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BUSINESS
March 16, 1999 | From Reuters
In a move that could dramatically enhance the role genetics play in world food production, chemical giant DuPont Co. said Monday it would buy leading seed producer Pioneer Hi-Bred International Inc. in a $7.7-billion deal. The two companies signed a definitive agreement calling for a cash-and-stock merger that would give DuPont a new wholly owned unit with $5 billion in annual sales and a global marketing force devoted to the most fundamental of all agricultural products--seeds.
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BUSINESS
January 23, 2008 | From Times Wire Services
DuPont Co., the third-biggest U.S. chemical maker, said fourth-quarter profit excluding one-time items rose as increased sales of seeds and chemicals in emerging markets more than made up for weak demand from domestic home builders and automakers. Net income fell to $545 million, or 60 cents a share, from $871 million, or 94 cents, a year earlier. Excluding one-time items, profit rose to 57 cents a share from 45 cents a year earlier. The results topped the 50-cent average analyst estimate.
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BUSINESS
February 27, 1990 | From United Press International
Matsushita Electric Industrial Co. said it has signed an agreement with two subsidiaries of Du Pont Co. for joint development of materials for use by the electronics industry.
BUSINESS
December 12, 2006 | From the Associated Press
Chemical maker DuPont Co. is cutting 1,500 jobs as it restructures its agriculture and nutrition division, putting the $100 million it expects to save into its seed business, where it is in an increasingly tough battle with rival Monsanto Co. Monsanto has improved its dealer network, taking market share from DuPont's Pioneer Hi-Bred seed division in the important corn seed market. It is expected to continue to do so.
BUSINESS
December 5, 1992 | From Reuters
A group claiming to be victims of Benlate fungicide poisoning urged consumers Friday to boycott products made by E.I. Du Pont de Nemours & Co. Benlate Victims Against Du Pont, a group that includes farm workers, environmentalists, scientists and government officials, criticized Du Pont for its failure to compensate users of the company's Benlate fungicide. Du Pont said in a statement that its Benlate fungicide was not responsible for either crop losses or human health problems. On Nov.
BUSINESS
March 9, 1989 | From Reuters
An affidavit filed in a case stemming from a $10-million attempted extortion of Du Pont Co. shows stolen documents detailed company secrets for its spandex fiber. In the affidavit filed in U.S.
NEWS
November 20, 1991 | PATRICK J. McDONNELL, TIMES STAFF WRITER
Here, in a densely populated border city across the Rio Grande from Brownsville, Tex., the name of an infamous locale in India is heard with stunning frequency. "We don't want to be the next Bhopal," said Erasmo Lucio Garza, referring to the site of the 1984 toxic gas leak at a Union Carbide subsidiary that left almost 3,000 dead and 200,000 injured in the world's worst industrial accident.
BUSINESS
December 15, 2005 | Marla Cone, Times Staff Writer
Chemical giant DuPont Co. will pay the largest administrative fine in the history of the Environmental Protection Agency to settle charges that it hid information for more than 20 years indicating that a compound used to make Teflon poses a substantial threat to human health. Without admitting any guilt or liability, DuPont has agreed to pay $16.5 million, including a $10.
BUSINESS
August 25, 2001 | Associated Press
Claims by growers that they were victims of racketeering by DuPont Co. when they settled crop damage claims in the 1990s were discarded by a federal judge in Miami in a major legal victory for the chemical maker. The decision by U.S. District Judge Alan Gold on allegations that DuPont engaged in a high-level cover-up of a defective fungicide, coupled with earlier rulings dismissing fraud and all other claims, could end the cases, but an appeal is expected.
BUSINESS
July 3, 2001 | RANDALL CHASE, ASSOCIATED PRESS
Chemical giant DuPont Co. on Monday sharply curtailed its earnings estimate for the second quarter, blaming a global economic slowdown and a strong dollar. The company now estimates earnings for the second quarter will come in between 35 cents and 45 cents, down from 90 cents in the year-earlier quarter. Wall Street was expecting earnings of 53 cents, according to First Call/Thomson Financial.
BUSINESS
March 16, 2006 | From the Associated Press
Chemical maker DuPont Co. said it planned to cut 1,500 jobs and close four facilities in Europe in a restructuring of its performance coatings business. DuPont executives said the restructuring would reduce annual costs by about $165 million. The Wilmington, Del.-based company anticipates taking a pretax charge of as much as $165 million in the first quarter. The company also raised its profit guidance for the first quarter and the year.
