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This article originally appeared in the November 2003 Issue of INSIGHT
©2003 Collision Repair Industry INSIGHT All Rights Reserved
CIC Report from Boston: Task Force Says Types of Parts Used Have Broad Impact on Cycle Time
McNeill Resigns as CEO of Sterling
LKQ Corp IPO at Initial $13 per Share on NASDAQ
Akzo Nobel Q3 Earnings Down 23%
BASF Appoints Blair Coatings Head in North America
CARSTAR Adds Ten Franchises in Arizona
Hertz and Sherwin-Williams Appointed to CIECA Board
AAIA Publishes Next Generation Electronic Catalog Standard
FinishMaster Names Esce Senior Vice President of Sales
Insurance Auto Auctions Q3 Results Below Expectations
Allstate Q3 Net Income More than Doubled
Caliber Collision Centers Makes Inc. Top 500 List Again
CEI Group Named a Best Place to Work in PA
AMI Awards 2003 BodyShop Business Magazine Scholarship
New Names at Mitchell International
Survey Looks at What Industry Finds Ethical or Fraudulent
DuPont Global Research and Development Headquarters Marks 100th Anniversary
INDUSTRY UPDATE
For shops or insurers looking to speed up cycle time, the types of parts used may make more difference than any other factor.
That's the message the Cycle Time Task Force of the Collision Industry Conference (CIC) delivered at a recent meeting held in Boston.
"Parts are probably one of the biggest things that affect cycle time," Gene Hamilton, co-chairman of the task force, said.
Hamilton then shared some of the results of the task force's research comparing availability, delivery, accuracy, damage rates and quality of five different kinds of parts used in collision repair: new OEM, used or salvage, reconditioned or remanufactured, and certified or non-certified non-OEM parts.
New OEM parts, Hamilton said, are generally the fastest to locate, are readily available, have the best fit and finish, and have low damage rates.
Like new OEM parts, remanufactured or reconditioned parts - most commonly bumpers - are also often available within a day in metro areas, Hamilton said, although some suppliers want to pick up and repair the damaged part rather than providing one from inventory. That can create a 3- to 5-day turn-around time. These parts are not always resistant to subsequent damage, and can also impact cycle time if they require more prep time, such as when the primer is not compatible with the shop's paint system.
Delivery of used or salvage parts also is often compatible with new OEM parts, Hamilton said, and some suppliers also offer non-OEM parts as well, making them closer to a single-source supplier. But locating and ordering these parts can take longer, and differences of opinion regarding condition can add time to the process. More extensive prep time is required with the parts, including in some cases, stripping of excessive paint build-up.
Most non-OEM parts have higher damage rates because of inferior packaging, Hamilton said. While the fit and finish of certified parts is better than non-certified parts, inconsistency in the parts still forces shops to do test fits prior to refinishing that generally aren't necessary with other types of parts. And too often, Hamilton said, shops are not receiving the certified parts they order.
"If you're on a DRP that is watching your cycle time, and you're getting non-certified parts delivered when you've ordered [certified], you have to make a decision about whether to return it or put it on the car because you can't hurt your cycle time," Hamilton said. "This is one of the biggest issues that we're all facing: What do you do when somebody hands us a part that we've got to have in order to deliver a car, and it's not what we're required to use?"
Other CIC news and discussions
In other news and discussion at CIC in Boston:
- Ford Motor Company announced it would meet a CIC request to the automakers to make "fastener kits" available. Ford's Steve Nantau said the first kits, available by year's end, would include all the nuts, bolts, rivets or clips needed for front and rear bumpers and fascias on 18 high-volume vehicles, such as the Mustang, Taurus and Windstar models. Similar kits will be available for all 2005 and newer vehicles, and more past model year kits will also be developed.
- Past CIC Chairman Lou DiLisio said there is concern that some insurers are once again requiring shops participating in their direct repair programs (DRPs) to use a specific estimating system. He said letters to this effect from one or more insurers to shops may prompt the need to renew a CIC task force first created several years ago; in 2001, the task force was successful in derailing efforts that would have limited a shop's ability to use the estimating or other electronic systems of its choice.
- At the December 3 CIC in Orlando, Fla., the Estimating Committee will hold a panel discussion on a hot topic within the industry: shop or body materials reimbursement.
"On welded panels, anywhere from half to as much as two-thirds of the cost of all materials needed are for those used in the metal department," committee co-chairman March Taylor said.
