DuPont announced recently that it is in exclusive negotiations with subsidiaries of Koch Industries, attempting to sell its DuPont Textiles and Interiors subsidiary, which includes the Corfree line of corrosion inhibitors.
DuPont, of Wilmington, Del., disclosed the talks with Koch Aug. 11. Three months earlier it had announced preliminary discussions but not named the potential buyer.
In the most recent announcement, DuPont emphasized that it may not reach an agreement with Koch and said it would not comment further on the matter. Koch made no statement regarding the discussions. The Wichita, Kansas-based company entered the lubes industry earlier this month when its subsidiary, Flint Hills Resources Inc., bought Shell Oil Co.s 50 percent stake in the Excel Paralubes base oil joint venture.
DuPont Textiles and Interiors supplies a wide range of polymer chemicals and intermediates to a variety of industries. The Corfree products are part of the C12 family of intermediates marketed by the subsidiary for applications such as lubricants, coatings, adhesives, flame retardants and fragrances. Most of DuPonts lubricant business, which operates under the Krytox brand, is not part of Textiles and Interiors, nor is its Teflon brand PTFE.