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.
February 14, 2006 |
For home cooks and professional chefs, Teflon might be the best kitchen innovation since sliced bread became a cliche. A pan with the nonstick coating makes easy-to-lift omelets and cleans up like a dream. The concept of a cooking surface so smooth that nothing sticks has even leapt into the political lexicon. An American leader who weathered scandal and criticism became known as the Teflon president.
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.
December 15, 2005 |
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.
December 6, 2005 |
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.
April 27, 2005 |
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.