Alliance
Tate & Lyle PLC
1 August 2000
Tate & Lyle and DuPont
Announce Joint Development Agreement
LONDON, August 1, 2000 - Tate & Lyle Citric Acid, a subsidiary of UK-based
Tate & Lyle PLC, and DuPont's Bio-Based Materials business today announced
that they have entered into a joint development agreement that is a
significant step towards manufacturing advanced polymers from renewable
sources.
The two companies have agreed to develop the process that turns a carbohydrate
base into 1-3 propanediol (PDO). This is then used to manufacture DuPont
SoronaTM, the most advanced polymer platform in DuPont's science portfolio
with a wide range of applications such as textiles, upholstery fabrics and
resins.
This agreement furthers DuPont's efforts to produce PDO from renewable sources
such as corn starch and creates a new opportunity for Tate & Lyle to add value
to carbohydrates.
'This is an excellent fit with our global carbohydrates business and an
important opportunity to advance our strategy of growing through developing
new value-added products,' said Larry Pillard, chief executive, Tate & Lyle.
'This alliance represents another step forward in our ability to commercially
produce PDO from corn starch or other low cost fermentable carbohydrates which
are renewable sources,' said Ellen J. Kullman, DuPont group vice president and
general manager. 'We bring the microorganism, market knowledge and process
technology to the alliance, while Tate & Lyle brings bio-chemical and
fermentation expertise, site infrastructure and access to raw materials.'
It is expected that a pilot plant for the process will be completed by
year-end. 'The goal of the pilot plant is to help ensure that the process and
economics benefit both parties before a manufacturing facility is built by
2003,' concluded Kullman.
The Tate & Lyle Group (www.tateandlyle.com) is a global leader in carbohydrate
processing. Operating in some 50 countries, the Group's brands and high
quality ingredients add value to consumer products around the world. Using
fermentation technology and carbohydrate raw materials, Tate & Lyle Citric
Acid is the world's largest citric acid producer.
DuPont (www.dupont.com) is a science company, delivering science-based
solutions that make a difference in people's lives in food and nutrition;
health care; apparel; home and construction; electronics; and transportation.
Founded in 1802, the company operates in 70 countries and has 94,000
employees.
For further information please contact:
Chris Fox
Tate & Lyle - UK
020-7977-6234
chris.fox@tateandlyle.com
Irv Lipp
DuPont - USA
302- 774-7447
G-Irvin.Lipp-1@USA.dupont.com
Website for SoronaTM at www.dupont.com/sorona
Forward Looking Statements: This news release contains forward-looking
statements based on management's current expectations, estimates and
projections. All statements that address expectations or projections about
the future, including statements about the company's strategy for growth,
product development, market position, expected expenditures and financial
results are forward-looking statements. Some of the forward-looking
statements may be identified by words like 'expects,' 'anticipates,' 'plans,'
'intends,' 'projects,' 'indicates,' and similar expressions. These
statements are not guarantees of future performance and involve a number of
risks, uncertainties and assumptions. Many factors, including those discussed
more fully elsewhere in this release and in DuPont's filings with the
Securities and Exchange Commission, particularly its latest annual report on
Form 10-K, as well as others, could cause results to differ materially from
those stated. These factors include, but are not limited to changes in the
laws, regulations, policies and economic conditions of countries in which the
company does business; competitive pressures; successful integration of
structural changes, including acquisitions, divestitures and alliances;
research and development of new products, including regulatory approval and
market acceptance, and seasonality of sales of agricultural products.