Taylor said the panel discussion will provide an opportunity to discuss methodologies for calculating needed materials charges.
Jon McNeill, CEO and one of the founders of Sterling Autobody, and Shaun Starbuck, the Allstate-owned collision repair consolidator's Chief Financial Officer have resigned.
Allstate has named George Ruebenson the new CEO of Sterling. Ruebenson is currently Senior Vice-President of Claims for Allstate's Property Casualty business.
Recycled auto parts supplier LKQ Corp. priced an initial public offering of 7 million shares at $13 a share on October 3. Listed on NASDAQ, symbol LKQX, the stock closed up a bit over $2 higher its first day.
Selling stockholders are offering 2 million of the 7 million shares and have offered underwriters Robert Baird & Co. and Jefferies and Co. an option to purchase an additional 1.05 million shares, LKQ said in a statement.
The company operates 38 sales and processing facilities and 12 redistribution centers with a specialty in selling parts to automobile collision and mechanical repair shops and, indirectly, insurance companies and extended warranty companies.
"We offer our customers a wide selection and availability of high quality and low cost alternatives to new ... and aftermarket parts," the company said in its IPO filing. "We believe we are well positioned to take advantage of the trends supporting industry growth, including high frequency of collisions, high cost of vehicle repair and the desire of insurance companies to reduce their claims expenses."
PPG Industries has reported that third quarter earnings fell slightly due in part to higher energy, environmental, pension and retiree medical costs.The company's third quarter net income was $142 million, or 83 cents a share, including an aftertax charge of $5 million, or 3 cents a share, to reflect the net increase in the current value of the company's obligation under the asbestos settlement agreement reported in May of 2002. This is down 4.1 percent from third quarter 2002. Sales were $2.21 billion.
For the first nine months of 2003, PPG recorded net income of $372 million, or $2.18 per share. Sales for the first nine months of 2003 were $6.58 billion.
For the first nine months of 2002, PPG recorded a net loss of $163 million. Sales for the first nine months of 2002 were $6.08 billion.
"We generated cash from operating activities of about $350 million during the third quarter, representing an increase of about $120 million over last year, as a result of stronger earnings and further reductions in working capital, despite a continued sluggish manufacturing environment," said Raymond W. LeBoeuf, chairman and chief executive officer. "So far this year we paid down more than $300 million in debt, reducing our debt-to-total capital ratio to 41 percent, just one point shy of our year-end goal. In addition, through Sept. 30 we have increased our cash position by about $160 million, and expect further improvement in the fourth quarter."
Consistent with previous quarters this year, third quarter 2003 earnings included approximately $37 million of higher pension and retiree medical costs compared with a year ago.
Looking to the future, LeBoeuf added, "We see continuing signs of a slow but likely uneven escalation in the economy, which, in combination with our improved business mix and our unwavering commitment to generating cash and reducing costs, will only amplify any gains that the economic expansion brings."
Coatings sales increased $85 million, or 7 percent, due to the strengthening of foreign currencies and improved volumes across all businesses, offset, in part, by lower prices in the automotive original equipment business.
Glass sales increased $13 million, or 2 percent, largely on the strengthening of foreign currencies. Stronger volumes in the automotive original equipment and automotive replacement glass businesses were offset by lower prices in the automotive replacement glass and fiber glass businesses and lower fiber glass volumes.
Akzo Nobel has reported third quarter net earnings of EUR 178 million, 23 percent below the third quarter of 2002.
CFO Fritz Froehlich said, "Our focus on cost and cash has proven to be successful. Earnings are in line with expectations. Forceful restructurings are increasingly contributing to the bottom line. All groups were impacted by negative currency translation effects and pensions. Net income may be down, but in these challenging business conditions the results are quite acceptable."
Froehlich continued, "Coatings and Chemicals continued their solid performance. The headcount reduction program for the company is clearly ahead of schedule with 3,400 this year. I am very pleased with our EUR 0.5 billion net debt reduction. For the remainder of the year we assume no real improvement in the business conditions. Our outlook is unchanged, with net income significantly below last year."
BASF has appointed Rainer Michael Blair as Group Vice President, Coatings, for the company in North America.
Most recently head of the Automotive OEM Coatings unit for BASF Coatings in Muenster, Germany, Blair will relocate to BASF’s coatings research and administrative complex in Southfield, Mich. He will be responsible for BASF’s Coatings business in North America and have global responsibility for the business’s Automotive OEM Coatings unit.
