19 July 2002 20:16 [Source: ICIS news]
HOUSTON (CNI)--DuPont is in a great position for growth, chairman and chief executive officer (CEO) Charles Holliday told investors Friday.
Speaking in New York City on the company' 200th anniversary, Holliday said DuPont is strategically aligned to grow its businesses in key markets that value its technology.
He added: "Our financial discipline serves us well. There is clarity on where we have placed our bets for growth. And our leadership is focused and motivated to deliver that growth."
Holliday noted "significant" steps have been taken to meet the company's goals of higher and more sustainable earnings growth and improved returns on invested capital.
Said Holliday: "This systematic step-by-step process is enabling a 'new DuPont' to take shape. I am confident we will deliver on the growth targets we have set for ourselves and will create sustained value for our shareholders."
Holliday said DuPont is continuing to pursue growth along three strategic avenues:
DuPont recently announced plans to separate its nylon, polyester and Lycra spandex fibres businesses by the end of 2003 with the formation of DuPont Textiles & Interiors (DTI).
DuPont core businesses are now aligned under five market and technology-based growth platforms: electronic and communication technologies; performance materials; coatings and colour technologies; safety and protection; and, agriculture and nutrition.
Holliday said DuPont has set a goal to generate one third of its revenue from new products based on a five year rolling average.
Wilmington, Delaware-based DuPont will announce its second quarter financial results 24 July
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