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DuPont And Akra-Teijin Cancel Letter Of Intent

DuPont and Akra-Teijin S.A. de C.V., recently discontinued talks on a joint venture to make and sell polyester filament yarn in the Americas.Akra-Teijin is the subsidiary company of Alpek S.A. de C.V., which is part of the Alfa Group, and Teijin.The companies signed a letter of intent in April 1999 to combine their polyester filament operations in the Americas in a 50/50 joint venture. (See "News," ATI, May 1999.)According to the companies, depressed market conditions throughout 1999 and the complexity of the U.S. market made it difficult to gain alignment on future direction.

June 2000