Blair succeeds Martin Laudenbach, who was appointed President of BASF’s Fine Chemicals Global Business Unit, effective December 1, 2003. Laudenbach will relocate to BASF’s global headquarters in Ludwigshafen, Germany.
Blair joined BASF Aktiengesellschaft, Ludwigshafen, in 1990 as Product and Marketing Manager, Industrial Chemicals division. In 1995, he joined BASF Corporation in the United States as Marketing Manager, Acrylic Monomers. From January 1998 to June 2001, Blair was in charge of BASF Argentina S.A., and was also responsible for the plastics and chemicals business units of BASF Group in South America.
Succeeding Blair is Dr. Gerold Mahr, currently Director, BASF Coatings de México S.A. de C.V., based at the company’s coatings manufacturing site in Tultitlán, Mexico.
Peter Alexander Fischer will succeed Mahr, effective November 1, 2003. Fischer joined BASF Coatings in 1988 and held management positions in manufacturing at the company’s sites in Cologne and Wuerzburg, Germany. From 1994 to 2000, he worked at BASF Shanghai Coatings in China as Managing Director, and then relocated to Tultitlán as Director, Operations and Site Manager.
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CARSTAR, the nation’s largest collision repair network, has announced the addition of 10 franchise locations in Arizona. This addition raises the total number of CARSTAR stores to more than 300 locations across North America. The signings are a result of a six-month long aggressive recruitment effort to premium stores in key Arizona cities. Eight of the new stores are in the Phoenix area, and two are in Tucson.
“Many independent collision repair owners have recognized the need to align their business with an organization like CARSTAR with true deliverables that provide value to both insurance companies and consumers,” said George Hansen, President and CEO, CARSTAR.
CARSTAR attributes its growth to understanding the needs of the Arizona marketplace and repackaging its franchise offering, which includes profit management, insurance relationships, marketing and training.
CARSTAR, headquartered in Overland Park, Kansas, anticipates adding a total of 70 new franchises by year-end. CARSTAR currently has 218 U.S. locations in 22 states.
Rick Palmer, CEO, ComputerLogic, Inc., and Chairman of the CIECA Board of Trustees, has announced that Hertz and Sherwin-Williams Automotive Finishes Corp. were appointed to the Board of Trustees at the October 1st Board Meeting in Boston.
Martin Aita, representing Hertz on the Board, said, “Hertz is very excited to join CIECA’s Board and looks forward to taking an active role in the association. The Board position will provide Hertz with the opportunity to support CIECA in their mission of developing standards for the effective use of electronic commerce in the collision industry.”
Robert (Bob) Quigley, representing Sherwin-Williams on the Board, said that he is “looking forward to contributing to the Board and to a great partnership with CIECA.”
The appointment of Hertz and Sherwin-Williams to the Board of Trustees underscores CIECA’s continuing commitment to attract the best resources in the industry to help CIECA fulfill its mission, which is, “to facilitate the implementation of Electronic Commerce and provide a forum and methods to develop and maintain objective, unbiased, and uniform Electronic Commerce standards and guidelines that encourage open competition and free choice, and are in the best interest of all entities conducting business with and within the Collision Industry.”
The AAIA Electronic Catalog Standard has been enhanced to better meet the needs of all aftermarket manufacturers and their business partners, including virtually all of the major electronic catalog suppliers.
The Automotive Aftermarket Industry Association (AAIA) recently published a completely new suite of tools that aftermarket companies can use to code and exchange application catalog and other vehicle-driven data. This new standard has been widely accepted and is ready for adoption.
The original AAIA Electronic Catalog Standard has been broadly embraced in the aftermarket and serves as the backbone for many of the leading electronic catalog and e-commerce applications. However, barriers remained between the AAIA standard and a small number of the leading e-catalog providers.
The AAIA Electronic Commerce Committee worked closely with representatives of all interested parties to arrive at a solution that removes those barriers and meets the high industry standard for quality catalog data in the aftermarket.
Technologue, Inc. provides the primary research and hosting of the database.
"Without industry partners like Nick Porrini [Technologue president] and the team at Technologue, a project of this magnitude would be impossible. The industry owes Technologue a debt of gratitude for their invaluable contribution to the AAIA standard," said Scott Luckett, AAIA vice president information technology.
"We have published a standard that everyone in the industry can adopt without hesitation," Luckett said. "Of course, the AAIA standard will continue to evolve to support other classes of vehicles and more international vehicle information. The value of the AAIA standard will be measured with timeliness to the countertop, accuracy and significant cost savings versus supporting multiple private formats."
