10.14.2008 Williams Mullen Advises Coastal Training Technologies Corporation in Acquisition by DuPont
DuPont Acquires Coastal Training Technologies Corporation
DuPont Press Release:
WILMINGTON, DE., Oct. 14, 2008 --- DuPont today acquired Coastal Training Technologies Corporation, a leading global producer and marketer of cutting-edge training programs, headquartered in Virginia Beach, Va. This transaction is expected to fuel significant growth for DuPont Safety Resources, a safety consulting business within the DuPont Safety & Protection segment. Terms of the agreement were not disclosed.
The acquisition includes transfer of all customer agreements, patents, copyrights, brands, equipment and personnel. It will allow DuPont, an established global leader in industrial safety services programs, to provide a broader mix of delivery systems to a growing global audience. Coastal Training Technologies, with offices in the United States, Mexico, Europe, Brazil, India and the Philippines, will gain access to DuPont’s broad customer network for its extensive library of training products.
“Coastal is a dynamic and creative company that produces world-class training products,” said James R. Weigand, vice president and general manager, DuPont Safety Resources. “By combining their capabilities with our innovative science and safety experience, we will be able to address a wide range of client needs from consultative safety leadership to instructor-led training to e-learning based systems.”
The acquisition is part of the company’s strategy to expand its presence in emerging markets and safety industries. It complements DuPont’s current safety training and consulting business, creating a single-source training leader with the greatest variety of safety programs for companies, governments and organizations seeking training and consultation.
"One of the most exciting aspects of becoming part of DuPont is that we are joining a company that shares our long-held values regarding the importance of safety and improving people’s lives," said Paul Michels, founder and CEO of Coastal. "DuPont’s global commitment to protecting people and the environment, developing employees and running highly efficient operations is a perfect fit with Coastal’s mission."
According to a report issued by the American Society for Training and Development (ASTD), U.S. organizations alone spent approximately $50 billion on overall external training services in 2007. DuPont estimates the global market for safety training materials and programs at more than $600 million annually. E learning programs continue to be the fastest growing tools in the industry. Over a five-year period beginning in 2001, the use of technology-based programs nearly tripled -- growing from 11 percent to 30 percent.
DuPont Safety Resources offers customized consulting services and safety training materials and products that help clients improve workplace safety systems and operations. Hundreds of companies, government agencies and other organizations have substantially reduced their losses ― human suffering, financial, operational and corporate reputation ― and have significantly improved safety with the help of DuPont professional consulting services and safety training products. In addition to its consulting services, the business offers workplace safety and training materials, including the DuPont™ STOP™ program, which has helped thousands of employees at companies around the world prevent injuries and incidents for more than 25 years.
DuPont is committed to protecting people and provides solutions to meet safety needs. The DuPont Safety & Protection segment includes DuPont Advanced Fiber Systems, DuPont Nonwovens, DuPont Building Innovations, DuPont Chemical Solutions Enterprise and DuPont Safety Resources. In 2007, the division’s revenues totaled $5.6 billion.
Founded in 1984, Coastal Training Technologies Corporation has developed and markets an extensive offering of award-winning DVDs, e-learning products, print materials and instructor-led courses available in 29 languages. Among the company’s key brands are e-learning tools including ClarityNet® HD, Safe2Work, Hot Potato and Custom Course Creator (C3). About one-third of the company’s 600 employees reside in the United States.
DuPont is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.
Williams Mullen attorneys William A. Old, Jr. and John C. Bilzor served as lead legal counsel for Coastal Training Technologies Corporation.