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DUPONT ENGINEERING POLYMERS AND WUXI XINGDA NYLON CO., LTD. PROPOSE JOINT VENTURE
As a leading global producer of filaments, the joint venture will provide a broad offering of brush filaments meeting the needs of customers worldwide. After regulatory approvals are obtained, the proposed joint-venture business will operate as three legal entities: DuPont Xingda Filaments Co., Ltd.; DuPont Filaments Europe, BV; and DuPont Filaments Americas, LLC. Ownership for each legal entity will be 70 per cent DuPont and 30 percent Xingda. The new venture is scheduled for start-up in the fourth quarter of 2003, and will be staffed with approximately 500 employees serving customers’ filament needs in more than 60 countries worldwide. DuPont, a leading premium filament supplier, and Xingda, China’s largest toothbrush filament supplier, will form a manufacturing network in the United States, the Netherlands and China with a broad range of product, technology, sales and marketing, customer service, and supply chain capabilities to meet customer needs all over the world. The new joint venture will globally market filaments for toothbrushes, paintbrushes, cosmetics, as well as those in abrasive and specialty industrial segments. Popular DuPont trademarks for these products include Tynex®, Tynex® A, Chinex® and Orel® filaments. 'DuPont is pleased to form this joint venture with Wuxi Xingda,” said Terry Caloghiris, vice president and general manager, DuPont Engineering Polymers. “It reinforces our commitment to growth in the filaments business and the global marketplace. This is an important step in meeting our goals to expand our filament offerings to better meet customer needs. Our global marketing resources and market access, together with Xingda’s flexible manufacturing capability, will strategically position this new business for long-term growth. It will provide an expanded differentiated portfolio of nylon and polyester based filament product and service offerings that will further strengthen DuPont’s current global position as a preferred performance filament provider.' 'We welcome our new partner DuPont and look forward to building from our well-established position in China,' said Yin Xinzhong chairman and CEO of Wuxi Xingda. “It is really our pleasure to partner with one of the global leaders of premium filaments. We see this as a great opportunity and look forward to our partnership with DuPont to further grow our business to a new horizon.” John W. Locklear, currently global business manager of DuPont Filaments business, will be chief executive officer. Cynthia T. Crouch will be the global marketing director.
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