View Mobile Site

INVISTA to sell apparel, advanced textiles business

Posted: October 30, 2017 5:16 p.m.
Updated: October 31, 2017 1:00 a.m.

INVISTA, a subsidiary of Koch Industries, has entered into a definitive agreement with Shandong Ruyi Investment Holding to sell INVISTA’s Apparel & Advanced Textiles business, one of INVISTA’s four major business units. 

This transaction does not affect operations or otherwise impact INVISTA’s Kershaw County plant -- which is the county’s largest taxpayer -- located in Lugoff, according to Kershaw County and INVISTA officials. 

Completion of the agreement is subject to customary closing conditions including regulatory clearances from competition authorities. Closing is expected by mid-2018. The purchase price is undisclosed.

The transaction includes:

INVISTA’s portfolio of apparel-focused fibers and brands including LYCRA® fiber, LYCRA HyFit® fiber, COOLMAX® fiber, THERMOLITE® fiber and insulation, ELASPAN® fiber, SUPPLEX® fiber and TACTEL® fiber products

TERATHANE® polytetramethylene ether glycol (PTMEG), 1,4 butanediol (BDO), and tetrahydrofuran (THF) production

Related manufacturing assets, research and development centers, and sales offices around the globe

All associated technical, operations, commercial and administrative staff (approximately 3,000 employees globally) 

“The Apparel business has always been a strategic and valued part of our portfolio,” INVISTA Chairman and CEO Jeff Gentrysaid. “We engaged the market because we want this business to be owned by the company that can create the greatest value for customers, employees and stockholders. In this case, we believe that Shandong Ruyi Investment Holding has the knowledge and capability that will enable this business to thrive the most and succeed over the long term.”  

INVISTA will retain ownership of its nylon, polyester, polyols and licensing businesses and related brands. This includes INVISTA’s world-leading nylon 6,6 intermediates business, its global nylon polymer and fiber portfolio, and widely recognized brands including STAINMASTER® and ANTRON® carpet fibers and CORDURA® fabric. INVISTA will also retain its intellectual property rights for 1.4 butanediol (BDO), tetrahydrofuran (THF) and polytetramethylene ether glycol (PTMEG) technologies and will continue to license these technologies on a global basis.

“We look forward to intensifying our focus on the nylon value chain,” Gentry said. “For nearly 80 years, we’ve delivered innovations to the nylon industry, including the most advanced adiponitrile technology in the marketplace. We have talented people with decades of know-how and you can count on INVISTA to continue building on this heritage of leadership and innovation.”


Commenting not available.
Commenting is not available.

Contents of this site are © Copyright 2018 Chronicle Independent All rights reserved. Privacy policy and Terms of service

Powered by
Morris Technology
Please wait ...