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Dupont



             nylon business and ICI acquired DuPont's acrylics business. This strengthened the.
             company's position in the global nylon business while divesting a business that no.
             longer fit its portfolio. .
             Another major factor in the transformation of the company in the1990s was.
             the focus on reducing costs and improving productivity. This was necessary to.
             give the company the flexibility for competitive pricing and to grow market share and.
             earnings. .
             DuPont had strong plants in several countries around the world for many.
             years, and their globalization trend continued in the 1990s. New plants opened in.
             Spain, Singapore, Korea, Taiwan, and China, and a major technical service center.
             opened in Japan. In 1994, a Conoco joint venture began producing oil from the Ardalin.
             Field in the Russian Arctic--the first major oil field brought into production by a.
             Russian/Western partnership since demise of the Soviet Union.
             A further major development was the redemption of 156 million DuPont shares.
             from Seagram for $8.8 billion in cash and warrants --- one of the largest.
             stock redemptions in history. This large block of shares was redeemed at a 13.
             percent discount to market price. While DuPont later sold some new shares, there are 18.
             percent fewer shares currently outstanding than just prior to the redemption. This resulted.
             in a significant opportunity for wealth creation for our stockholders. The share.
             redemption was made possible by four years of cost reduction, productivity improvement.
             and organizational change that have made DuPont strong financially and allowed.
             them to move decisively and quickly. .
             The DuPont that emerged from the company's transformation in the 1990s has.
             often been described by people inside and outside the company as "the new.
             DuPont." This characterization is only partly appropriate, because while DuPont has.
             changed, there are many things that remain the same. The core competency in science and.
             technology, the commitment to safety, the concern for people, the feeling of community,.


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