DuPont acquires Coastal Training Technologies Corp.
DuPont, Wilmington, Del., acquired Coastal Training Technologies Corp., a global producer and marketer of cutting-edge training programs, headquartered in Virginia Beach, Va., according to a DuPont release Oct. 14 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 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, according to the release.
“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, in the release. “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, in the release. "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, U.S. organizations alone spent approximately $50 billion on overall external training services in 2007, according to the release. 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.