DuPont has agreed to sell its Invista textiles unit, which makes nylon and spandex, to two Koch Industries subsidiaries for $4.4 billion in cash. The transaction with KED Fiber Ltd. and KED Fiber LLC is expected to close in the first half of 2004, subject to government approval.
DuPont Chairman and CEO Charles O. Holliday Jr. said the sale of Invista, which includes DuPont's nylon, polyester and Lycra fiber businesses, marks one of the most significant changes in the company's 201-year history.