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Media management of major acquisition

The situation 
In a deal worth US$1.9 billion, US science company E. I. du Pont de Nemours & Co was acquiring Herberts, the paint division of the German Hoechst AG. In the coatings industry, this was a case of the herring swallowing the whale. It would make DuPont the world’s largest suppliers of automotive coatings and the third largest coatings company overall and would strengthen the company’s position in the European coatings market. The announcement to the press needed sensitive handling, particularly in the German market.

The solution 
Davies Associates worked jointly with the US and European corporate affairs teams to develop a press announcement that was appropriate to the European market. The agency handled all European trade press distribution and acted as first point of contact for trade media across Europe. We also tracked all journalist enquiries for DuPont.

As part of the acquisition support activities, press interviews were set up with key publications. This included a Financial Times press visit to the new European DuPont Performance Coatings headquarters in Germany, where DA arranged a series of interviews with senior management.

The results 
The trade media in the 11 European countries which DA supported covered the acquisition accurately, positively and extensively. The Financial Times later ran a special paint industry supplement with comprehensive information on the company. DuPont Performance Coatings, as the combined coatings business was called, was rapidly established as an entity.