Sunday, May 3, 2015

Kolon Blows $360 Million Down the Crapper - DuPont Still Bullet-Proof

Kolon Industries Inc. admitted conspiring to steal DuPont Co.’s Kevlar trade secrets 
as a U.S. judge signed off on its plea agreement and $360 million penalty...

“There’s no doubt this case involves brazen and blatant conduct,” U.S. District Judge Anthony Trenga said before accepting the company’s guilty plea. Trenga said he was particularly troubled by Kolon employees destroying documents after DuPont sued in 2009.

The charges were initially filed against Gyeonggi, South Korea-based Kolon Industries Inc., which split into two public companies in 2010, Kolon Industries and Kolon Corp. The theft of secrets occurred before the split.

Kolon’s guilty plea also covered attempts to steal trade secrets from a second company, Tokyo-based Teijin Ltd. more