Tuesday, October 1, 2013
E.I. DuPont and his brother Victor return to France from the US to secure funding for their proposed company, a gunpowder factory. They manage to raise $24,000 and the E.I. DuPont de Nemours Company is born in France as a limited liability, joint-stock company. They returned to America on the Benjamin Franklin where E.I. assumed the title of Director of Manufacturing for his new venture. To prove that they are not radical French revolutionaries, the choose Alexander Hamilton as their company legal counsel.
The DuPont company eventually becomes the leading gunpowder manufacturer in the US and later, one of the major providers of automotive refinish paint in the US. Interestingly, for a company founded at the dawn of the 1800’s, 169 years later, DuPont would produce eight of the nine layers of material used in the suit worn by astronaut Neil Armstrong as he first touched foot on the lunar surface. In 2013, the parent company spun-off the auto refinishing paint parts of their business which is now known as Axalta refinish Products.