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Koch Completes INVISTA™ Acquisition

Wichita, Kan.-based Koch Industries Inc. subsidiaries KED Fiber Ltd. and KED Fiber LLC have completed their acquisition of INVISTA Inc., the fiber and intermediates subsidiary of Wilmington, Del.-based DuPont. The deal, worth $4.2 billion, includes the assumption of debt and certain joint venture and equity interests.Invista will operate out of four business centers: Corporate management, the Polymers and Resins leadership team, and an Intermediates core team will be based in Wichita. Apparel, Performance Fibers, research and development, and some functional capabilities will be located in the Wilmington area. Textile Fibers leadership and some functional capabilities will be located near Charlotte. The Interiors business will be based near Atlanta.

"The new Invista has many capabilities, recognized brands and an innovative team, and we believe our long-term outlook is excellent," said Jeff Walker, CEO, Invista. "Our focus for the near future is to enhance this business's ability to create superior value for our global customers. We believe that this combination of Invistas strengths, primarily in nylon and spandex, and [Koch subsidiary] KoSa's polyester capabilities will position us to compete successfully in the global resins and fibers markets."

June 2004