DuPont may have buyer for its textile subsidiary
By Furniture Today Staff -- Furniture Today, April 21, 2003
Wilmington, Del. — DuPont may have a buyer for its subsidiary DuPont Textiles & Interiors, which includes DuPont's nylon, polyester and Lycra brand fiber businesses.
The chemical giant disclosed the negotiations with an unnamed third party about the possible sale as part of the offering circular published last week regarding its tender offer to purchase the 25% of DuPont Canada stock that it does not already hold. DTI represents a substantial portion of DuPont Canada's business and operations.
When DuPont created the DTI subsidiary in February 2002, the chemical giant announced its intention to consider a full range of options, including an initial public offering of stock, to spin off the subsidiary by the end of 2003.
