As part of its strategy for sustainable growth, DuPont has announced actions aimed at enhancing its position in the highly competitive global coatings industry.
DuPont Coatings & Color Technologies aims to improve the productivity of its global business units by consolidating some of its assets and optimising processes, a company statement read. The division's platform includes the Performance Coatings and the Titanium Technologies businesses. These actions will result in the reduction of about 650 positions.
"These difficult but necessary actions will enable our businesses to improve customer focus while strengthening our business performance, and thus contribute more strongly to the company's goals of sustainable growth," said Edward J. Donnelly, group vice president of DuPont Coatings & Color Technologies.
DuPont estimates it will realise annual pretax savings of about $60 million (€60.2m) as a result of these actions. About one-third of this benefit will be realised in 2003, and the rest in 2004. During 2002, DuPont is celebrating its 200th year in business. Based in Delaware, US, the company delivers science-based solutions for markets that include the food and drink industries.