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DuPont Forms TextilesandInteriors Subsidiary

DuPont FormsTextilesandInteriors SubsidiaryWilmington, Del.-based DuPont has formed DuPont TextilesandInteriors (DTI), a subsidiary that becomes the largest integrated textile fiber and interiors company in the world, according to DuPont.DTI will comprise two businesses, each with subgroups. TextilesandInteriors will include apparel, home and industrial, and flooring. Intermediates will include nylon; Terathane® and polyester intermediates, specialties and joint ventures.Upon formation of this subsidiary, we will become the largest player in the worldwide textile and interiors business with a portfolio of brands that is second to none, and it will enjoy the number-one position in the six markets that comprise 75 percent of its revenue, said Richard Goodmanson, executive vice president and COO, DuPont, and chairman, DTI.With the formation of the new subsidiary come new leadership appointments: DuPont ApparelandTextile Group Vice President and General Manager Steve McCracken Textiles and Interiors; and DuPont Chemicals and Polyester Group Vice President and General Manager George MacCormack Intermediates. Under McCracken and MacCormack, subgroups will be led by the following: Bill Ghitis apparel; Alan Wolk flooring; Carol Gee consumer brands; Dave Trerotola home and industrial; and Ken Wall nylons, intermediates and specialties.The new company will have the largest research and development budget in the industry, with $170 million earmarked for product and process innovation in 2002, according to DuPont.March 2002