DuPont agrees to sell Invista to Koch Industries

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Wilmington, Del.--DuPont and Wichita, Kan.-based Koch Industries announced Monday that they have reached a definitive agreement to sell Invista, formerly DuPont Textiles & Interiors, to subsidiaries of Koch for $4.4 billion in cash.

The two subsidiaries are KED Fiber Ltd. and KED Fiber LLC. Invista, which has 18,000 employees, had 2002 revenue of $6.3 billion and includes such brands as Lycra and Stainmaster.

DuPont Chairman-CEO Charles O. Holliday, Jr., said the deal was designed to improve DuPont’s ability to provide growth for shareholders.

"This is a major milestone in the ongoing transformation of DuPont," Holliday said in a statement. He added, "Now that one of the most significant changes in our 201-year history is moving toward completion, we can focus on positioning DuPont for growth."

--Sean Callahan

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