January 5, 1986 |
About four years ago, Du Pont Co., normally one of the most cautious and deliberate of American corporations, stunned Wall Street by leaping headlong into a fierce three-way fight for Conoco Inc., the Stamford, Conn., oil company. Du Pont, of course, was victorious. It bested rivals Mobil Corp. and Seagram Co. Ltd. with a staggering bid of $7.7 billion and absorbed Conoco in what was, at the time, the largest corporate merger ever. But Du Pont paid another price as well. When the smoke had cleared, Seagram, the Canadian-based liquor distiller, was left holding 20 percent of Du Pont's common stock.
September 17, 1986 |
U.S. Trade Representative Clayton Yeutter yesterday said that a new round of world trade talks, under way in Uruguay, is seriously jeopardized by a stalemate on the issue of services trade, which he blamed on Brazil and India. Yeutter, commenting during the second day of a 92-nation trade conference in Uruguay, said little progress had been made so far. Instead, he said, harsh disagreements had developed among the trading partners. The United States and most other industrialized nations want a new round of trade talks to result in a lowering of barriers on services such as banking, airline travel and telecommunications as well as more traditional forms of trade.
April 28, 1988 |
Strong demand, efficient operating rates and firm prices for Du Pont Co.'s chemical operations helped generate record profits for the Wilmington company in the first quarter. All of Du Pont's principal chemical units - agricultural and industrial chemicals, fibers and polymer products - contributed to the gains. The company also benefited from better financial performance by its Conoco energy unit. Conoco reported improvements in margins for oil refining and marketing. Lower costs boosted profits from Conoco's petroleum exploration and production activities.
October 25, 2011
TO QUOTE your misleading editorial: "But no one yet has shown real evidence that regulations cause a net loss of jobs or harm the economy. " You didn't look hard enough. Right here in our back yard a hodgepodge of regulations are threatening 20,000 jobs. I speak of the announced shutdown of the Sunoco and Conoco refineries in Trainer and Marcus Hook. According to Gene Barr, president and CEO of the Pennsylvania Chamber of Business and Industry, in Harrisburg, and a former employee of the Conoco refinery: "The myriad of regulations dictating the composition of gasoline, diesel and other products along with other requirements on emissions has forced the industry to spend massive sums of money to comply.
July 28, 1987 |
Philadelphia Electric Co. said yesterday that its earnings were down sharply in the second quarter, in part because of an order from the Nuclear Regulatory Commission shutting down the Peach Bottom nuclear plant at Delta in York County after control-room operators were found sleeping on the job. The NRC shut down the Peach Bottom plant on March 31. The company said in April that it expected the closing would cost it about $5 million a month in...
April 25, 1986 |
Du Pont Co. yesterday reported that its first-quarter earnings rose substantially from the 1985 quarter as a result of several recent economic trends. Sales, however, declined slightly. The Wilmington-based company said it was benefiting from a stronger demand for chemical products, the weaker dollar and more favorable currency-exchange rates, lower interest rates and improved margins for refined petroleum products. Net income for the quarter was $404 million or $1.67 per share.
January 29, 1987 |
Du Pont Co. reported record income for 1986, but earnings per share fell short of the $6.42 peak achieved in 1979. Strong performance by the company's chemical and specialty-products businesses more than offset weakness in its energy operations. Though sales for the chemical and specialty units rose 5 percent, after-tax operating income for these units doubled. Results were boosted by a general improvement in the domestic economy, the beneficial effect of the weaker dollar on international sales and lower raw-material costs.
July 25, 1986 |
Du Pont Co. yesterday reported record quarterly earnings despite a 6 percent decline in sales. The company said that its second-quarter income jumped 41 percent to $456 million or $1.88 per share from $323 million or $1.33 per share in the 1985 period. Sales, however, fell to $6.91 billion from $7.35 billion as a result of lower petroleum prices. Sales were 7 percent higher for Du Pont's chemical and specialty-products businesses, but 20 percent lower for its Conoco energy subsidiary.
January 5, 1987 |
For most of this century, Du Pont has grown primarily by exploiting materials and technology developed by its scientists. The company regularly ranks among country's top spenders on research. Despite its bias toward internally generated growth, acquisitions have played a key role at times in the long history of the company. Several of Du Pont's most important products were obtained as a result of acquisitions rather than its own research. By the 1850s, Du Pont found it no longer could supply distant customers economically from from its gunpowder mills along the Brandywine River.
April 28, 1987 |
The Du Pont Co. reported a small decline in first-quarter earnings on sales that were nearly flat. Strong gains by the company's chemical and specialty products businesses were offset by the weak performance of its Conoco energy subsidiary. Du Pont said that sales for the chemical and specialty products units increased 8 percent. After-tax operating income jumped 55 percent to $393 million. Among these businesses, fibers, white pigments and polymer products accounted for the largest gains in earnings.