Word: pont
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Dates: during 1950-1959
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...stockholders, Du Pont's lean, able President Crawford H. Greenewalt last week totted up the score on a year of "transition from a sellers' to a buyers' market." His cheerful finding: "No serious dislocation or detriment to the company's business...
This seemed like deep understatement. In 1949, for the first time, Du Pont's sales had crossed the billion-dollar mark to $1,025 million, a gain of 6% over the previous year. What was more remarkable, Du Pont's profits had jumped 20%. With dividends from Du Pont-controlled General Motors, the company's total net soared to $213.6 million, a 35% gain...
...part in this, 47-year-old President Greenewalt, who came to Du Pont as a promising young chemist and later married Irénée du Pont's daughter, was well rewarded. To his $138,000 salary, the directors added a bonus of $224,760 and 1,254 shares of Du Pont common stock...
Test-Tube Triumphs. Chemist Greenewalt was well aware that Du Pont's continued growth depended on "aggressive research and . . . the development of new products." It was neglecting neither: on research, it had laid out $33 million in 1949, turned up an impressive array of promising new products. Among them...
Corncob Nylon. With its prize plastic, nylon, Du Pont had been experimenting at a Niagara Falls pilot plant. Object: to make one of nylon's basic ingredients (adipontrile) from a chemical (furfural) obtained from corncobs and oat hulls. This had proved so successful that capacity will be doubled this year, to produce enough adipontrile to use up 200,000 lbs. of corncobs yearly...