1,300 jobs, six plants to be cut by DuPont

Article Abstract:

DuPont Co. has announced that it will cut back 1,300 employees from its performance coatings operations located in Wilmington, Penn. DuPont, which is undergoing a massive restructuring program after acquiring the Herberts paint unit for $1.8 billion from Germany-based Hoechst AG, will shut down plants in Latin America and Europe. DuPont has cut about 3,5000 employees from its various operations in streamlining plans intended to cut costs by $400 million.

Labor force information, Plant shutdown, Chemicals & Allied Products, Chemical Manufacturing, Pennsylvania, Chemicals, E.I. du Pont de Nemours and Co.

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Venture veteran turns to chemical spin-off

Article Abstract:

Fred Rullo has partnered with former colleages from Freedom, Arco Chemical and Mellon Ventures to start Penn Specialty Chemicals Inc. Penn Specialty Chemicals has existed since Dec. but came to life this month with the acquisition of a urethanes business from Great Lakes Chemical Corp. Penn Specialty shares office space with Mellon Ventures, the venture capital arm of Mellon Bank that provided the bulk of the financing for the deal.

Strategy & planning, Executive changes & profiles, Basic Chemical Manufacturing, Organic Chemicals, Organic compounds, Penn Specialty Chemicals

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