March 16, 2006 |
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.
January 12, 2006 |
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.
April 13, 2004 |
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.
November 18, 2003 |
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.
August 12, 2003 |
Chemical company DuPont Co. said Monday that it was in talks to sell its textiles and interiors unit, known for the Lycra sportswear and apparel fabric, to privately owned Koch Industries Inc. Analysts have valued the unit at about $5 billion. The sale is part of DuPont's reorganization plans, which it launched early last year. The company is in the process of eliminating 2,000 jobs and trying to achieve annual cost savings of about $120 million.
October 4, 2002 |
DuPont Co. said its third- quarter profit would be better than expected. Excluding certain expenses, profit would be 35 to 37 cents a share, compared with $142 million, or 13 cents, a year earlier. DuPont's previous forecast of 24 cents a share in July was lower than analysts' estimate of 34 cents. DuPont shares rose 43 cents to $37.74 on the NYSE.