DuPont Chairman & CEO Updates Investors on Strategies to Accelerate Growth in Shareholder Value
Company’s leaders address actions to deliver results in 2006
Wilmington, Del., February 16, 2006, In an investor briefing webcast yesterday, DuPont Chairman & CEO Charles O. Holliday, Jr., told investors that the company is taking the actions needed to deliver on its commitments to grow revenue, accelerate shareholder value and advance its research and development pipeline for future growth.
“We are off to a good start this year,” Holliday said. “While natural gas and certain raw material costs have recently come down from record high levels, we continue to expect our energy and ingredient costs for the year to be more than last year. We are taking actions to extend our pricing momentum and accelerate cost productivity.”
Holliday said that both production lines at the company’s DeLisle, Miss., titanium dioxide plant are now operational and are ramping up to full production capacity as planned. This plant was the last remaining facility to start up after the Gulf Coast hurricanes of 2005.
He also told investors that the company is making progress on the commitments it made in October of last year to accelerate shareholder value. Specifically, the company is shifting capital and costs away from its underperforming businesses and is on track to achieve $1 billion in cost savings over three years as it continues to bring down fixed costs as a percentage of sales.
Holliday said the company continues to increase its return on R&D innovation that is building competitive advantage for DuPont. The company’s R&D pipeline is growing stronger across all of its growth platforms and, in particular, in its newest technology platform, DuPont Bio-Based Materials.
“Our employees around the globe are intensely focused on delivering results in 2006,” Holliday said.
In a separate investor briefing, Erik Fyrwald, Group Vice President - DuPont Agriculture & Nutrition, addressed actions underway to deliver results now and position the platform’s businesses for continued future growth.
Briefing materials and audio replays of both presentations are available at www.dupont.com in the DuPont Investor Center.
DuPont Senior Vice President and Chief Technology Officer Thomas M. Connelly will address investors on February 22 and will provide an update on the actions the company has taken to increase its return on innovation. Connelly also will update investors on the percent of DuPont sales from new products in 2005.
Briefing materials and an audio replay of Connelly’s presentation will be available on February 22 at www.dupont.com in the DuPont Investor Center.
DuPont is a science 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, nutrition, electronics, communications, safety and protection, home and construction, transportation and apparel.
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