May 3 2004
DuPont and subsidiaries of Koch Industries, Inc. today finalized the sale of INVISTA, formerly DuPont Textiles & Interiors, for $4.2 billion, including the assumption of debt and certain joint venture and equity interests covered under a non-binding letter of intent. Ownership will transfer at 5 p.m. EDT.
Going forward, the company will conduct business as ,a href=http://www.invista.com target=”_new”>INVISTA.
"The new INVISTA has many capabilities, recognized brands and an innovative team, and we believe our long-term outlook is excellent," said Jeff Walker, INVISTA's chief executive officer. "Our focus for the near future is to enhance this business' ability to create superior value for our global customers. We believe that this combination of INVISTA's strengths, primarily in nylon and spandex, and KoSa's polyester capabilities will position us to compete successfully in the global resins and fibres markets."
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