DuPont and Sabanci Holding Finalize Expanded Industrial Nylon Global

DuPont and Sabanci Holding Finalize Expanded Industrial Nylon Global

Joint Venture Agreement

WILMINGTON, Del. and ISTANBUL, Turkey, Jan. 8 / PRNewswire / — DuPont (NYSE: DD) and Sabanci Holding today announced the completion of an agreement to further expand their multi-regional alliance for industrial nylon. The new 50/50 joint venture creates the world's leading global supplier of heavy decitex nylon industrial yarn and tire cord fabric with over 100KT capacity. DuPont-Sabanci International, LLC, started operations at year-end 2000 and will use the tradename of DUSA International (DUSA) with headquarters located in Wilmington, Del.

“DuPont and Sabanci have a long history of cooperation dating back more than 25 years, including the formation of the DUSA yarn manufacturing joint venture in Izmit, Turkey, in 1987,” said Guler Sabanci, DUSA chairperson. “Sabanci and DuPont share many core values which form the basis of our successful cooperation over the years. I am pleased to see this expansion of our alliance in industrial nylon.”

“DUSA International will operate as one global business dedicated to meeting the needs of its customers in tires, mechanical rubber goods, cordage, and webbing better than any other nylon supplier,” said Peter Hemken, chief executive officer of the new company. “This combination offers many benefits, among them the scale and resources to invest, renew and add value to our offerings for customers.”

The new company will operate with a total of eight manufacturing sites and estimated 2,300 employees worldwide. Manufacturing facilities are currently located in the United States, Turkey, Argentina, Brazil, Germany and Egypt. North American business will be a part of the DUSA International entity. KORDSA Sabanci DuPont, the European business created in 1999 through the merger of the two companies' businesses in Europe, will become a subsidiary of DUSA International. Concurrently, DUSA Brazil and DUSA Argentina, formed in 1999, will also become subsidiaries of DUSA International.

DuPont, with over 60 years in the nylon industry, and Sabanci, with almost 30 years experience supplying dipped fabric, will combine their manufacturing and technology experience to benefit DUSA International customers. A number of facility modernizations are planned, under way or recently completed. A state-of-the-art nylon manufacturing facility began operation in Izmit, Turkey, late last year, replacing capacity that was retired with the closure of the DuPont plant in Doncaster, U.K., in 1999. A new fabric-treating unit also began operation last year in Camacari, Brazil. Twisting and weaving facilities in Camacari and also in Berazategui, Argentina, are being modernized this year, and construction of a new treating unit in Berazategui has begun with startup planned early in 2002.

The Sabanci Group has combined revenues of $10 billion and is one of the two largest industrial and financial conglomerates in Turkey. The Group employs approximately 30,000 people and operates in such diverse businesses as tire and tire reinforcement materials, banking, insurance, textiles, chemicals, automotive, cement, food and retail. The Group has grown both through expansion of existing businesses and by the formation of 50/50 joint ventures with multinationals such as Toyota, DuPont, Bridgestone, Philip Morris, Danone, Bekaert, CBR, Carrefour, Kraft foods International, BNP, Dresdner Bank and International Paper.

DuPont is a science company, delivering science-based solutions that make a difference in people's lives in food and nutrition; health care; apparel; home and construction; electronics; and transportation. Founded in 1802, the company operates in 70 countries and has 94,000 employees.

Forward-Looking Statements: This news release contains forward-looking statements based on management's current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like “expects,” “anticipates,” “plans,” “intends,” “projects,” “indicates,” and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in DuPont's filings with the Securities and Exchange Commission, particularly its latest annual report on Form 10-K, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions of countries in which the company does business; competitive pressures; successful integration of structural changes, including acquisitions, divestitures and alliances; research and development of new products, including regulatory approval and market acceptance, and seasonality of sales of agricultural products.

Source: DuPont

Contact: Cheryl Parker, DuPont, 302-992-2566, or cheryl.parker@usa .dupont.com;

or Arzu Cekirge Paksoy, Sabanci Holding, 90-212-282-5637, or ACekirge@sa.com.tr



Web site: http://www.dupont.com