The Turkish group will buy DuPont’s half share in DuPontSA

Sabanci is to buy DuPont’s half share in the DuPontSA polyester joint venture, giving the Turkish group 100% ownership of the $1bn-plus (E800m) turnover concern. No financial details have been disclosed for the deal, which requires regulatory approvals.

DuPont and Sabanci formed the DuPontSA organisation five years ago when DuPont merged its polyester business in Europe with that of the diversified Turkish major, which has 35,000 employees. The two companies had been long standing partners in a nylon yarn business.

DuPontSA has more than 1.3 million tpa of capacity for polyester feedstocks, fibre and PET resins. Its network includes the former ICI monomer and polymer plants at Wilton, UK. It also has extensive interests in Turkey, including a plant and R&D facilities at Adana.

Sabanci Holding chief executive Celal Metin said: “Based on DuPontSA’s state of the art technology, globally recognised brands and talented international workforce of 3,500, we foresee profitable growth ahead for DuPontSA.”