SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported) September 15, 1999
E. I. du Pont de Nemours and Company
(Exact Name of Registrant as Specified in Its Charter)
Delaware 1-815 51-0014090
(State or Other Jurisdiction (Commission (I.R.S Employer
of Incorporation) File Number) Identification No.)
1007 Market Street
Wilmington, Delaware 19898
(Address of principal executive offices)
Registrant's telephone number, including area code: (302) 774-1000
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Item 5. Other Events
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In connection with Debt and/or Equity Securities that may be offered
on a delayed or continuous basis under Registration Statements on Form S-3
(No. 33-53327, No. 33-61339 and No. 33-60069), the registrant hereby files the
following press release.
Contact: Susan Gaffney
(302) 774-2698
Bill Brown
(302) 992-2566
REVISED DUPONT NYLON STRATEGY
CALLS FOR REDUCED ASIAN GROWTH
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WILMINGTON, Del., Sept. 15 -- As part of its shift in strategy for
the nylon business to selective growth with a more intense focus on improving
profitability, reducing capital intensity and increasing free cash flow,
DuPont Nylon today confirmed its intention to reduce its growth objectives in
the Asia Pacific region.
As a result, DuPont expects that the ongoing capital requirements for
the global nylon fibers and intermediates businesses should total about
50 percent of the peak spending level reached in 1997. In addition, DuPont
intends to exit from selected nylon ventures and postpone or cancel more than
$600 million in anticipated capital projects for the region.
DuPont expects to take on a one-time noncash after-tax charge in the
third quarter of up to 35 cents per diluted share of common stock. This
charge results from the planned exit from the ventures noted above and also
includes a writedown of DuPont's adipic acid plant in Singapore. Although
DuPont will continue to operate this facility, the excess of its net book
value over its fair market value will be written off.
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 65 countries and has 92,000 employees.
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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 state-
ments 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, regula-
tions, policies and economic conditions of countries in which the company does
business; competitive pressures; successful integration of structural changes,
including acquisitions, divestitures and alliances; failure of the company or
related third parties to become Year 2000 capable; research and development of
new products, including regulatory approval and market acceptance.
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9/15/99
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
E. I. DU PONT DE NEMOURS AND COMPANY
(Registrant)
/s/ D. B. Smith
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D. B. Smith
Assistant Controller
September 15, 1999
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