15 October 2004
15 October 2004
Sabanci Holding is to acquire DuPont's 50% stake in the DuPontSA polyester fibres, resins and intermediates business.
DuPontSA will retain exclusive licenses in Europe, the Middle East and Africa, Russia and the CIS countries to all its current technology, patents and trademarks.
DuPontSA, established in 1999 by as a joint venture between the two companies, has annual revenues of more than US$1 billion and is a leading integrated producer of polyester fibres, resins and intermediates in Europe. At its production sites in Wilton, UK, Uentrop, Germany and Adana, Kurtkoy and Inegol in Turkey, DuPontSA has manufacturing capacity of over 1.3 million tonnes annually of PTA, DMT, polyester filaments, polyester staple, PET resin and preform. DuPontSA also has state-of-the-art research and development facilities in Adana and marketing offices in Paris, Barcelona and Milan.
"DuPontSA is a true leader in its target markets in the dynamic polyester industry and we are pleased with this acquisition," said Dr Celal Metin, CEO of Sabanci Holding.
"Based on its state-of-the-art technology, globally recognised brands and talented international work force of 3,500, we foresee profitable growth ahead for DuPontSA and benefit to the entire industry through the delivery of superior products and services."
"We believe that Sabanci is positioned to achieve excellent business results from DuPontSA going forward and, as DuPont moves on from polyester, we will continue to look for business opportunities to partner with Sabanci where complementary capabilities exist," said Richard R. Goodmanson, DuPont's executive vice-president and CEO.
Sabanci Holding is one of Turkey's largest industrial groups. Employing over 35,000 people in 66 companies, it has interests in chemicals and fibres, as well as banking and insurance, food, retail, textiles, energy, cement, automotive, tyres and tyre reinforcement materials, telecommunications, paper and packaging materials.
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