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Kolon settles US Kevlar probe

  • Mercados: Petrochemicals
  • 30/04/15

Korean chemical producer Kolon Industries pleaded guilty today in a US federal court in Alexandria, Virginia, to one count of conspiracy to convert trade secrets involving Dupont's Kevlar technology.

Kolon must pay $85mn in criminal fines and $275mn in restitution to Dupont, according to the US Justice Department.

The US government alleged Kolon conspired with former Dupont employees to steal trade secrets for producing Kevlar, a para-aramid synthetic fiber used in body armor, cable, and other automotive and industrial products.

"Kolon admitted that it was attempting to improve the quality of its own para-aramid fiber known as Heracron," the Justice Department said.

Dupont announced today it reached a civil settlement with Kolon resolving all outstanding litigation between the companies. Dupont filed a civil lawsuit against Kolon regarding the matter in 2009. Kolon could not be reached for comment.

als/dcb



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