DuPont, Koch in talks for DTI
Home & Textiles Today Staff -- Home Textiles Today, August 18, 2003
DuPont has announced that it is in exclusive negotiations with subsidiaries of Koch Inds. regarding the possible sale of its DuPont Textiles & Interiors (DTI) business.
On April 14, DuPont announced that it was engaged in preliminary negotiations to sell DTI but did not name the potential purchaser.
DuPont also stated it would not provide any additional information at this time. It will not make any further public announcement unless and until a definitive agreement has been signed or discussions have been terminated.
Dave Tretorola, DTI vp of home and industrial textiles added, "There will be no changes in DTI's operations. We will keep on the track we have been on."
He added that when DuPont announced it would separate DTI from its other business, "there were other separation options including an IPO and other spinoffs. Kock has the exclusive on a purchase basis."
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