Invista, DuPont reach settlement agreement in three lawsuits
By ADVOCATE STAFF REPORT
Sept. 17, 2010 at 4:17 a.m.
Invista and DuPont signed a settlement agreement that resolved three existing lawsuits between the companies, they announced this week.
The suits pertain to polymers and adiponitrile technologies, as well as disputes related to supply agreements, according to a news release issued by both companies.
The issues, which involve DuPont's Performance Polymers business and Invista's intermediates business, date back to 2004, when Invista separated from DuPont and sold to subsidiaries of Koch Industries, according to the release.
Terms of the agreement were not released but the settlement lays out the companies' rights and obligations in creating long-term value for customers and the nylon, 6,6 industry, according to the release.
Representatives with Victoria's Invista site deferred comment to the company's corporate office. Corporate spokeswoman Jodie Stutzman declined further comment on the settlement or its effects on the Victoria site.
Nate Pepper, a spokesman with DuPont, also declined comment, citing terms of the settlement.