DuPont acquires Beach-based training company

VIRGINIA BEACH

Coastal Training Technologies Corp., a Virginia Beach company that employs more than 650 people, was sold Tuesday to DuPont.

DuPont is a global company based in Delaware that specializes in science-based products and services.

The acquisition will provide mutual opportunities for growth by linking DuPont's safety-consulting business with Coastal's training products and technology, said James Weigand, vice president and general manager of DuPont's Safety Resources division. Details of the agreement, including price, are not being released.

"The more we started talking, the more we realized that this could bring us to a different level that we couldn't achieve on our own," Weigand said. These "two families come together into a larger, stronger and more productive family."

Coastal is now a subsidiary of DuPont and will maintain its brand name, management, personnel and Virginia Beach headquarters near Mount Trashmore, said Paul Michels, the company's founder and chief executive officer. Keeping Coastal's local identity is important to the company and its employees, he said.

"Everything here at Coastal stays exactly the same," Michels said. "It just means that we're going to move faster on a worldwide basis to get our products out there."

The opportunity for growth, not any financial problems, motivated the sale, he said. "For our employees and for our long-term objectives, this is the best combination."

Coastal's employees learned of the acquisition Monday, and the response has been generally positive, said John Forte, senior producer/director for Coastal.

"Of course there's the unknown, and everyone's afraid of the unknown," he said. "But it's a growth opportunity, and that is exciting."

Warren Harris, Virginia Beach's economic development director, visited Coastal's headquarters Tuesday. He said he wanted to make sure the sale wouldn't result in downsizing.

"What was initially raised eyebrows turned out to be excitement," Harris said. "I more wanted to make sure that for Coastal, and for Paul personally, that it was an acquisition that meant growth for the company."

Coastal is rooted in Virginia Beach, where Michels founded the company in 1984. It produces training programs, handbooks, videos and online tools in 29 languages for more than 870,000 customers worldwide, Michels said. Topics include fire safety, defensive driving and environmental issues.

The agreement transfers all of Coastal's customer agreements, patents, copyrights, brands, equipment and personnel to DuPont, according to a news release.

The marriage will help double business with DuPont's Safety and Protection segment, which includes Safety Resources, within two years, Weigand said. That segment brought in $5.6 billion in revenue last year.

The acquisition also could open the door for more DuPont business in Virginia Beach.

"I don't speculate," Weigand said. But "if our business grows and if the opportunity presents itself to expand down here, we would certainly look at that opportunity very favorably."

Kathy Adams, (757) 446-2583, kathy.adams@pilotonline.com