10 March 2004 21:54 [Source: ICIS news]
HOUSTON (CNI)--DuPont's chemical solutions unit expects to grow through new product innovation, acquisitions and expansion in emerging regions, one of its top executives said Wednesday.
Nick Fanandakis, vice president and general manager of DuPont chemical solutions enterprise (DCSE), told analysts in a teleconference that the unit's 2003 revenues of $4.1bn (Euro3.3bn) rose 17% over 2002.
To continue its growth, the unit will focus on four growth initiatives - clean and disinfect, environmental solution, performance lubricants and surface protection, he said.
Continued Fanandakis: "We expect to build on our core competencies, providing new or well established channels to the marketplace. We're looking to refocus our efforts in emerging regions."
For example, he said, one of the growth areas for the unit is refining alkylation technology.
Last year DuPont purchased the alkylation assets of Stratco including technology, intellectual property and global customer base to complement DuPont's refinery solutions business.
Fanandakis said the oil refining industry needs to replace methyl tertiary butyl ether (MTBE) - an octane enhancer and oxygenate for gasoline that has been found in groundwater.
He added: "We see this as a global opportunity. We will help to solve the tough challenges they face in a safe, cost effective way."
Fanandakis noted that the North American region accounts for about 75% of sales, adding "the challenge is to focus in other regions."
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