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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 5(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported) May 24, 2001 (May 23, 2001)
E. I. du Pont de Nemours and Company
(Exact Name of Registrant as Specified in Its Charter)
Delaware 1-815 51-0014090
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
1007 Market Street
Wilmington, Delaware 19898
(Address of principal executive offices)
Registrant's telephone number, including area code: (302) 774-1000
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Item 5. Other Events and Regulation FD Disclosure.
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The Registrant files, pursuant to Regulation FD, its news release dated
May 23, 2001, entitled "DuPont Chief Operating Officer Addresses Goldman Sachs
Chemical Investors Forum," a copy of which is below. This news release is also
filed in connection with Debt and/or Equity Securities that may be offered on a
delayed or continuous basis under Registration Statements on Form S-3 (No. 33-
53327, No. 33-61339, No. 33-60069 and No. 333-86363).
Contact: Clif Webb
302-774-4005
r-clifton.webb@usa.dupont.com
DuPont Chief Operating Officer Addresses Goldman Sachs
Chemical Investors Forum
WILMINGTON, Del., May 23, 2001 - Richard R. Goodmanson, DuPont executive
vice president and chief operating officer, addressed industry analysts and
investors attending the Goldman Sachs Chemical Investors Forum today in Boca
Raton, Florida. Goodmanson discussed operational priorities for 2001 and
provided an assessment of the current business environment.
Goodmanson described the company's aggressive focus on business
fundamentals and execution as the best way to deal with the current downturn in
the economy and to prepare for an economic upturn when it occurs. Priorities
include accelerating differential business management strategies; strengthening
commitments to DuPont customers; executing cost controls and initiatives to
enhance productivity; and continuing strong accountability for leadership.
Goodmanson noted that even a difficult economy provides opportunities to
strengthen and grow DuPont businesses. For example, DuPont is taking advantage
of reduced media rates to increase consumer advertising; the company has
accelerated some of its investments in information technology at reduced unit
costs; and manufacturing maintenance has been
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rescheduled to take advantage of idle time and enable more sustained production
once the economy improves. DuPont also continues to invest for growth, as
evidenced most recently by its investment in the RiTEK Display Technology
Company.
In reviewing the current business environment, Goodmanson discussed salient
macroeconomic trends and forecasts, and he reinforced the company's earlier
statements that the economic outlook is too uncertain to predict when an upturn
will occur. During this review, Goodmanson shared some second quarter
observations from the company's businesses, including:
- For the first time in this downturn, demand in Europe has softened,
- North American demand for commercial and residential carpet has
declined,
- the North American architectural paint season is off to a very slow
start, and
- as an upstream supplier, DuPont is increasingly affected by the global
high tech slowdown that began to emerge last quarter.
"The U.S. manufacturing sector has been in recession since late last year,
and we have been very clear that we entered the second quarter of 2001 expecting
an environment at least as challenging as in the first quarter," Goodmanson
said. "Thus far in second quarter, we have seen further negative developments in
markets that are sensitive to discretionary spending - such as electronics,
automotive, and commercial and residential remodeling markets. Clearly, these
development increase the challenge."
Copies of his briefing are available through the DuPont Investor Relations
website, www.dupont.com/corp/ir.
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DuPont 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 93,000 employees.
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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 documents filed with the Securities and Exchange
Commission by DuPont, particularly its latest annual report on Form 10-K and
quarterly report on Form 10-Q, 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, including
inflation, interest and foreign currency exchange rates, of countries in which
the company does business; competitive pressures; successful integration of
structural changes, including restructuring plans, acquisitions, divestitures
and alliances; cost of raw materials, research and development of new products,
including regulatory approval and market acceptance; and seasonality of sales of
agricultural products.
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5/23/01
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
E. I. DU PONT DE NEMOURS AND COMPANY
(Registrant)
/s/ D. B. Smith
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D. B. Smith
Assistant Controller
May 24, 2001
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