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DuPont Announces Exclusive Agreement of Toyobo's PBO for Emergency Response Market

DuPont's use of PBO staple fiber will enable the development and supply of next-generation firefighter garments


News provided by

DuPont

Mar 31, 2020, 02:00 ET

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WILMINGTON, Del., March 31, 2020 /PRNewswire-PRWeb/ -- DuPont Specialty Products Kabushiki Kaisha, through its Safety & Construction business (DuPont), announced it has reached a joint agreement with TOYOBO CO., LTD. (Toyobo) in which DuPont secures the exclusive global marketing and distribution rights of PBO staple fiber to the Emergency Response (ER) market. Financial terms of the agreement were not disclosed.

The global market for firefighter clothing is expected to continue to grow thanks in part to expanding markets in China and India. With this new agreement, DuPont will work to support the development of new, innovative protective clothing fabrics for the ER market that will take advantage of the combined individual characteristics of DuPont™ Kevlar®, Nomex® and PBO staple fiber.

The need for functional, comfortable and durable PPE has never been more paramount in the ER industry and we are proud to manufacture and provide the latest protective apparel to ER teams to ensure they are confident about their safety when addressing the community’s safety.

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Toyobo and DuPont are confident that the use of PBO staple fiber will enable the development and supply of next-generation firefighter garments that are functional, lightweight, durable and possess super heat-resistant properties.

"We're excited to partner with Toyobo; working together to innovate on behalf of firefighters and emergency response teams," said John Richard, Vice President & General Manager at DuPont Safety & Construction. "The need for functional, comfortable and durable personal protective equipment has never been more paramount in the ER industry and we are proud to manufacture and provide the latest protective apparel to ER teams to ensure they are confident about their safety when addressing the community's safety."

PBO features one of the world's highest levels of strength, tensile modulus and flame resistance among organic fibers and has been used in the high-performance outer shell application for more than 10 years. With DuPont and Toyobo's partnership solidified, DuPont will leverage PBO to complement the company's high-performance outer shells for firefighter turnout gear.

For more than 50 years, DuPont has been committed to helping protect firefighters and other first responders with science-based innovations such as Kevlar® and Nomex® fibers, which provide proven protection, durability and comfort from the inside out.

About DuPont Safety & Construction

DuPont Safety & Construction is a global leader in delivering innovation for life's essential needs in water, shelter and safety; enabling its customers to win through unique capabilities, global scale and iconic brands including Corian®, Kevlar®, Nomex®, Tyvek®, GreatStuff™, Styrofoam™ and Filmtec®.

About DuPont

DuPont (NYSE: DD) is a global innovation leader with technology-based materials, ingredients and solutions that help transform industries and everyday life. Our employees apply diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets including electronics, transportation, construction, water, health and wellness, food and worker safety. More information can be found at http://www.dupont.com.

Cautionary Statement Regarding Forward Looking Statements

This communication contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," "target," and similar expressions and variations or negatives of these words.

On April 1, 2019, the company completed the separation of its materials science business into a separate and independent public company by way of a pro rata dividend-in-kind of all the then outstanding stock of Dow Inc. (the "Dow Distribution"). The company completed the separation of its agriculture business into a separate and independent public company on June 1, 2019, by way of a pro rata dividend-in-kind of all the then outstanding stock of Corteva, Inc. (the "Corteva Distribution").

On December 15, 2019, DuPont and IFF announced they had entered definitive agreements to combine DuPont's Nutrition & Biosciences business with IFF in a transaction that would result in IFF issuing shares to DuPont shareholders, pending customary closing conditions, other approvals including regulatory and that of IFF's shareholders.

Forward-looking statements address matters that are, to varying degrees, uncertain and subject to risks, uncertainties and assumptions, many of which that are beyond DuPont's control, that could cause actual results to differ materially from those expressed in any forward-looking statements. Forward-looking statements are not guaranties of future results. Some of the important factors that could cause DuPont's actual results to differ materially from those projected in any such forward-looking statements include, but are not limited to: (i) the parties' ability to meet expectations regarding the timing, completion and accounting and tax treatments of the proposed transaction with IFF; changes in relevant tax and other laws, (ii) failure to obtain necessary regulatory approvals, approval of IFF's shareholders, anticipated tax treatment or any required financing or to satisfy any of the other conditions to the proposed transaction with IFF, (iii) the possibility that unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies that could impact the value, timing or pursuit of the proposed transaction with IFF, (iv) risks and costs and pursuit and/or implementation of the separation of the N&B Business, including timing anticipated to complete the separation, any changes to the configuration of businesses included in the separation if implemented, (v) risks and costs related to the Dow Distribution and the Corteva Distribution (together, the "Distributions") including (a) with respect to achieving all expected benefits from the Distributions; (b) the incurrence of significant costs in connection with the Distributions, including costs to service debt incurred by the Company to establish the relative credit profiles of Corteva, Dow and DuPont and increased costs related to supply, service and other arrangements that, prior to the Dow Distribution, were between entities under the common control of DuPont; (c) indemnification of certain legacy liabilities of E. I. du Pont de Nemours and Company ("Historical EID") in connection with the Corteva Distribution; and (d) potential liability arising from fraudulent conveyance and similar laws in connection with the Distributions; (vi) failure to effectively manage acquisitions, divestitures, alliances, joint ventures and other portfolio changes, including meeting conditions under the Letter Agreement entered in connection with the Corteva Distribution, related to the transfer of certain levels of assets and businesses; (vii) uncertainty as to the long-term value of DuPont common stock; (viii) potential inability or reduced access to the capital markets or increased cost of borrowings, including as a result of a credit rating downgrade and (ix) other risks to DuPont's business, operations and results of operations including from: failure to develop and market new products and optimally manage product life cycles; ability, cost and impact on business operations, including the supply chain, of responding to changes in market acceptance, rules, regulations and policies and failure to respond to such changes; outcome of significant litigation, environmental matters and other commitments and contingencies; failure to appropriately manage process safety and product stewardship issues; global economic and capital market conditions, including the continued availability of capital and financing, as well as inflation, interest and currency exchange rates; changes in political conditions, including tariffs, trade disputes and retaliatory actions; impairment of goodwill or intangible assets; the availability of and fluctuations in the cost of energy and raw materials; business or supply disruption, including in connection with the Distributions; ability to effectively manage costs as the company's portfolio evolves; security threats, such as acts of sabotage, terrorism or war, global health concerns and pandemics, natural disasters and weather events and patterns which could result in a significant operational event for DuPont, adversely impact demand or production; ability to discover, develop and protect new technologies and to protect and enforce DuPont's intellectual property rights; unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as management's response to any of the aforementioned factors. These risks are and will be more fully discussed in DuPont's current, quarterly and annual reports and other filings made with the U.S. Securities and Exchange Commission, in each case, as may be amended from time to time in future filings with the SEC. While the list of factors presented here is considered representative, no such list should be considered a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on DuPont's consolidated financial condition, results of operations, credit rating or liquidity. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. DuPont assumes no obligation to publicly provide revisions or updates to any forward-looking statements whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements is included in the section titled "Risk Factors" (Part I, Item 1A) of DuPont's Annual Report on Form 10-K as updated by DuPont's subsequent periodic and current reports filed with the SEC.

# # #

3/31/2020

DuPont™, the DuPont Oval Logo, and all trademarks and service marks denoted with ™, ℠ or ® are owned by affiliates of DuPont de Nemours, Inc. unless otherwise noted.

SOURCE DuPont

Related Links

http://www.dupont.com

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