Recognizing that there may be questions about the nature of the new standard and what it means to companies that support the standard, AAIA has announced the Electronic Catalog Standard Users' Congress at AAPEX, in Las Vegas, during the first week of November. Besides presentations from the association, representatives from the leading e-catalogue companies will speak about their plans and commitments relative to the new AAIA standard.
FinishMaster, Inc. has announced the appointment of Richard J. Esce to the newly created position of Senior Vice President, Sales.
Before joining FinishMaster, Esce spent 13 years at W.W. Grainger, rising to the position of Regional Vice President of Sales, where he was responsible for over $400 million in sales covering the Northeast United States. Additionally, Esce worked at General Electric for 18 years in various product management and marketing roles.
"FinishMaster's success is dependent on growing same branch sales. I'm confident Dick's addition to our sales team will lead to achieving this objective on a sustained basis," stated J. A. Lacy, President and Chief Operating Officer.
FinishMaster is a national independent distributor of automotive paints, coatings, and related accessories to the automotive collision repair industry. The company is headquartered in Indianapolis, Indiana, and operates three major distribution centers and 168 branches in 27 of the 35 largest metropolitan areas in the country.
Insurance Auto Auctions, Inc., a provider of automotive salvage and claims processing services in the United States, has reported, as anticipated, a net loss for the third quarter of $0.6 million, versus net earnings of $0.6 million for the same quarter a year ago.
Revenues for the quarter were $49.1 million compared with $52.8 million in the third quarter of 2002.
Tom O'Brien, CEO, commented, "Although we are disappointed that our financial results came in lower than we had originally anticipated, we remain confident in the long-term future of the company. Through the first nine months of the year we have remained focused on implementing the new enterprise-wide IT system and continue to roll it out in new branches. We believe recent customer wins have proven our ability to compete in the marketplace. Our inventory of consigned vehicles increased from the prior quarter as well, representing positive trends for the overall business.”
Insurance Auto Auctions, Inc. currently operates 74 sites across the United States.
Allstate Corp.'s third quarter net income more than doubled as revenue rose 12 percent, boosted by higher premiums and fewer-than-expected claims.
Property-Liability Premiums written grew five percent over the third quarter of 2002. Allstate brand standard auto business premiums written increased 33 percent. Property-Liability Under-writing income increased $144 million, to $255 million from $111 million in the same quarter a year ago.
"This has been an outstanding quarter for Allstate," said Chairman, President, and CEO Edward M. Liddy. "Our goal has been to drive consistent top line and bottom line growth, and we have clearly demonstrated our ability to do just that. This quarter marks the second in a row that we have shown stronger unit growth in our core businesses and each passing quarter yields additional evidence that we are strongly positioned for long-term sustainable profitability and growth. In particular, our core Allstate brand standard auto and homeowners insurance lines policies in force showed overall positive unit growth compared to the second quarter, and new business growth in these two lines were especially strong."
Liddy concluded, "The increase for standard auto is due, in part, to our new standard auto rating plan in the state of California, which is allowing us to be more competitive and to offer insurance to more consumers in the state. We remain disciplined about running our business as efficiently as possible and continue to pay close attention to expenses. ...We have been successful in seeking and gaining approvals for rate increases that support our projected loss cost trends and return targets and we remain committed to growing without sacrificing profitability."
Caliber Collision Centers has ranked 320th in Inc. Magazine's list of the Top 500 Fastest-Growing Private Companies in America, making this the third year in a row that Caliber has made the list.
Since its first acquisitions in January 1997, Caliber Collision Centers has become the largest collision repair provider in California and Texas, and the largest independently operated collision repair organization in the United States.
According to Caliber's Chairman and CEO, Matthew Ohrnstein, Caliber's dedication to delivering exceptional customer service, high-quality vehicle repair, utilizing company-wide standard operating procedures and a having a disciplined approach to acquiring new locations has led to such remarkable growth. "We're thrilled to have made the influential Inc. 500 list for the third year in a row," stated Ohrnstein. "We believe that by continuing to focus on 100 percent customer satisfaction, commitment to employee training and development, continued investments in advanced facilities, equipment, and technology, Caliber will continue to grow and thrive in the years to come."
To be eligible for this year's Inc. 500, companies had to be independent and privately held through their fiscal year 2002, have had at least $200,000 in sales in the base year of 1998, and their 2002 sales had to exceed 2001 sales.
