PFOA 2005:
April 13, 2005. DuPont proposal on disclosing PFOA costs is rejected
By Bob Fernandez. Philadelphia Inquirer.

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Philadelphia Inquirer

April 27, 2005

DuPont proposal on disclosing PFOA costs is rejected

By Bob Fernandez

DuPont Co. shareholders rejected a shareholder proposal today that would have forced the company to disclose its costs for lobbying, expert advice and public relations in dealing with a chemical used in the manufacture of Teflon that has been linked to cancer in animals and has alarmed environmentalists.

DuPont said it has studied the chemical, widely known as PFOA, and concluded that it was safe.

Shareholders voted against the proposal by 91.3 percent to 8.7 percent.

Responding to comments at the meeting in Wilmington, chief executive officer Charles O. Holliday Jr. said DuPont finds "no ill health effects from PFOA." He also said DuPont has dramatically reduced PFOA emissions.

In September, DuPont settled a class-action lawsuit filed by residents of Parkersburg, W.Va., over PFOA exposure for $107.6 million, including lawyers' fees.
Sanford Lewis, spokesman for DuPont Shareholders for Fair Value, the union-led group that submitted the proposal, called the vote a signal that shareholders are concerned about the issue. The proposal may be resubmitted next year, he said.

The group held a news conference before the meeting and released an analysis of the effect of PFOA on DuPont's finances. It says PFOA and related products contributed $1.23 billion in sales and $100 million in profit to DuPont in 2003. The source for this was a JPMorgan research report.

Spokesman R. Clifton Webb said the company does not disclose business units' sales and profits.

Shareholders also approved management's slate of directors and its independent accounting firm and rejected six other shareholder proposals.

Contact staff writer Bob Fernandez at 215-854-5897 or

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