring Systems, Nylon Resins, and Nylon Intermediates and Specialities -- are combined in the vertically integrated organization. /delval/ -0- 6/15/93 /CONTACT: William J. Brown of DuPont, 302-999-5892/ (DD)
CO: DuPont; Asahi Chemical Industry Co., Ltd. ST: Delaware IN: CHM SU: JVN
MK -- PH003 -- 2004 06/15/93 09:59 EDT
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|Date:||Jun 15, 1993|
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