Koch Industries mulls buying DuPont's textiles, interiors business

WILMINGTON, Del. (Aug. 12)—DuPont Co. is in "exclusive negotiations" with Koch Industries Inc. of Wichita, Kan., regarding the possible sale of DuPont's textiles and interiors business, the Delaware firm told investors and employees Aug. 11. Koch representatives will visit DuPont Textiles & Interiors sites as part of the due diligence process, according to DuPont. There is, however, no assurance the talks will lead to an agreement with Koch, it added. DuPont announced plans in February 2002 to divest the business by year-end 2003. The business has annual sales of $6.5 billion and includes DuPont's spandex polyurethane fiber, nylon and polyester textile units. DTI claims to have around 40 percent of the spandex market, which it estimates at about 260,000 metric tons per year worldwide. Koch Industries is a partner in KoSa, the U.S.-Mexican joint venture that controls the former Hoechst Trevira and Celanese industrial fiber activities.