Founded in 1991, with headquarters in Irvine, California, Caliber Collision Centers currently owns and operates 68 facilities in California and Texas and has annual revenues exceeding $200 million.
The CEI Group Inc. (CEI) was recently named as one of the Best Places to Work in Pennsylvania.
The award program, created in 2000, is the first of its kind offered by a state. The program is a public/private partnership of the Pennsylvania Depart-ment of Community and Economic Development, Team Pennsylvania Foundation, Kuntz Lesher LLP, Central Penn Business Journal, the Great Place to Work Institute, and the Pennsylvania Chamber of Business and Industry.
This survey and award program was designed to identify, recognize and honor the best places of employment in the state, benefiting the state's economy, its workforce and businesses.
The Best Places to Work in PA program is made up of 100 companies split into two groups: 50 medium sized companies (50-250 employees) and 50 large sized companies (more than 250 employees). CEI has been named one of the Best Places to Work in PA in the medium category.
CEI will be recognized and honored at the Best Places to Work in PA evening awards ceremony in December.
CEI, celebrating its 20th anniversary, is an independent provider of vehicle accident and risk management services. Through ClaimsNet Inc., CEI also provides auto direct repair program outsourcing to leading property and casualty insurance companies.
CEI has headquarters near Philadelphia, PA, with field sales offices in Chicago, IL; Tulsa, OK; Corona Del Mar, CA; Tampa, FL and Hermosa Beach, CA. It currently provides vehicle accident and claims management services for an estimated 500,000 drivers.
The Automotive Management Institute (AMI) and Babcox Publications have announced jointly that William Bray is the recipient of this year’s “BodyShop Business Magazine Scholarship.”
AMI and Babcox present the scholarship annually to recognize management-oriented members of the Automotive Service Association Collision Division. The recipient receives $1,000 to be applied toward expenses to attend the International Autobody Congress & Exposition (NACE) in Orlando, Dec. 4 – 7.
Bray, the estimator for Roth & Miller Autobody in Portland, Wash., has worked in the automotive service industry for nine years. He is an ASE-certified estimator and is currently pursuing the Institute’s Accredited Automotive Manager (AAM) designation.
“I am very excited and honored to have been chosen as the recipient of this year’s BodyShop Business Magazine Scholarship. Attending NACE will provide me with the opportunity to attend management courses that will help me become a better manager and leader. It will also give me the opportunity to see the latest tools, equipment and trends that can benefit our business,” said Bray.
AMI was established to answer the demand for continuing education tailored specifically for the business needs of the automotive service industry. The Institute offers the Accredited Automotive Manager (AAM) designation, the first business management accreditation exclusively for the automotive service professional. To date, AMI programs have attracted more than 88,000 enrollments throughout North America.
Mike Manika Joins Mitchell as VP of Strategic Corporate Accounts
Mitchell International has announced that Mike Manika has joined Mitchell as Vice President of Strategic Corporate Accounts.
Manika was previously the Vice President of Sales for ClaimIQ. Prior to that, Manika was a Group Vice President at CCC Information Services.
"We’re very pleased to have Mike on board," said Tony Aquila, President and COO of Mitchell. "He’s had an outstanding career and he brings experience and industry presence that are sure to make a positive contribution to the Mitchell organization."
Manika commented, "I’m extremely excited to be joining Mitchell. The successful implementations of its full claims workflow solution with major insurance carrier clients proved to me that Mitchell is a company that can make things happen."
Mitchell's eGlassMate Now eGlassClaim
Mitchell International has renamed its web-based glass claims management solution from eGlassMate(TM) to eGlassClaim(TM), emphasizing its position as a component of Mitchell's claims-centric approach to Industry workflow solutions.
eGlassClaim completely automates the glass claims process from the first notice of loss through payment of the claim. eGlassClaim integrates seamlessly into an insurance carrier's existing internal claims systems and processes, and provides a full suite of detailed management reports.
Catherine Howard, VP and General Manager of Mitchell's Glass Division, said, "eGlassClaim is so far above-and-beyond what we used to do to facilitate glass-replacement that a new name was not only appropriate, but necessary. Glass is an integral element of the overall claim process and needs to be managed efficiently within that larger context."
eGlassClaim is used by more than 19,000 glass service provider locations across the nation.
Mitchell International, Inc., is headquartered in San Diego, California.
Mitchell Introduces Salvage Management Software
Mitchell International has announced the commercial release of Salvage Management 2.0, a new addition to Mitchell's family of claims-focused, workflow solutions.