BUSINESS
January 12, 2006 | From Associated Press
DuPont warned Wednesday that its fourth-quarter earnings would be less than half of what it had predicted because of the effects of last year's Gulf Coast hurricanes, worse-than-expected business performance and higher raw-material costs. The company also predicted that raw-material costs would rise further in 2006. The news sent Wilmington, Del.-based DuPont's stock down more than 3%. DuPont CEO and Chairman Charles O. Holliday Jr.
BUSINESS
December 15, 2005 | Marla Cone, Times Staff Writer
Chemical giant DuPont Co. will pay the largest administrative fine in the history of the Environmental Protection Agency to settle charges that it hid information for more than 20 years indicating that a compound used to make Teflon poses a substantial threat to human health. Without admitting any guilt or liability, DuPont has agreed to pay $16.5 million, including a $10.
BUSINESS
December 6, 2005 | Myron Levin, Times Staff Writer
A federal appeals court in San Francisco on Monday reinstated a string of racketeering suits that charge chemical giant DuPont with hiding evidence about a widely used fungicide so it could settle crop-loss cases on the cheap. The ruling by the U.S. 9th Circuit Court of Appeals was a victory for six nursery operators in Hawaii and a setback for E.I. DuPont de Nemours & Co., which has paid $1.
BUSINESS
April 27, 2005 | From Bloomberg News
Lockheed Martin Corp. said Tuesday that first-quarter profit rose 27% after margins widened in space and aircraft programs. The company raised its 2005 sales and earnings forecasts. Net income climbed to $369 million, or 83 cents a share, from $291 million, or 65 cents, a year earlier, the Bethesda, Md.-based company said. Sales rose 1.7% to $8.5 billion, the smallest gain in three years.
BUSINESS
December 24, 2004 | From Bloomberg News
DuPont Co., the second-largest U.S. chemical maker, accused home furnishings chain Bed Bath & Beyond Inc. of selling oven mitts that violate DuPont's trademarks on fibers used in the protective gloves. In a trademark infringement lawsuit, DuPont claims that Bed Bath & Beyond, the largest U.S. home furnishings retailer, and John Ritzenthaler Co., which makes the mitts, used DuPont's Kevlar and Nomex names without permission.
BUSINESS
October 25, 2001 | Bloomberg News
HCA Inc.'s third-quarter profit rose 47% as the biggest U.S. hospital chain attracted more patients and raised the prices it charges managed-care insurers. Net income rose to $256 million, or 48 cents a share, from $174 million, or 31 cents, a year earlier, the company said. Revenue rose 8.4% to $4.44 billion. Some investors were disappointed that profit only matched analysts' estimates, sending HCA's shares down 5.7%.
BUSINESS
June 26, 2002 | Reuters
DuPont Co. said second-quarter earnings would surpass analyst estimates, signaling a rebound in sales for a company that had been hurt by the economic slowdown. DuPont, based in Wilmington, Del., now expects to earn 64 cents to 67 cents a share in the second quarter, compared with its previous estimate of 55 cents and well above the 41 cents it earned in the period a year ago. Analysts on average had forecast earnings of 56 cents a share. Shares of DuPont rose 13 cents to $43.24 on the NYSE.
BUSINESS
April 13, 2004 | From Bloomberg News
DuPont Co., the second-biggest U.S. chemical maker, said it would fire 3,000 workers, eliminate 950 other jobs and shut a spandex plant in Canada as part of a plan to trim annual costs by $900 million. The job cuts, to be completed by Dec. 31, will reduce second-quarter earnings by 17 cents to 19 cents a share, Wilmington, Del.-based DuPont said, without providing an earnings estimate.
BUSINESS
November 18, 2003 | From Reuters
DuPont Co. will sell its clothing and carpet fiber business to Koch Industries Inc. for $4.4 billion in cash, exiting an industry hard hit by energy costs and stiff competition from Asia. DuPont called the transaction a "bittersweet milestone," since it ended the company's ownership of products such as Lycra and nylon, the groundbreaking synthetic fiber that DuPont scientists invented in the 1930s. The long-expected sale of the Invista unit is part of Wilmington, Del.
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