DuPont Announces Kevlar® Expansion
WILMINGTON, Del., June 01, 2004 As a leader in the safety and protection market, DuPont today announced production expansion plans for its high-performance DuPont Kevlar® para-aramid. DuPont plans to invest over $70 million for the project and is beginning the equipment procurement process. The expansion will increase global Kevlar® capacity by more than 10 percent. The project is scheduled to come online in phases between late 2005 and the first half of 2006. The specific expansion locations will be finalized as required to meet the projected start-up dates.
This is the fourth expansion DuPont has made in Kevlar® para-aramid capacity since 2000 due to the growing customer demand for this unique, high-strength fiber that supports global safety and performance applications. In addition to the expansions, DuPont continues to increase capacity by optimizing the productivity of existing assets through the use of Six Sigma processes.
"Global demand for DuPont Kevlar® has soared with the need for safety and security worldwide," said William J. Harvey, vice president and general manager DuPont Advanced Fiber Systems. "In addition, new applications are being developed that harness the lightweight strength of Kevlar® fiber to enhance protection and performance. This capacity expansion is a critical step in growing the Kevlar® business, maintaining DuPont leadership in the performance fibers market, and delivering the innovation customers expect from DuPont."
Between 2000 and 2003, DuPont successfully completed three Kevlar® high-performance fiber expansion projects at its Richmond, Va., and Maydown, Northern Ireland, facilities. The 2003 expansion and this announced expansion both incorporate proprietary New Fiber Technology (NFT) developed and patented by DuPont.
DuPont Kevlar® combines high strength with lightweight and comfort with protection. Kevlar® brand fiber is five times stronger than steel on an equal weight basis, providing reliable performance and solid strength. It is this balance of unusual properties which is responsible for the broad range of Kevlar® applications from ballistic vests to cut-resistant gloves to new markets, such as tornado and blast-resistant structures.
Kevlar® is perhaps best known for its use in bullet- and stab-resistant body armor. Nearly 3,000 law enforcement officers have survived potentially fatal or disabling injuries because they were wearing personal body armor. In addition, every U.S. combat soldier has worn a helmet of DuPont Kevlar® since the Gulf War in 1991.
DuPont Kevlar® brand fiber enhances the lightweight strength of products in a wide variety of safety and high-performance applications, including body armor and protective apparel, performance materials, and consumer products. The business serves a global marketplace from offices in all major regions of the world and has manufacturing facilities in Northern Ireland, Japan and the United States.
DuPont is a science company. Founded in 1802, DuPont puts science to work by solving problems and creating solutions that make people's lives better, safer and easier. Operating in more than 70 countries, the company offers a wide range of products and services to markets including agriculture, nutrition, electronics, communications, safety and protection, home and construction, transportation and apparel.
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 documents filed with the Securities and Exchange Commission by DuPont, particularly its latest annual report on Form 10-K and quarterly report on Form 10-Q, 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, including inflation, interest and foreign currency exchange rates, of countries in which the company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw materials, research and development of new products, including regulatory approval and market acceptance; and seasonality of sales of agricultural products.
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06/01/04