This web-based software tool enables insurers to manage their salvage disposal information - from transmitting assignments and updates to salvage vendors to tracking critical salvage events, including towing, title transfers, and sale information. Salvage Management 2.0 includes VIN-decode functionality, more than 100 salvage information fields, and enhanced reporting.
The new Salvage Management is integrated with Mitchell's claims solutions and is a key component of Mitchell’s building-block approach to providing enterprise level claims workflow management and control to the Auto Physical Damage Industry.
The Collision Industry Conference (CIC) Fraud Awareness Committee is the first to admit its recent survey was not scientific. After all, it was completed by only about 100 people who happened to be attending a CIC meeting earlier this year.
But the results may be interesting for those wondering about some of those "gray areas" shops and insurers find themselves in at times, said David McCreight, a member of the committee who shared the survey results last month in Boston.
One scenario posed on the survey was the shop that installs a non-certified non-OEM part because a certified part - which is what the insurer requires - was not readily available and the shop didn't want to harm its cycle time. About 92 percent of those surveyed found this "unacceptable."
But if the shop disclosed to both the insurer and vehicle owner that a non-certified part was used because a certified part wasn't available locally, 83 percent of those surveyed found it acceptable.
About 93 percent felt it was unacceptable for a shop to order a non-OEM part but return it (and supplement for an OEM part) claiming poor fit without first trying it. But when the situation was changed to the shop returning the part without trying it, installing the OEM part but absorbing the price difference, only 37 percent felt this was unacceptable.
A large majority said it was consumer deception and an unfair claims practice for an independent appraiser to leave needed items off an estimate at the request of the insurer because the customer may choose not to repair the vehicle. But what if the vehicle was repaired and the omitted items were added? More than half - 57 percent - still felt this practice was problematic.
About one-third of those completing the survey were collision repairers, and another 17 percent were insurers. The other half were from other segments of the industry represented at CIC, including the automakers and industry vendors.
Home to some of the world's most important scientific discoveries, the DuPont Experimental Station research and development facility has marked its 100th anniversary on October 13.
DuPont Chairman and CEO Charles O. Holliday, Jr., joined Delaware Governor Ruth Ann Minner, DuPont Chief Science and Technology Officer Thomas M. Connelly and more than 1,000 Experimental Station employees in marking the scientific contributions of the "Ex-Station" since its opening in the fall of 1903.
As one of the first research facilities of its kind in the world, the 150-acre campus-style Experimental Station serves as the primary research and development facility for DuPont. The company has more than 75 research and development facilities globally, including 35 outside the United States. The Experimental Station is home to the discovery and development of virtually every major DuPont product since 1903 -- including neoprene, nylon, Kevlar and Nomex advanced fibers, Lycra spandex, Tyvek nonwovens, Corian solid surfaces, and Suva refrigerants.
Today nearly 2,000 scientists and researchers -- including 600 with Ph.D.s -- pursue science-based solutions for global markets including agriculture and nutrition, electronics, safety and protection, coatings, and performance materials.
Research and development now under way includes fuel cells energy sources, emerging flat-panel displays technologies, and bio-based materials produced from renewable resources like corn. Other current developments at the Experimental Station could lead to foods that help prevent cancer and brittle bones; "smart" materials that can adjust performance on their own; microorganisms as alternatives to petrochemicals in producing carpets, clothes and auto materials, and; innovative materials that strengthen personal protection.
"When the Experimental Station opened in 1903, the focus was to diversify from our origins in gunpowder manufacturing to become a chemicals and materials company," Holliday said. "One hundred years later -- in the midst of our third transformation -- we are a global science company that puts science to work -- solving problems in ways that make people's lives better, easier and safer. While much has changed since 1903, two essential characteristics have remained constant: What we value -- our high ethical standards, respect for people, and commitment to safety, health and the environment -- and how we create value for society -- by applying science and knowledge to improve life on your planet. These characteristics are the foundation of our past and present success, and they will continue to guide us in the future."
"Thanks in large part to the presence of DuPont, Delaware is home to some of the leading research in the world and the Experimental Station is at the heart of those efforts," Gov. Minner said. "Delawareans are very proud of the fact that products known the world over were born right here next to the Brandywine River."
Minner, Holliday, Connelly and more than 1,000 Experimental Station employees marked the 100th anniversary by dedicating a bronzed building plaque and a time capsule -- filled with key artifacts, commemoratives and employees' contributions representing the milestone.
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