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DuPont Takes Aggressive Actions to Strengthen Competitiveness and Increase Cash Flow
Date:12/4/2008

ons to deliver in 2009 $600 million in fixed cost productivity improvements, excluding volume and currency, in addition to about $130 million in cost reductions from its restructuring plan. This compares to an original 2009 cost productivity plan of $200 million.
  • DuPont has commenced a restructuring plan with an associated pre-tax charge of about $500 million in the fourth quarter resulting in a pre-tax earnings increase of about $130 million for 2009, and approximately a $250 million annual run rate.
  • The company expects a loss of $.20 to $.30 per share for the fourth quarter 2008, excluding an estimated $.40 per share significant item charge for the company's restructuring plan. On a reported basis, the company expects fourth quarter earnings to be a loss of $.60 to $.70 per share.
  • Full-year 2009 earnings are expected to be about $2.25 to $2.75 per share.
  • Restructuring Plan

    DuPont's plan is intended to better position a number of its market-leading global businesses for future growth. Approximately 2,500 employee positions will be eliminated, principally in businesses that support the motor vehicle and construction markets in Western Europe and the United States. In addition, certain assets will be rationalized to improve future competitiveness. A pre-tax charge totaling approximately $500 million, or $.40 per share, will be taken in the fourth quarter 2008 for the restructuring plan. These actions are expected to produce a pre-tax earnings increase of about $130 million for 2009 and about a $250 million annual run rate.

    Accelerated Cost and Working Capital Productivity

    DuPont is accelerating productivity programs started earlier this year to deliver $600 million fixed cost pre-tax earnings benefit and $1 billion in net working capital reduction in 2009. Specific actions include reduci
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    SOURCE DuPont
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