DuPont talking to Koch on sale of textiles unit
By Furniture Today Staff -- Furniture Today, August 18, 2003
Wilmington, Del. — DuPont said it is negotiating the possible sale of its Textiles & Interiors unit to subsidiaries of Koch Inds.
The DTI unit includes its nylon, polyester and Lycra fiber businesses.
In April, DuPont said it was in preliminary negotiations to sell DTI but did not name the potential purchaser.
"There will be no changes in DTI's operations. We will keep on the track we have been on," said Dave Tretrola, DTI vice president of home and industrial textiles.
He added that DuPont had looked at other options to separate DTI from the corporation's other businesses, including an initial public stock offering, but that Koch now "has the exclusive on a purchase basis."
