The insolvency administrator for the estate of the German filaments manufacturer Pedex GmbH & Co. KG, acting with the support of the creditors committee, has elected to pursue the sale of Pedex (Wald-Michelbach, Germany) to an alternative buyer.  DuPont Filaments was recently informed that an alternative offer would be pursued because it promised the opportunity to obtain quick clearance from the German Federal Cartel Office (FCO). 

In a ruling in March of last year, the FCO had issued a decision prohibiting the sale to DuPont.   In December 2006, the Düsseldorf Appeal Court (the German specialist court for competition law matters) reversed the decision of the FCO, ruling that the transaction should have been approved under German law. The FCO has since appealed this ruling. As a consequence, the purchase agreement reached by the trustee and DuPont Filaments in 2006 still required the final approval of the Supreme Court.

DuPont remained at all times fully committed to concluding this transaction as part of an overall strategy to reinforce its position as the leading global supplier of high performance filaments solutions, and to enhance its ability to serve and  meet its customers' needs globally.

As the market leader, DuPont will continue this strategy in order to serve the filaments industry through its well known brands – which include DuPont™ Tynex®, Tynex® A , Herox®, Chinex®, and Orel® – a broad product range, a global manufacturing capability, as well as its strong technology and  marketing organisations.

DuPont is a science-based products and services company.  Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere.  Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.

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The DuPont Oval Logo, DuPont™, The miracles of science™, and Tynex®, Herox®, Chinex® and Orel® are registered trademarks or trademarks of DuPont or its affiliates.

EP-EU-2007-03
April 2007