Business News
DuPont 2009 Cost Reduction & Productivity Progress
Wednesday 22. July 2009 - As previously announced, DuPont has expanded actions to address global market conditions and further enhance its long-term competitiveness, which include higher 2009 targets for cost and capital reductions. Below is a progress summary of the companys actions.
Restructuring and productivity programs yielded a second quarter benefit of $335 million. This brings year-to-date cost reduction to about $600 million versus the companys 2009 fixed cost reduction goal of $1 billion.
Year-to-date capital expenditures were about $700 million versus the companys full-year target of $1.4 billion.
First half seasonal working capital build was 40% less than 2008. This reflects a $1 billion inventory reduction versus June 2008, with about one-third attributed to productivity and projects directed at inventory management.
For the year, $1 billion of working capital reduction projects have been identified and the company expects to deliver the $1 billion improvement over 2008 as previously announced.