Koch seeks to buy DuPont textile business

? Koch Industries said Monday it was exclusively negotiating with DuPont for the purchase of DuPont Textiles & Interiors, the latest in a series of major acquisitions by the Wichita-based company.

It was first time DuPont has named Koch as a potential buyer since its April 14 announcement that it was engaged in preliminary negotiations for the sale of DTI. Dupont, based in Wilmington, Del., said in a news release it would not provide any additional information on the deal because of the ongoing talks.

Koch Industries spokeswoman Mary Beth Jarvis said the combination of DTI and Koch’s own polyester production subsidiary, KoSa, would be a “huge step in realizing our vision for Koch Industries.”

If the deal is finalized, Koch would get a diversified and integrated company in the worldwide fiber industry, she said.

In 1998, Koch bought a 50 percent ownership in KoSa — one of the largest polyester production firms in the country. Koch bought it out entirely two years ago.

Koch wants to capitalize on DTI’s very strong brands, such as Lycra and Stainmaster, while bringing to the company its approach and experience in business, Jarvis said.

The public announcement on the DuPont deal paves the way for Koch’s onsite inspection at DTI’s facilities.

DTI has plants in South Carolina, North Carolina, Texas, Tennessee, Delaware and Virginia as well as overseas in the Netherlands, Canada, United Kingdom, Ireland, German, Brazil and Singapore.

KoSa has plants in South Carolina, North Carolina, Mexico and Germany.

Jarvis said Koch would be looking at ways to “gain efficiencies” in the two operations, but said it was too early to talk about how the purchase might affect employment numbers or plants. The deal is not expected to affect Kansas much because neither DTI nor KoSa has plants in the state.

If the DuPont deal is finalized, it would be the latest in a string of major acquisitions by privately held Koch Industries.

Jarvis acknowledged Koch is now in an acquisition mode, citing its double-A credit rating and its financial strength.

“We have taken a lot of time and effort in the last few years to ensure we are as efficient as we can be,” she said.