Sabanci Completes DuPontSA Polyester Deal

03 December 2004

Istanbul's Sabanci Holding has completed its purchase of DuPont's 50% shareholding in DuPontSA, becoming the sole owner of the Europe-based polyester business.

""We are delighted with the completion of this important acquisition, which adds more than USD$ 1 billion in revenue to Sabanci Holding and gives us a reach throughout Europe,"" said Dr Celal Metin, CEO of Sabanci Holding and chairman of DuPontSA. I congratulate our fine team who managed to obtain all governmental approvals and close this transaction ahead of schedule.""

DuPontSA CEO Wahid Tawfik, added: ""DuPontSA will retain exclusive rights in Europe, the Middle East, Africa, Russia and the CIS countries to all our current technology, patents, brands and trademarks for polyester fibres, resins and intermediates.""

DuPontSA has annual revenues of more than US$ 1 billion and is a leading integrated producer of polyester fibres, resins and intermediates in Greater Europe. At its production sites in Wilton (U.K.), Uentrop (Germany) and Adana, Kurtkoy and Inegol (Turkey), it has manufacturing capacity of over 1.3 million tonnes per annum of PTA, DMT, polyester filaments, polyester staple, PET Resin and Preform.

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