DuPont Automotive Coatings Unit and Kansai Paint To End Joint Venture Relationships

OSAKA, Japan and TOKYO, Dec. 19, 2003 -- DuPont and Kansai Paint, Ltd., have agreed to amicably terminate their automotive coatings joint venture relationships due to incompatible global strategies, Marty M. McQuade, vice president and general manager of DuPont Herberts Automotive Systems and Katsuya Sera, president of Kansai Paint Company, Ltd., announced today.

DuPont and Kansai operate three joint ventures that provide coatings to Japanese auto makers in North America and the United Kingdom. They are: DuPont Kansai Automotive Coatings Company, formed in 1990, headquartered in Troy, Mich.; Pinturas Automotorices DuPont Kansai, S.A. de C.V., formed in 1990 and headquartered in Mexico City, Mexico; and DuPont Kansai Automotive Coatings (U.K.) Ltd., formed in 1997 and headquartered in Hemel Hempstead, U.K. The joint ventures were formed to supply and service the automotive coatings needs of Japan-headquartered auto companies for their operations in the U.K. and North America. The joint ventures will continue to service customers for a one- to two-year transition period.

DuPont is the leading worldwide supplier of automotive original equipment and aftermarket finishes with technical and manufacturing facilities in all of the major car producing regions of the world. By meeting and exceeding requirements for styling, durability, application productivity and environmental performance, the company achieves its mission of "leadership in customer satisfaction and service."

DuPont is a science company. Founded in 1802, DuPont puts science to work by solving problems and creating solutions that make people's lives better, safer and easier. Operating in more than 70 countries, the company offers a broad range of services to markets including agriculture, nutrition, electronics communications, safety and protection, home and construction, transportation and apparel.

Kansai Paint, founded in 1918, is a leading company in the paint industry in Japan. Adhering to its motto -- "Contribute to Society by Providing Customers with Satisfying Products and Services" -- the company has grown to become Japan's most advanced paint manufacturer and is now recognized as a world leader for its technologies and service network. It is supplying a variety of products ranging from automotive and industrial coatings to decorative and household paints at home and abroad. Kansai Paint has been a market leader in automotive coatings both in Japan and Asia.